China to relax foreign ownership limits on cars, other industries

India offers Beijing soyabean exports amid trade spat with America

India offers Beijing soyabean exports amid trade spat with America

It was unclear whether that might mollify Mr Trump, who has threatened tariff hikes on 150 billion USA dollars of Chinese goods in response to complaints Beijing pressures foreign companies to hand over technology.

China announced Tuesday that it was slapping provisional anti-dumping duties on sorghum imported from the United States amid heightened trade tensions between the world's two top economies.

China relies nearly entirely on the United States for its sorghum, importing about $1 billion worth of the grain a year.

The threatened tariffs on a 150 billion worth of Chinese goods, and 50 billion of United States goods, would dent economic growth on both sides of the Pacific, analysts say.

China is the largest buyer of US sorghum - grown mostly in the rural American South, a region that voted heavily for Trump in the 2016 election.

In a statement, China's Ministry of Commerce said the alleged USA dumping had caused "substantial damage" to China's domestic sorghum industry, according to an informal translation, and that the ministry had chose to implement "temporary anti-dumping measures" and collect a 178.6 percent deposit on US sorghum imports beginning on Wednesday.

It said preliminary results of a trade probe found USA sorghum, a grain used as animal feed and in alcohol distilling, was sold at improperly low prices that hurt Chinese farmers.

The ministry took the decision after detecting a rise of exports of such a product by 317 thousand tons in 2013 to 4.76 million in 2017, while prices went down 31 percent in the Chinese market.

Iranian drone Israel shot down was armed: IDF
A number of strikes on targets in Syria have been attributed to Israel. "We need to. weaken them militarily in a significant way". The first air strike ordered by Trump occurred in April past year .

The highly symbolic moves in autos come after President Xi Jinping said last week China would scrap ownership limits "as soon as possible".

"It has instant impact for firms like Tesla", said Li Yanwei, an analyst with the China Automobile Dealers Association Expert Committee.

The NDRC also said the shipbuilding industry will do away this year with foreign ownership restrictions for firms designing, making and repairing vessels.

That will be followed by a similar repeal for makers of commercial vehicles in 2020 and passenger vehicles in 2022.

Until now, global carmakers such as General Motors and Volkswagen have been allowed to own no more than 50% of a joint venture with a Chinese partner and were limited to two ventures.

One vehicle company likely to gain is electric auto giant Tesla led by entrepreneur Elon Musk, who this year had asked US President Donald Trump for help on the market access issue, alluding to the troubles his firm has faced producing in China.

"China is the world's biggest electric vehicle market so it has a great deal of attraction to any auto company". "More or less, Chinese brands already compete with them on a similar level in electric cars".

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