Economy

China seeks trade firewall with US allies in rush of ambassador meetings

China seeks trade firewall with US allies in rush of ambassador meetings

Due to the same reason, China Zhongwang Holdings Limited, an aluminum product manufacturer listed in Hong Kong, also failed to merge USA aluminum firm Aleris Corporation, although afterward the US government announced a 10-percent tariff on imported aluminum products, claiming to force foreign companies to build plants in the United States and bring jobs back.

China is Tesla's second-largest market after the United States, but the trade spat between China and the US was threatening to make Tesla's vehicles in China even more expensive than they are now.

China-which has been limiting foreign carmakers to owning no more than 50 percent of any local joint venture-will lift the foreign ownership cap for electric vehicle (EV) and plug-in hybrid auto manufacturers as early as this year, according to the Chinese state planner.

The policy was implemented to help domestic carmakers to compete against more advanced worldwide rivals.

Li Qiang, chief analyst at Shanghai JC Intelligence, an agriculture consultancy, said this year's crop had already been sold, but the news would "certainly" have an impact on US growers going forward.

"We believe a more free and flexible business environment will benefit both Chinese and foreign companies in China and the Chinese economy", BMW said.

Other companies likely to be affected are Archer Daniels Midland ADM.N - a top seller of USA sorghum into China - along with Cargill [CARG.UL] and Louis Dreyfus [LOUDR.UL].

The looser rules are likely to raise pressure on domestic carmakers, potentially hitting the likes of Warren Buffett-backed BYD Co.

Читайте также: Commonwealth Games under fire for not showing athletes entering closing ceremony

This was only the latest and one of the many cases of Chinese companies being sanctioned by the United States over the past years. "More or less, Chinese brands already compete with them on a similar level in electric cars". Without an ownership cap, disagreements over ownership structure could be a thing of the past.

Foreign vehicle brands, meanwhile, now have years of experience from operating in China and believe they can go solo without a local partner guiding them, the analyst said.

In the meantime, limits on foreign ownership of electric vehicle producers will be eliminated this year, the Cabinet's planning agency said.

Airbus and Boeing did not immediately respond to Reuters' requests for comment.

The highly symbolic moves in autos come after President Xi Jinping said last week that the country would scrap ownership limits "as soon as possible", exciting global auto brands even as China and the United States spar over trade tariffs.

The highly symbolic moves in autos come after President Xi Jinping said last week the country would scrap ownership limits "as soon as possible", exciting global auto brands even as China and the USA clash over other trade tariffs. Its ties with the world's largest economy, though, are becoming increasingly fraught.

The United States has banned American companies from selling parts to telecoms equipment maker ZTE Corp for seven years, creating a new fissure in Sino-U.S. ties.

This story has not been edited by Firstpost staff and is generated by auto-feed.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2019 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог


  • Stocks start higher; Netflix +6% after strong quarter

    Stocks start higher; Netflix +6% after strong quarter

    Investors have shifted their focus from geopolitical and trade concerns, which have roiled the markets in the recent months. UnitedHealth shares rose 4 percent after it reported better-than-expected earnings and raised its outlook for 2018.
    Ceballos told he can leave Real Madrid for Liverpool

    Ceballos told he can leave Real Madrid for Liverpool

    Manchester United goalkeeper David De Gea is reportedly heading to Real Madrid this summer. That is what most interests us now".

    Increase Profit with Technical Analysis for: Magellan Midstream Partners, LP (NYSE:MMP)

    The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.28 by ($0.07). Profund Advsrs Limited Liability holds 0.37% in The Home Depot, Inc. 248,536 are owned by State Of Wisconsin Investment Board.
  • Prince Harry Appointed Commonwealth Youth Ambassador By Queen

    Prince Harry Appointed Commonwealth Youth Ambassador By Queen

    You want your nations to be cleaner, your planet to be greener, your friends and neighbours to be treated fairly and with respect, no matter their ethnicity, their religion or their status'.
    Diamonds in desert rocks came from long-lost planet

    Diamonds in desert rocks came from long-lost planet

    The planet existed just a few million years after the birth of the Sun and was destroyed in an epic cosmic collision. They argue that the pressures necessary to produce diamonds of this kind could only occur in planet of this size.
    Messi may be rested against Celta, says Valverde

    Messi may be rested against Celta, says Valverde

    The hosts must do without suspended duo Hugo Mallo and Pablo Hernandez , which means that Unzue will have to reshuffle his pack. Lionel Messi , Andres Iniesta and Gerard Pique could get the night off, while Ivan Rakitic misses out with an injured finger.
  • BC warns Alberta of legal action, business leaders warn of lost investment

    BC warns Alberta of legal action, business leaders warn of lost investment

    It all comes as investor confidence continues to wane given all the uncertainty around the Trans Mountain Pipeline expansion. The existing Trans Mountain system is a major conduit for both crude oil and refined products heading to B.C.
    WWE Reveals What The Winner Of The Greatest Royal Rumble Will Receive

    WWE Reveals What The Winner Of The Greatest Royal Rumble Will Receive

    WWE's Spanish language Twitter account tweeted out a picture hyping the event with everyone in the match surrounding a trophy. Roman Reigns™ in a Steel Cage Universal Championship match, Intercontinental Championship Ladder match: Seth Rollins™ vs.
    US Supreme Court dismisses Microsoft email privacy lawsuit

    US Supreme Court dismisses Microsoft email privacy lawsuit

    The CLOUD Act clarifies the authority of the federal government when requesting user data that USA tech companies store overseas . Both parties had come forward in support of dropping the case due to the recently passed CLOUD Act, which now governs the matter.
  • Delhi Daredevils Clock 1st Win of IPL Season

    Delhi Daredevils Clock 1st Win of IPL Season

    They needed 11 to win from the last over which was bowled by Mustafizur and it started horribly wrong for the left arm pacer. So, today's match turns out to a crucial one for both of them as they get a chance to register one victory for themselves.
    New York Attorney General Probes Cryptocurrency Trading Platforms

    New York Attorney General Probes Cryptocurrency Trading Platforms

    He said that the questionnaire was part of a broader policy meant to protect investors and other customers of the exchanges. Cryptocurrency trading has mushroomed recently in the wake of bitcoin's soaring price movements.
    Don't Tell Me' Judge, Dies At 84

    Don't Tell Me' Judge, Dies At 84

    Carl Kasell's voice woke me up most mornings throughout my childhood, adolescence, and well into adulthood. It was three years ago, and I was at the NPR headquarters in D.C., interviewing for a job.