China’s international trade representative held a series of meetings with the ambassadors from major European nations last week to ask them to stand together with Beijing against U.S. protectionism, according to sources.
China accused the United States of "repeatedly abusing" international trade rules, as Beijing braced on Thursday for an imminent announcement from U.S. President Donald Trump slapping more tariffs on Chinese imports.
European Union finance ministers called for a new corporate taxation system based on the "virtual" presence of a firm in a country, and adopted a blacklist of 17 jurisdictions deemed as tax havens on Tuesday.
China is pressing foreign payment card companies to form local joint ventures for onshore operations, said three people familiar with the matter, a move that would counter Beijing's pledge to the US on market access.
Fashion will be among the major industries to suffer if the UK fails to negotiate a favourable deal in time for it leaving the EU, a new report claims. The EU took 74% of UK fashion and textile exports last year.
S. Korea's Lotte Group said Monday four of its stores in China were closed after inspections by authorities. It blamed a political dispute. There are also fears that S. Korean stores will see from lower Chinese tourism.