Home » Money

Stocks jump as China's president eases trade fight fears

11 April, 2018, 17:30 | Author: Shawna Walton
  • The Saudi Aramco IPO is expected to be the biggest flotation in the world

The list was authorized by the U.S. Trade Representative's office, which in August 2017 initiated an unfounded investigation under the Section 301 of the U.S. Trade Act of 1974 to probe China's intellectual property and technology transfer practices.

Xi said China will widen market access for foreign investors, a point of contention for US President Donald Trump's administration.

While the leader did not mention President Trump by name, he said he'd move to further open China's markets and ease restrictions on foreign ownership in its auto industry.

Targeting "Made in China 2025" directly addresses complaints by American companies doing business in China, more than the earlier tariffs he'd slapped on washing machines, solar panels, steel and aluminum.

But it's unclear how much, if at all, Xi's pledges Tuesday will help defuse the trade tensions between the two sides. Beijing, the next day, said it would also place 25 per cent tariffs on $50 billion worth of United States imports, including in the aerospace sector where China has emerged as a key market for companies like Boeing. China hit back with its own threatened tariffs on United States imports including soybeans, planes, cars, whisky and chemicals. USA companies have long argued that China uses a range of tactics to force them to transfer intellectual property such as industrial designs and patents, and that Chinese entities engage in widespread theft of US trade secrets. Technology and industrial companies also rose.

More broadly, Xi repeated official promises to expand imports and to narrow China's trade surplus, another irritant for Washington.

The tougher environment means Chinese companies are creating fewer USA jobs.

During an eagerly awaited speech at a development conference on the tropical Chinese island of Hainan, Xi billed the planned cut in vehicle tariffs and a series of other measures as "a new phase of opening up."But numerous steps he outlined are ones Beijing has already proposed in some form".

Wang Sheng, an analyst with Shenwan Hongyuan Securities, said the president's remarks at the Boao Forum represented a substantial step forward in encouraging majority ownership by foreign vehicle brands in China.

China stocks ended higher on Wednesday as the market welcomed Beijing's pledge to further open the country's financial sector to foreign investors, and as worries about a trade war with the United States showed signs of easing.

Trump has often slammed China's huge surplus in the trade of goods with the United States, which reached $375 billion previous year, according to USA data.

Jinping has made similar promises before. "And we can only achieve win-win results by insisting on peaceful development and working together". That can make a significant difference in developing countries, where the government often accounts for most sales of computer software, medical equipment and other high-value goods.

Xi sounded a conciliatory note toward neighbors with which Beijing has territorial disputes, saying China wants to pursue peaceful cooperative development.

"In today's world, the trend of peace and cooperation is moving forward and the Cold War mentality and zero-sum-game thinking are outdated". "Arrogance or self-righteousness can only bump into walls at every turn".

Recommended:

  • Chicago Cubs Fans Punch & Push Two Brewers Fans In Stands During Game

    Chicago Cubs Fans Punch & Push Two Brewers Fans In Stands During Game

    Milwaukee starter Zach Davies allowed a run through six frames before Jacob Barnes allowed four 9th inning runs for a BS and loss. Stanton is still looking for his stroke - the NL MVP is hitting.167 with 20 strikeouts in 42 at-bats in his first year with NY .
    Irish boxer Conor McGregor arrest fiasco

    Irish boxer Conor McGregor arrest fiasco

    Conor McGregor has defended his actions in Friday's melee at the UFC 223 media day, to the promotion's president Dana White . The Mayweather bout last August was his last professional fight and McGregor and his girlfriend also had a son a year ago .
    Unusual Volume Spikes For: Ford Motor Co. (NYSE:F)

    Unusual Volume Spikes For: Ford Motor Co. (NYSE:F)

    The Company operates in four segments: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. Over the last 5 days, Ford Motor Company's shares returned 4.62% and in the past one month the figure appeared at 7.09%.
  • Facebook to contact users who could've had their privacy compromised

    Facebook to contact users who could've had their privacy compromised

    At that time, Sandberg said the company took no action because it believed Cambridge Analytica had deleted the data on its own. Still, Facebook users will no doubt be pleased to - eventually - be able to remove messages they change their minds about.
    BC vigil planned for Humboldt Broncos crash victims

    BC vigil planned for Humboldt Broncos crash victims

    The Broncos play in the Saskatchewan Junior Hockey League, an under-20 youth league that regularly produces NHL players. The RCMP continue their investigation into a deadly crash that they now say claimed the lives of fifteen people.
    Andhra special status: TDP MPs detained during protest outside PM Modi's residence

    Andhra special status: TDP MPs detained during protest outside PM Modi's residence

    The central government, however, blamed the Andhra Pradesh government for the delay on a special package to the state. However, it was never taken up for discussion due to continuous disruptions in the Parliament .
  • LG reveals the launch date of LG G7 ThinQ

    LG reveals the launch date of LG G7 ThinQ

    It's only then that we'll get to know all the details about the phone, including specs, features, availability, and pricing. It has been confirmed now that there will be five colors in total, and also the names of those colors have been confirmed.
    WWE WrestleMania 34: The Undertaker finally shows up, squashes John Cena

    WWE WrestleMania 34: The Undertaker finally shows up, squashes John Cena

    However, one has to wonder what will be next for her pro wrestling career as she'll need to have a singles match at some point. Rousey, 31, first hinted she would attend the New Orleans event with a surprise appearance at Royal Rumble in January.
    Russell Crowe cashes in at Art of Divorce auction

    Russell Crowe cashes in at Art of Divorce auction

    Crowe also parted with a collection of artwork, including the 1960 Charles Blackman work "The Suitor", which sold for $360,000. A leather jockstrap worn by Crowe in the 2005 movie Cinderella Man was won by a telephone bidder for $7000.
  • 20th Anniversary Of Good Friday Agreement Today

    20th Anniversary Of Good Friday Agreement Today

    Meanwhile, Mr Blair described Brexit as a "profound mistake" and warned of challenging consequences. For more than a year, the DUP and Sinn Fein have refused to share power in Stormont.
    Trump Tower fire claims the life of Harrison native

    Trump Tower fire claims the life of Harrison native

    Six firefighters suffered injuries that are not life threatening, Conroy was quoted as saying by the channel. Fire sprinklers were not required in New York City high-rises when Trump Tower was completed in 1983.
    India, Nepal vow to strengthen bilateral ties

    India, Nepal vow to strengthen bilateral ties

    We have developed our friendship according to time with a goal to eradicate poverty, improve living standards. Oli was received by Home Minister Rajnath Singh in the national capital on Friday.


Popular

15 die in bus crash involving Canadian junior hockey team
Mr Opp said: "There's uncles and moms and dads waiting to hear whether their sons and nephews are OK". Humboldt mayor Rob Munch said the tragedy had been overwhelming for the town of about 6,000 people.

IPL Fantasy Tips - Match 3 - Kolkata Knight Riders vs Royal Challengers Bangalore
Spin returned for the fifth over, this time in the shape of Washington Sundar, but even the Powerplay specialist wasn't spared. After clobbering the right-arm pacer for a six over long-on, Narine made room and struck two straight fours on the off side.

Arsenal 3 Southampton 2: Gunners enjoy home comforts as Welbeck sinks Saints
It didn't stop there, Danny Welbeck fired a wonderful strike in the 38th minute, making it 2-1 for the Gunners. The Mexico forward equalized with a brilliant finish after Marko Arnautovic cut the ball back.

YouTube Shooter's Strange Videos Key To Suspected Motive
On Wednesday, authorities searched two houses connected with Aghdam and collected evidence for the investigation. He and his buddy, Daniel Sanford-Salar, would see Aghdam taping her own exercise videos on a patch of grass.

Cleveland Cavaliers complete fourth-quarter comeback win over Washington Wizards
After a 39-point first quarter, the Cavs scored just 20 in the second quarter, when the pace slowed considerably. Fans will be keeping an eye on how the Philadelphia 76ers and Houston Rockets fare this coming NBA Playoffs.

Mohamed Salah beats Real Madrid superstar Cristiano Ronaldo to important award
With eight games remaining, Madrid are third in La Liga, four points behind second-placed Atletico and 13 adrift of leaders Barcelona.

Prince Charles's wife Camilla not bored at ceremony, insists Commonwealth Games president
While there, he was asked about claims made in a new biography, that he carries his own toilet seat everywhere he goes. The crowd also flocked to the Old Government House where General Peter Cosgrove personally greeted them.

Tottenham boss says Alderweireld absence not personal, contract-related
For a player considered by many as one of the world's best shot-stoppers, that's an alarming fall from grace. Stoke are second from bottom with 27 points from 32 games and face an uphill task to ensure their survival.

Nokia 7 Plus First Impression: Will it create an impact?
The Nokia 7 Plus follow suit in that trend running a pure version of Android Oreo without a bulky customized interface on top. Samsung led overall market with 24.7 per cent share in smartphone category and 20.5 per cent share in feature phone for 2017.

Trump fights trade dispute with phony number
US stock index futures fell in reaction to Trump's latest statement. "I don't care what the president tweets , no one wins". In an interview on CNBC, he said China's reaction "shouldn't surprise anyone" and the US isn't entering "World War III".