Reportedly, the Chinese administration would like the U.S. to call off “unsuitable” actions against Chinese companies, Wang Shouwen, Vice Commerce Minister said in recent time. The U.S. DOC (Department of Commerce) added five Chinese technology companies to the entity list that efficiently debars them from purchasing parts from American firms. According to CNBC, Wang said, “We expect the U.S. side, under the values of free trade and the strength of WTO (World Trade Organization) ethics, might cancel these unsuitable measures against Chinese firms, and eradicate them from the entity list. This has benefits for both parties.” He was speaking during a press conference about China’s President Xi Jinping’s upcoming visit to the G-20 summit in Osaka, Japan.
The recent U.S. measures come following Chinese telecom and smartphone titan Huawei was placed in the entity list in May and subsequent to Trump and Xi’s phone call about intends to meet at the G-20 summit. Michael Hirson said that the step would not disturb planning for a Trump-Xi meeting honestly, but Beijing would see it as further verification that those around Trump plan to blunt China’s rise as a technology power. The U.S. and Chinese stock indexes improved after news of the call, in expectations of the two largest economies globally to soon reach a contract on the trade spat that has lasted for over a year, and agitated global equity markets plus boosted concerns regarding economic growth worldwide.
On a similar note, recently, FTSE analyst stated that China is now “very big to ignore.” The growing globalization of Chinese bonds and equities means China is now “extremely big to ignore,” as per to Philip Lawlor, Managing Director of Global Markets Research at FTSE Russell. Recently, FTSE Russell started the first stage of its Chinese A-share inclusion, beginning with its emerging Index. The step saw 1,000 small, medium, and large capitalization Chinese firms adding to the index, representing first net submissive inflows of $10 Billion of possessions under management.
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