mandag 30. september 2019

China moves to stem damage from trade war with US ahead of talks

China is stepping up its efforts to protects its economy from the ongoing damaging trade war with the US, ahead of fresh talks to resolve the dispute next month. The People’s Bank of China said it would step up adjustments to counter its slowing economy on Sunday, and to ensure there is “adequate liquidity” for the financial sector.

In a statement on Weibo, the social network, the PBOC said China will “continue to implement a prudent monetary policy and increase the strength of counter-cyclical measures”. The PBOC’s pledge came as the Chinese vice-commerce minister, Wang Shouwen, said Beijing would open up more sectors of the economy to foreign investors. Wang also announced that Beijing will send its top negotiator, vice-premier Liu He, to lead negotiations with the US in early October.