Tuesday, 10 April 2018

Markets calmed by open-armed Xi Jinping speech easing trade tensions.

Chinese President Xi Jinping has vowed to usher in a "new phase of opening up" and promised to "significantly" cut import tariffs on cars amid simmering trade tensions with the US.

The closely-watched appearance at the Boao Forum pandered to a number of Donald Trump's gripes over Chinese trade with Xi pledging to strengthen intellectual property rights and slash tariffs on certain products.

The Chinese President also set out China's stall for future foreign investment, indicating that he will ease restrictions on foreign ownership in the car industry.

By Tom Rees.

Full story at Yahoo News.

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