"Reciprocity" has become the new buzzword in the U.S. business community in China, with some industry leaders saying they would welcome a tougher approach from the Trump administration in opening up the markets of the world's second-largest economy.

The European Union is preparing an early summit with China in April or May in Brussels to promote free trade and international cooperation in the face of a more protectionist and inward-looking Washington, three EU officials said.

Wilbur Ross, Donald Trump’s incoming US commerce secretary, is facing questions over potential conflicts of interest stemming from his business ties to China’s largest sovereign wealth fund.

China's producer price inflation picked up more than expected in January to near six-year highs as prices of steel and other raw materials extended a torrid rally, adding to views that global manufacturing activity is building momentum.

The U.N. Security Council on Monday denounced North Korea's weekend missile launch, urging members to "redouble efforts" to enforce sanctions against the reclusive state.

The new administration is also likely to step up pressure on China to rein in North Korea, reflecting Trump's previously stated view that Beijing has not done enough on this front, the official said, speaking on condition of anonymity.

North Korea said on Monday it had successfully test-fired a new type of medium- to long-range ballistic missile the previous day, claiming further advancement in a weapons program it is pursuing in violation of United Nations resolutions.

The concession was clearly designed to put an end to an extended chill in the relationship between China and the United States.

A U.S. Navy P-3 plane and a Chinese military aircraft came close to each other over the South China Sea in an incident the Navy believes was inadvertent, a U.S. official told Reuters on Thursday.

U.S. President Donald Trump sent a letter to China's President Xi Jinping on Wednesday saying he looked forward to working with him "to develop a constructive relationship" that benefits both countries, the White House said in a statement.