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Media Report
May 11 , 2018
  • CNBC：How China is working hard to be less reliant on US farmers
    CNBC reports: "China is looking to boost its domestic production of soybeans amid a tit-for-tat trade war with the US. The world's second largest economy is offering subsidies to farmers in four provinces, mainly in the country's northeast, to urge them to switch to growing soybeans... The subsidies are reported in the local press to be as high as $552 per acre and were announced in the last few weeks. It also coincides with this year's planting season... China is the biggest buyer of soybeans globally, importing mainly from Brazil and the U.S."
  • Financial Times：US-China trade tensions cast doubt over Liu He visit
    Financial Times reports: "China's vice-premier Liu He's trip to Washington next week for a second round of Sino-US trade talks might be delayed because of continuing rifts in the Trump administration and unfinished preparatory discussions, according to people briefed on the planned negotiations. There are also more signs that the US business community is becoming increasingly nervous about the prospect of the Trump administration imposing tariffs on Chinese exports, potentially triggering a trade war. In a submission to the administration due to be released in Washington on Friday, the US Chamber of Commerce urged President Donald Trump not to follow through on his threat to levy tariffs, warning such a move would hurt American families and manufacturers while disrupting global supply chains."
  • CNN：JPMorgan wants to get back into China
    CNN reports: "JPMorgan Chase (JPM) is seeking approval from the Chinese government to launch a new brokerage in the world's second biggest economy, just weeks after Beijing relaxed restrictions on foreign ownership of financial companies. This will be the second attempt by the Wall Street giant to gain a serious foothold in China. In late 2016, it pulled out of a joint venture in which it had a 33% stake. China's securities regulator said Thursday it had received an application from JPMorgan seeking to establish a joint venture in which the bank would hold a controlling 51% stake. It didn't say how long the approval process would take."
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