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China steps up effort to avert US trade war

Mar 26 , 2018

Chinese officials are rushing to finalise new regulations by May that will allow foreign financial groups to take majority stakes in securities companies as they seek to avert a looming trade war with the US.

According to people briefed on the discussions, Beijing has also offered to buy more semiconductors from the US by diverting some purchases from South Korean and Taiwan manufacturers, in an effort to help reduce annual $375bn merchandise trade surplus with the US.


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