China Sees Solid Start 6.8 Percent Growth

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Fears of a trade war with the USA have also roiled markets in recent weeks, with Washington and Beijing exchanging warnings of tit-for-tat tariffs on a significant portion of their bilateral trade.

China announced a timeline for lifting ownership limits on foreign automakers Tuesday, meeting a longtime demand of the United States and other countries seeking better access for their companies in the world's biggest auto market.

Earlier this month, the Chinese commerce ministry threatened to impose a 25% duty on USA agricultural products, including soybeans, wheat, and beef, in response to the U.S. proposal to levy duties on Chinese high-tech goods.

SHANGHAI-China said Tuesday it will phase out rules requiring foreign auto makers to share their factory ownership and profits with Chinese companies by 2022, answering US calls for a level playing field in the world's biggest auto market.

The preliminary action follows an anti-dumping and anti-subsidy investigation launched in February, after the United States imposed tariffs on Chinese solar panels and washing machines. Iowa, America's top pork-producing state, voted for Trump in 2016 but went to the Democrats in the previous two presidential elections.

China's Commerce Ministry says it will force US sorghum exporters to pay a temporary 178.6 percent "deposit", which will act as a tariff on the cereal grain that is used in China as feed for cattle and as a sweetener in many products, including baijiu, a popular Chinese liquor.

Data from the MOC showed USA sorghum exports to China surged from 3.17 lakhs tonnes in 2013 to 4.76 million tonnes in 2017, while export prices have slumped 31 per cent during the period, which led to a fall in domestic prices that hurt local industries, the Ministry said.

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Her show was replete with a long list of references to America's historically black colleges and universities (HBCUs). The singer established the program in 2017 to mark the one-year anniversary of her 2016 visual album, " Lemonade ".

President Xi Jinping announced the plans last week without providing any details.

"The biggest challenge for China's economy this year is a possible slump in the growth of consumer spending", said Jiang Chao, chief economist at Haitong Securities.

That will be followed by a similar repeal for makers of commercial vehicles in 2020 and passenger vehicles in 2022.

Carmakers complied because they gained access to China's populous market, which passed the United States in 2009 as the world's biggest by number of vehicles sold.

Limits on foreign ownership of electric vehicle producers will be eliminated this year, the Cabinet's planning agency said.

"China is the world's biggest electric vehicle market so it has a great deal of attraction to any auto company".

The step reflects growing official confidence in China's young but fast-growing carmakers and a desire to make the industry more flexible as Beijing promotes development of electric cars.

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