President Xi Jinping said Beijing will ‘significantly lower’ tariffs on auto imports this year and ease restrictions on foreign ownership in the auto industry ‘as soon as possible’. Beijing:President Xi Jinping set the stage Tuesday for a possible effort to resolve a worsening clash with Washington over technology and trade by promising to cut auto import taxes, improve intellectual property protection and boost imports. Speaking to Chinese and foreign businesspeople, Xi didn’t mention Trump or their dispute. Xi repeated earlier official pledges to open China’s finance industries to foreign investors but gave no additional details. “China does not seek a trade surplus,” said Xi in comments that were broadcast on national television.

Source: Mint April 10, 2018 12:11 UTC