Significant positive! China and the United States agree to cancel the tariff increase in stages! RMB

On November 7, the State Council issued a message to completely abolish the restrictions on the business scope of financial institutions such as foreign banks, securities companies and fund management companies in China.

According to Xinhua News Agency, the General Administration of Customs and the Ministry of Agriculture and Rural Affairs are studying the lifting of restrictions on the export of American poultry meat to China.




Gao believes that the cancellation of the tariffs imposed by the two parties in accordance with the agreement will help stabilize market expectations, benefit the economies of the two countries and the world economy, and benefit producers and consumers.

On November 5, US Commerce Secretary Ross, who is attending the East Asia Summit in Thailand, said in a conference call with the Asia-Pacific media that he is reasonably optimistic about the progress of Sino-US trade negotiations. Ross said that Sino-US trade negotiations are working hard to complete the first phase of negotiations, and are making good progress. This part of the negotiations is mainly about current trade issues, such as natural gas and soybeans. In addition, there are still some structural issues to be resolved. These issues are not the focus of the first round of negotiations and may be resolved in the subsequent negotiations.

For the first phase of the trade agreement, Ross pointed out that it will have two importantities:

The first is the direct impact on trade. "This will help ease the tension between the two countries and facilitate the daily trade between the two sides."

Second, it may be more important and will help rebuild mutual trust. “As we continue to deepen our negotiations and enter into discussions on major issues such as intellectual property rights, compulsory technology transfer, and equal market access, we hope that the first phase of the agreement will pave the way for future discussions and build a good discussion atmosphere. .

Affected by related news, global stock markets jumped:

The Hang Seng Index, which was originally in a downtrend, suddenly rose and closed up by 0.57%.

FTSE China A50 Index futures rose 0.4%;

After the European stock market opened, it also soared across the board. The FTSE 100 rose 0.28%, the French CAC40 rose 0.16%, and the German DAX rose 0.45%.

US stocks three major stock index futures rose short-term, the Dow futures rose 0.53%, the S&P 500 futures rose 0.44%, and the Nasdaq futures rose 0.53%;

Offshore RMB against the US dollar jumped more than 400 points, today's lowest reached 7.0202, currently quoted at 6.781.




A few days ago, China and the United States just got a call.
The ultimate goal of the Sino-US consultation is to stop the trade war.

On the evening of November 1, Liu Heying, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, spoke to US Trade Representative Wright Heze and Finance Minister Mnuchin.

The two sides conducted serious and constructive discussions on properly addressing their core concerns and reached consensus on principles. The two sides discussed the next consultation arrangements.




On the evening of October 25, Liu He should talk to Wright Heze and Mnuchin. The two sides agreed to properly resolve their core concerns and confirmed that the technical consultations on some of the texts were basically completed.

The two calls, Minister of Commerce Zhong Shan, Governor of the People's Bank of China Yi Gang, and Deputy Director of the National Development and Reform Commission Ning Jizhen participated.

According to Xinhua News Agency, US White House spokesman Hogan Gidely said on the 30th that the US government still expects to finalize the first-phase trade agreement with China in November.

Earlier in the day, the Chilean government announced that it would abandon the informal meeting of the leaders of the Asia-Pacific Economic Cooperation (APEC) scheduled to be held in November this year. Gidely subsequently issued a statement saying that there are no alternative locations for the APEC meeting so far, but "we look forward to finalizing the first phase (content) of the historic trade agreement with China within the same time frame."

Earlier, US government officials have repeatedly stated that the US hopes to sign a first-phase trade agreement with China at the APEC meeting scheduled to be held in November.

A spokesperson for the Chinese Ministry of Commerce issued a statement on the 31st of Beijing time, saying that the economic and trade teams of China and the United States have maintained close communication and the consultation work is progressing smoothly. The two sides will continue to promote consultations and other work as originally planned.

Earlier on October 11, according to Xinhua News Agency, US President Trump said that he believes that the United States and China have "very close" to end the trade war, and the two sides will reach an agreement on the United States and China. The world is good.




On the afternoon of the same day, Trump answered questions from Chinese and foreign journalists at the White House Oval Office on US-China economic and trade consultations. In response to a question from a Xinhua News Agency reporter, he said: "I think we are very close (end the trade war). I think the current is a very important stage."

Trump also mentioned in the question and answer process that he is very happy to see that the US-China Economic and Trade Consultation has achieved a substantial first-phase result, which is a major positive for the United States and China and the world. It is hoped that the teams of both sides will work hard to determine the text of the first phase agreement as soon as possible and continue to promote follow-up consultations.

Trump has repeatedly stressed that the United States and China will reach a "great agreement" whose significance will transcend the tariff issue itself. He said that he fully agreed with China's handling of the Sino-US economic and trade relations that are beneficial to China, to the United States, and to the peace and prosperity of the world. For this reason, "the whole world is closely watching (China-US economic and trade consultations)."

On Sino-US relations, Premier Li Keqiang said in a meeting with former US Treasury Secretary Paulson in the Great Hall of the People that the current international situation is complicated and complicated. China is unswervingly expanding its openness and taking the path of peaceful development. Together, countries around the world promote world peace, development and cooperation. China and the United States should, in accordance with the consensus reached by the two heads of state, adhere to the tone of coordination, cooperation and stability on the basis of equality and mutual respect, properly manage differences, promote the development of Sino-US relations, and achieve mutual benefit and win-win through cooperation. This is not only beneficial to both countries but also to the world.

The spokesman of the Ministry of Commerce spoke on the previous news release. At present, China and the United States are stepping up consultations and striving to implement the text of the agreement. China has never changed its stance principles and objectives for Sino-US economic and trade consultations. The ultimate goal of the consultations between the two sides is to stop the trade war and cancel all the additional tariffs, which is beneficial to China, to the United States, and to the whole world.


(Contents compiled from 21st Century Business Herald, People's Daily, Xinhua News Agency, Global Network, Brokerage China, China Fund News, Shipping Network, Shipping Information)

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