China sends direct message to Donald Trump as Beijing rolls out red carpet for American financial institutions

Tariffs and trade have become bone of contention between two of the world's largest economies - China and the US. Amidst the feud, China's Vice Premier He Lifeng told Morgan Stanley Co-President Daniel Simkowitz that Beijing welcomes more U.S. financial institutions and long-term capital to deepen cooperation, the official Xinhua news agency reported.

He Lifeng said at a meeting in Beijing that U.S. financial institutions, including Morgan Stanley, are welcomed to actively participate in the development of China's capital market.

Meanwhile, China approached the United Arab Emirates for a possible bilateral free trade deal, UAE's trade minister Thani Al Zeyoudi said on Wednesday, after an announcement of the launch of EU-UAE talks for a similar agreement.


Since 2021, the UAE has initiated a raft of bilateral trade, investment and cooperation deals - called Comprehensive Economic Partnership Agreements - to reduce its dependence on fossil fuels and bolster long-term growth prospects.

China may relax curbs on exports of rare earths for Chinese and European semiconductor firms and other companies in their supply chain, state media said on Wednesday.

In April, China put seven rare earths and related products on an export control list, forcing all exporters to apply for licences, regardless of the nationality of overseas customers.

FAQs

Q1. What is capital of China?
A1. Capital of China is Beijing.

Q2. Name a big US financial institution?
A2. Big US financial institution is Morgan Stanley.