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China economy feels the heat ahead of U.S. trade talks

Video Credit: Reuters Studio - Duration: 01:21s - Published < > Embed
China economy feels the heat ahead of U.S. trade talks

China economy feels the heat ahead of U.S. trade talks

China on Tuesday unveiled a flurry of measures to spur demand for items ranging from cars and appliances to information services.

As Francis Maguire reports, the move comes as more Chinese provinces cut their annual growth targets in 2019, and as a Reuters poll forecasts a further slowdown in factory activity.

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China economy feels the heat ahead of U.S. trade talks

As China feels the heat of a U.S. trade war, It's taken steps to spur sales of items ranging from cars to appliances.

Authorities say there will be fewer restrictions on the second-hand auto market, And 'appropriate' subsidies to boost rural sales of vehicles.

Despite China's efforts to stimulate the economy, Many observers say business conditions are likely to get worse in the coming months - before the impact of support steps are felt.

Economists forecast China's manufacturing PMI to dip in January to 49.3 - that would be its weakest reading in three years.

The trade war headwinds are spreading... The world's third largest economy Japan cut its exports assessment for January, With shipments of electronics and other equipment to China slowing due to the trade dispute.

All eyes will be on talks in the Washington this week, With Chinese Vice-Premier Liu He due to meet Donald Trump.

But the meeting happens against the backdrop of U.S. indictments against Chinese tech firm Huawei., (SOUNDBITE) (English) ACTING ATTORNEY GENERAL MATTHEW WHITAKER SAYING: "First, I am announcing that a grand jury in Seattle has returned an indictment that it alleges 10 federal crimes by two affiliates of Telecommunications Corporation Huawei technologies.

The U.S. accuses Huawei of bank and wire fraud to evade Iranian sanction, And conspiring to steal trade secrets from T-Mobile.

Huawei denies the charges.




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