US President Trump signed a trade agreement with China that is expected to boost exports from US farmers and manufacturers and is aimed at lowering tensions in a long-running dispute between the economic powers.
China’s Commerce Ministry expects a favourable outcome from the next round of face-to-face trade talks with the US scheduled in September, as tensions between the world's two largest economies grow.
China's foreign ministry had earlier said the country will never surrender to external pressure after Washington renewed threat to impose tariffs on all Chinese imports in an escalating trade dispute.
Negotiations to raise a Chinese quota on imported films and boost the share that overseas producers get of box office takings are now being discussed within the broader framework of a US-China trade stand-off, sources say.
Apart from President Xi Jinping, Premier Li Keqiang was the only one to retain his spot on the 7-member Politburo Standing Committee, the height of power in the world's second largest economy. Five members were promoted, replacing the retiring ones.
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