- Banking and Finance Laws
- China Law News
- Intellectual Property
- Private Equity and Venture Capital
- Retail Trade and Distribution
- Technology Media and Telecom
In the News: Phase One Deal Signed; Online-Only Banking Rules; and US Venture Drop
January 20, 2020 | BY
Vincent ChowChina, U.S. sign phase one trade deal in trade war breakthrough, but tariffs and issues remain; Reuters reports imminent first rules for online-only banks in China, foreign participation welcomed; and U.S. venture investment in China sinks to six-year low amid trade war and slowing Chinese economy
Phase one trade deal signed, some tariffs removed
China and the U.S. signed a phase one trade deal at the White House on Jan. 15. U.S. President Donald Trump and Chinese Vice Premier Liu He signed the agreement, the culmination of almost two years of negotiations in the ongoing trade war between the world's two large economies. The 86-page accord reached in December stipulates the halving of U.S. tariffs on $120 billion of Chinese goods to 7.5% and the suspension of additional tariffs, while China has pledged to purchase $40 billion of U.S. agricultural products.
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now