China

BEIJING, Aug. 3 (Xinhua) -- China on Friday announced its decision to impose additional tariffs of four different rates on 5,207 items of imported U.S. products worth 60 billion U.S. dollars.

The rates of additional tariffs on such products will be 25 percent, 20 percent, 10 percent, and 5 percent, according to the Customs Tariff Commission of the State Council.

"China was forced to take the countermeasures" in response to a U.S. plan to raise tariffs to be imposed on 200 billion dollars of Chinese goods from 10 percent to 25 percent, the commission said in a statement.

Beijing, Aug 3 (AFP) Beijing warned today it was prepared to impose new tariffs on 60 billion worth of US goods if Washington ups the ante in the escalating US-China trade war.

The commerce ministry issued a statement saying the new duties would be applied if Washington pulled the trigger on President Donald Trump's threat to raise tariffs on 200 billion worth of Chinese goods.

The statement said China reserves the right to apply "other countermeasures".

Contestants from South China University of Technology celebrate during the awarding ceremony of the RoboMaster 2018 competition in Shenzhen, south China's Guangdong Province, July 29, 2018. (Xinhua/Mao Siqian)

BEIJING, July 29 (Xinhua) -- China's software and information technology sector posted faster growth in the first six months, official data showed.

The sector generated 2.9 trillion yuan (around 430 billion U.S. dollars) in revenue in the first half of 2018, up 14.4 percent year on year, the Ministry of Industry and Information Technology (MIIT) said in a statement.

The growth rate was slightly higher than that in the first five months and more rapid than the 13.6-percent increase a year ago.

BEIJING, July 25 (Xinhua) -- China expressed strong dissatisfaction and opposition on Wednesday to a U.S. defense spending bill which includes propositions aimed at China, and urged the U.S. not to disrupt the stable development of bilateral ties.

Foreign Ministry spokesperson Geng Shuang made the remarks at a routine news briefing when asked for comments about a draft bill of the U.S. National Defense Authorization Act for Fiscal Year 2019.

BEIJING, July 23 (Xinhua) -- China on Monday said it has no intention to spur exports through competitive devaluation of its currency, rejecting the United States' accusations of manipulating the exchange rate of the yuan.

"The yuan's exchange rate is mainly determined by market supply and demand," Foreign Ministry Spokesperson Geng Shuang told a press briefing. "It floats in both ways, which means there are ups and downs."

Currently, the good fundamentals of China's economy provide strong support for the exchange rate of the yuan to remain generally stable.

SHANGHAI, July 20 (Xinhua) -- China's research icebreaker Xuelong set sail from Shanghai Friday, marking the country's 9th Arctic expedition.

A team of 131 researchers, along with foreign scientists, will make the two-month trip of 12,300 nautical miles.

During the expedition, Xuelong will conduct research in Chukchi Rise and the Canada Basin in the Arctic Ocean and is expected to return to Shanghai before the end of September.

BEIJING, July 20 (Xinhua) -- China on Friday called on the United States to be responsible in its words and policy-making, to show good global governance instead of creating disorder.

Foreign Ministry spokesperson Hua Chunying made the remarks at a press briefing, responding to comments by Peter Navarro, director of the White House National Trade Council, that China was involved in a zero-sum game with the rest of the world on trade issues.

BEIJING, July 19 (Xinhua) -- The seventh World Trade Organization (WTO) review of China's trade policies, held in Geneva, was a complete success, a Chinese commerce official said Thursday.

"The routine policy review has received high attention as 70 WTO members spoke at the meeting, which set a new record," Gao Feng, Ministry of Commerce spokesperson, said at a press conference.

SHANGHAI, July 17 (Xinhua) -- A Chinese research group on Tuesday announced progress in developing a drug to treat Alzheimer's disease.

GV-971 was developed by Ocean University of China, Shanghai Institute of Materia Medica under Chinese Academy of Sciences and Green Valley Pharmaceutical Co., Ltd, after a 21-year study.

A phase three clinical trial is the last test before reaching the market.

In the trial, participants took 450 mg GV-971 orally twice a day for 36 weeks, which proved effective in improving cognition.