China has reportedly introduced measures to curb rising outflows of capital. According to the Financial Times, China’s State Administration of Foreign Exchange has ordered financial institutions to increase checks and boost controls on foreign exchange transactions. The move was targeted mainly at the practice of over-invoicing of exports used to hide capital outflows. Source: DW
Trump reiterated that he’s opposing the Nord Stream 2 gas pipeline.
“More gas supply routes to Europe wouldn’t have any negative effects for the United States,” Sebastian Kurz said. “Europe would buy more natural gas from the U.S. if the price was competitive.”
The natural gas market is emerging from winter relatively unscathed despite potentially disruptive Chinese tariffs on U.S. gas. But the ongoing trade dispute is still putting a chill on cooperation between the two energy powerhouses and threatens to sideline billions in investment. Source: CNBC
Earlier on Friday, the crown prince met Vice Premier Han Zheng where the two sides agreed to expand cooperation on both China’s grand one-trillion-dollar infrastructure programme, the Belt and Road Initiative (BRI) and on Saudi Vision 2030, an effort by Riyadh to diversify the economy beyond oil and grow modern service and hi-tech industries. Source: Aljazeera
