Major state banks have chopped dollar deposit rates for the second time in a month to prevent a prolonged slide in the yuan, which could discourage foreign investment and spur an outflow of funds

Beijing has ramped up trade rivalry with the US by announcing controls on gallium and germanium - two minor metals widely used in chips, EVs and high-tech products - and it could get worse

Yellen is expected to discuss cooperation on climate change and global debt distress, plus concerns about China's anti-espionage law in talks with senior finance officials in Beijing this week

Nikkei says an investigation has found that customs records confirm that Russia has been buying drones from Chinese companies specifically for use in its war in Ukraine

The US warns that China's anti-espionage law provides extra grounds to access and control data held by foreign firms in China and could criminalise normal business activity

US spy chiefs say the Chinese balloon downed in February did not collect any information, after it was shot down and recovered from the Atlantic Ocean

The rules, set to come into effect on September 1, will require Dutch companies that make advanced chipmaking equipment to seek a licence before they can export it

But the listing is set to be opposed by some US lawmakers over claims the company uses cotton produced by Uyghur forced labour

No Chinese firm has listed in US or Hong Kong under the new exhaustive rules, frustrating firms and investment bankers

An official government investigation is set to reveal the balloon, tracked across the US in February, carried American technology, according to the Wall Street Journal

The new Arizona chip factory is due to be up and running by next year and a second fab making the most advanced chips set to start production in 2026

Fresh export control rules being considered by the US will prohibit Nvidia from selling to China even those chips it specifically designed to meet earlier limits