On Tuesday, the EU voiced concerns over China's planned curbs on exports of some gallium and germanium products and expressed doubts that the move was related to national security

Business activity and new orders both expanded at notably slower rates last month than in May, the Caixin PMI showed.

Former vice commerce minister says China's countermeasures will escalate if tougher tech restrictions are imposed. Analysts say they could extend to rare earth elements.

One German business chief said it must “end unilateral dependencies” after Beijing moved to restrict exports of rare metals key to making memory chips

The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

Insiders and analysts say Pan Gongsheng is known as a risk averse financial technocrat, who played a key role in crackdowns on perceived threats over the past decade

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

Torrential rain triggered flash floods and hailstorms in northern China as the region remains in the grip of unusually hot weather

Sources claim two of India's three private refiners have settled some recent Russian oil import deals in Chinese yuan

Experts say latest data coming in from China pointed to the world’s biggest EV market recovering from a slump and getting “back on the fast-track"

The move comes as Japan works to revitalise its chip industry, and the European Union looks to reduce its dependence on China-dominated supply chains