China and EU intensify trade talks, agree company price undertakings
Business
China and the European Union (EU) are stepping up trade talks to cool off rising tensions.
After a meeting between top officials, both sides reached an "understanding" in a joint statement from China's commerce ministry cited by AFP on trade in hybrid vehicles and agreed to follow "procedures concerning company price undertakings," from the same joint statement cited by AFP, hoping to keep things fair and avoid more conflict.
China pledges continued rare earth supplies
A big win for the EU: China promised it will keep supplying rare earth minerals, which are essential.
This assurance comes as the EU faces a massive daily trade gap with China (about €1 billion) and ongoing worries about fair play in business.