China will launch an inquiry into whether to impose countervailing duties on potato starch imports from the European Union, the commerce ministry said on Monday, its first such proposed action against the 27-nation bloc.
The ministry anounced the investigation on its website (www.mofcom.gov.cn), saying Beijing would examine the size of subisides for potato starch from the EU, its biggest trade partner, and whether they harm the Chinese industry.
The number of anti-dumping and countervailing cases initiated by China against other countries and vice-versa is rising, a sign of increasing trade friction following the global financial crisis.
Many of China's trade partners would like to see faster appreciation of the yuan, saying that an undervalued currency gives Chinese exporters an unfair competitive edge.
The United States has been particularly vocal in its criticism of China's currency policy, but the EU has also become more outspoken recently.
The EU thinks China has made only limited progress in allowing the yuan to appreciate and swifter action would help safeguard a fragile economic recovery, according to a draft G20 document obtained by Reuters.
The United Arab Emirates' exchanges in Dubai and Abu Dhabi led the dive in liquidity levels, which measure the value of traded shares and are normally a reflection of the health of national economy.
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The figure was slightly lower than analysts had forecast, following a 1.4 percent hike in overall prices in August.
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Investors will also be tracking the start of an EU summit where Brexit will once again be the focus of attention.
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While optimism remains over the world economy and corporate earnings -- helping push global markets to all-time or multi-month highs -- investors moved carefully as they await the next catalyst.
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