Banking sources say the net payments system is designed for large corporations and works directly with 11 Chinese provinces

Beijing warns it will impose counter-measures against countries doing deals that seek to compromise China's interests or trade

Top chip designer takes a $5.5 billion hit from US security clampdown, curbing sales of its H20 AI chip to cloud giants in China

China produces some 90% of the world's rare earths and is the dominant supplier of the vital elements to users around the world

Computer chips made outside the US could face a tariff soon, according to the US President, while a security review will be undertaken on critical technology products from China

After averting the risk of a 100% tariff on its chip sales to the US, the world’s largest contract chipmaker now faces the threat of a $1 billion penalty from Washington

The US has imposed tariffs ranging from 10% to 49% on countries across Asia and the rest of the world – plus two uninhabited Australian islands near Antarctica. In Asia there are fears of a trade war and a recession

The orders for Nvidia's H20 chip - the most advanced semiconductor the group is permitted to sell to China – came in the first three months of this year, a report by The Information said

Japan and South Korea reject claim by a Chinese state media outlet that the three countries will issue a joint declaration after Trump's 'reciprocal tariffs' are announced on Wednesday

Trump’s declaration has fanned fears of a global trade war and a recession, causing big losses in equities in Japan, South Korea and Taiwan

Around 40 executives joined the 90-minute meeting, the majority from the pharmaceutical sector. Seven foreign companies were invited to speak

Analysts have, since last year, been cautioning on a slowdown in Chinese spending on chip equipment