CHINA ISSUES ‘NEGATIVE’ TRADE LIST

In the wake of the US-China trade battle, the latter has released a list of 151 business sectors in which investors, both domestic and foreign, are either prohibited or significantly restricted. The document is meant to assure all that they are on a level playing field. The prohibited areas include illegal financing and unlawful Internet activities while mining, agriculture and manufacturing require prior approval. Meanwhile, the trade dispute has taken its toll on Apple as it has slashed its sales outlook for fiscal 2019 first quarter by nearly 8 per cent to $84 billion due to poor iPhone sales, especially in China. The company said it “did not foresee the magnitude of the economic deceleration, particularly in Greater China”.