China to review financial service applications from US-capitalized firms

China's Ministry of Commerce announced it will review and approve applications from international financial services institutions, including those with United States capital, to operate and open branches within the country. This move follows economic and trade discussions held in New York and Washington.

In addition to the financial sector opening, China and the United States have released lists of products included in a reciprocal tariff reduction agreement. This agreement involves up to $30 billion on each side and covers a wide range of agricultural exports from the United States.