All articles tagged with #market access
President Donald Trump signed a historic US-Japan framework agreement that enhances trade relations, provides over $15 billion in market access for US producers, and commits Japan to invest $550 billion in the US, creating jobs and boosting domestic industries across sectors like energy, agriculture, and manufacturing.
The CFTC's Division of Market Oversight issued an advisory clarifying the registration framework for foreign boards of trade (FBOTs), enabling non-U.S. entities to provide U.S. traders with legal access to global markets, including digital assets, and facilitating a return of crypto trading to U.S. markets under clear regulations.
The EU and China discussed trade issues at a summit, focusing on market access and reciprocity, with the EU emphasizing the need for China to reduce overcapacity and improve domestic consumption, and both sides acknowledging the importance of reliable supplies of critical raw materials. Progress is needed for the EU to maintain openness in trade relations.
President Trump announced a historic trade deal with Indonesia that eliminates tariff barriers on over 99% of U.S. exports, addresses non-tariff barriers, and enhances digital trade, aiming to benefit American workers, farmers, and exporters while promoting fair trade practices.
The U.S. Securities and Exchange Commission has approved the first 24-hour stock exchange, 24 Exchange, backed by Point72 Ventures. This marks a shift towards continuous trading, aligning with the growing demand from retail investors for round-the-clock market access. The exchange will initially operate during regular hours before expanding to overnight sessions, with a daily one-hour pause for maintenance. This development follows similar moves by other trading platforms, reflecting a trend towards extended trading hours in the U.S. equity markets.
Chinese Premier Li Qiang announced plans to issue new regulations on market access and cross-border data flows, welcoming companies from all countries to invest in China. The country aims to develop emerging industries such as biological manufacturing, artificial intelligence, and the data economy, while also easing some rules on foreign investment and data exports. With a focus on stabilizing economic growth, China's $18 trillion economy faces challenges including a property crisis, local government debt woes, and cooling foreign investment, prompting efforts to create a level playing field for foreign firms and lift curbs on overseas access in various industries.
China has rejected a complaint by the European Commission President over the EU's trade deficit with China, stating that the EU bears responsibility for the imbalance due to restrictions on high-tech exports. The Chinese Foreign Ministry spokesperson argued that the current state of trade is influenced by macroeconomic factors, international trade conditions, and the industrial composition of both sides. The EU has been highlighting its trade deficit with China, which reached a record €390 billion in 2022, ahead of the summit between European and Chinese leaders.
Following the leaders' summit between President Xi Jinping and US leader Joe Biden, China has taken several steps to restore foreign investors' confidence in the country. These steps include approving a long-delayed joint venture between Mastercard Inc., granting visa-free access to China for six countries, and greenlighting a major technology merger between Broadcom Inc. and VMWare Inc.
China's Premier Li Qiang pledged to expand market access and increase imports at the China International Import Expo, amid criticism from European firms who called for more tangible improvements in the country's business environment. Li stated that China is committed to opening up its economy and aims to reach a cumulative import value of $17 trillion within the next five years. He also mentioned plans to promote coordinated development of trade in goods and services, relax market access restrictions, and lift restrictions on foreign investment in manufacturing. The expo, launched by President Xi Jinping in 2018, aims to showcase China's free trade credentials and counter criticism of its trade surplus.
European Union governments are discussing how to reform EU decision-making and finances in preparation for the potential enlargement of the bloc. The European Commission plans to propose cash and market access for candidate countries to expedite their membership preparations. The EU is currently considering eight countries with official candidate status and two potential candidate countries. The Commission will present a package of measures to offer gradual market access and additional funding to help these countries reform. The discussions also involve a paper by French and German scholars calling for a radical overhaul of decision-making and funding before accepting new members. Changes to agriculture policy, regional policy, and the EU budget would be necessary if new members were to join. The paper suggests the creation of four tiers of European integration, with closer cooperation allowed for some countries.
Chinese President Xi Jinping announced that China will widen market access in the service industry and promote cross-border services trade. The country aims to expand the domestic market, increase imports of high-quality services, and reform the basic data system. This move comes as China's trade has slumped in recent months, prompting the introduction of further policy support to boost economic recovery.
US Commerce Secretary Gina Raimondo expressed optimism about US firms' desire to do business in China and hopes for further engagement with Chinese officials on market access, despite earlier remarks that China was "uninvestible." Raimondo acknowledged the challenges faced by US businesses in China, including fines, raids, and unclear regulations, and emphasized the need for a predictable regulatory environment. She highlighted the importance of dialogue and mutual trust between the two countries, stating that the US does not want to decouple from China. However, concerns remain over trade and investment flows, with global investors pulling out of Chinese assets and foreign direct investment at a 25-year low.
As China tightens its grip on foreign companies operating within its borders, some firms are turning to a new strategy called "siloing" to maintain market access. Siloing involves creating separate entities for different business units, which allows companies to continue operating in China even if one unit is penalized or shut down. This strategy is becoming increasingly popular as China's regulatory environment becomes more challenging for foreign companies.
Foreign banks are being left out of initial public offerings (IPOs) in China due to regulations that limit their market access. Despite China's efforts to open up its financial sector, foreign banks are still struggling to compete with domestic banks in the country's IPO market. This has led to concerns that foreign banks may miss out on lucrative deals and opportunities in China's rapidly growing economy.
Fanatics has agreed to purchase PointsBet's U.S. business for $150 million cash, a move that will accelerate the company's push into U.S. sports betting. The deal will give Fanatics additional technology and trading capabilities, as well as valuable market access in a handful of new states. PointsBet's net sale proceeds will be distributed to its shareholders, along with a "majority" of its cash reserves. Fanatics plans to offer betting rewards that can be redeemed for jerseys, hats or trading cards, and could eventually package its betting options alongside all the other things it sells.