March 26, 2018 / 9:43 AM / 6 months ago

China offers to buy more U.S. semiconductors to cut trade surplus: FT

BEIJING (Reuters) - China has offered to buy more semiconductors from the United States by diverting some purchases from South Korea and Taiwan, to help cut China’s trade surplus with the U.S., the Financial Times reported on Monday, citing unidentified sources.

To avert a looming trade war with the U.S., Chinese officials are also rushing to finalize new regulations by May that will allow foreign financial groups to take majority stakes in its securities firms, Financial Times said, citing people briefed on the discussions.

Reporting by Ryan Woo; Editing by Kim Coghill

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