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South China Morning Post

China trims US Treasury stockpiles again, Panama Canal warning: SCMP daily highlights

Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing China trimmed its US Treasury holdings for a third straight month in May, amid escalating trade tensions with Washington and mounting concerns over a sweeping tax and spending bill. The trafficking of materials to make the drug fentanyl – the issue cited by the US in its initial tariff escalation against China in March – is set to be back in focus for future talks, analysts said, after two previous rounds did not appear to broach the subject. China's overall marketisation index, a measure of the strength of the country's market forces, is on the decline. Photo: Xinhua Chinese economists have called for more pro-market reforms to tackle economic imbalances and vicious intra-industry competition, as a new report has revealed a decline in a major index tracking the country's marketisation.