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Analysts expected the PBOC to cut the LPR by 20 basis points, or 0.2 percentage points, later this month, to guide a further reduction of financing costs for smaller companies. The one-year LPR now is at 4.05 percent.

And that means opportunities for fraud. Globally in 2016, about 57 percent of the reported fraud cases took place during a transaction in which the consumer's card was not physically present, up from 35 percent of fraud cases in 2006.

An unnamed South Korean defense ministry official was quoted by Yonhap news agency as saying the suspended effectiveness of the GSOMIA expiry would keep in place the current military intelligence exchanges between South Korea and Japan.

And many of the more successful and sizable among them will merely grab market share from smaller peers already selling to the domestic market, resulting in a zero-sum scenario with only winners and losers.

Angel Saz-Carranza, director of the ESADE Center for Global Economy and Geopolitics, said the growing threat of protectionism in recent times has made open and collaborative China-EU relations more important. He urged the two governments to work on establishing further clarity in investment rules.