G20 to reinforce rules on subsidies in move seen to be aimed at China, backs WTO reforms

Trade and investment ministers in the Group of 20 (G20) major economies affirmed the need to reinforce international rules on industrial subsidies to ensure fair competition, according to a statement released on Wednesday by ministers.The statement to address government subsidies distorting the market, released after their meeting on Tuesday in Sorrento, Italy, is apparently aimed at China, a G20 member that treats state-owned companies favourably with subsidies and other measures.“We will…


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