On 22 April 2025, the share prices of Chinese companies involved in cross-border trade and payment processing rose. Driving this growth was the announcement by the Chinese government to enhance the pilot programme for free trade zones, a strategy aimed at responding to tariffs imposed by the United States while simultaneously stimulating internal growth by bolstering the services economy and digital commerce.
The initiative, reported by the Xinhua agency, outlines a series of measures to make China’s free trade zones even more dynamic. Among the planned actions are support for biopharmaceutical firms importing materials for research and development, and authorisation for qualified enterprises to provide post-production services for the film industry. This opening is intended to attract investment in high value-added sectors, broadening the horizon of traditional trade.
The impact on the markets was immediate, extending also to logistics companies. Shares in CTS International Logistics reached the daily upper limit on the Shanghai Stock Exchange, while China Master Logistics rose by 8.6 per cent. These strong performances reflect investor interest in a sector poised to play a pivotal role in the new economic direction outlined by Beijing.
On the US side, President Trump has moderated his stance on tariffs against China, stating on 22 April that a deal with Beijing could result in a significant reduction. The statement followed a meeting with executives from major retail groups such as Walmart, Home Depot and Target. On 23 April, Trump told journalists he would secure a fair agreement with China, though he provided no specific details. According to reports from the Wall Street Journal, a proposal under consideration would see tariffs reduced by between 50 and 65 per cent gradually over five years. However, no timetable for the talks has yet been established.
Meanwhile, Indian carrier Air India – controlled by the Tata Group – is reportedly seeking to acquire the Boeing aircraft recently rejected by Chinese airlines in response to US tariffs. Bloomberg, citing anonymous sources, reports that Malaysia Aviation Group is also interested in the Boeing aircraft originally ordered by Chinese carriers.
