The European Union proposed sanctions against Chinese and other foreign companies buying Russian oil, as part of a package of measures intended to show President Trump the bloc is ramping up economic pressure on Russia and its backers, the Wall Street Journal reported. The EU also would impose new banking sanctions, blacklist additional companies aiding Russia’s military and speed up its plan to phase out purchases of Russian liquefied natural gas. The measures will need the backing of all 27 member states, which isn’t guaranteed.

Ocean shipping companies say importers and exporters won’t have to pay surcharges when new fees are imposed next month on Chinese ships at U.S. seaports, the Wall Street Journal reported. Some businesses fear price increases are coming anyway. Peter Friedmann, executive director of the Agriculture Transportation Coalition, which represents American farmers, said ocean carriers can’t pass on extra costs today because trade flows are falling and carriers are fighting for market share. They will have to pass on those new costs eventually, he said.

China Evergrande Group's liquidators have been appointed to identify and preserve the assets of founder Hui Ka Yan, the Hong Kong High Court said in a ruling on Tuesday, Reuters reported. Hui, once one of China's richest people, has not been seen in public since he was detained by Chinese authorities in 2023 and has not complied with a court order to disclose his assets in Hong Kong and overseas. Evergrande, the most high-profile casualty of China's prolonged property crisis, began defaulting on some of its bonds in 2021 and collapsed with more than $300 billion in liabilities.

China's new home prices fell again in August, extending a prolonged slump in prices as persistently weak demand in the pivotal housing sector remains a drag on economic growth. Prices slipped 0.3% in August from the previous month, according to Reuters calculation based on data released by the National Bureau of Statistics. The figure matched July's month-on-month decline and extended a weak trend that has persisted since May 2023. On an annual basis, new home prices dropped 2.5% in August, narrowing from a 2.8% decline in July. China's real estate sector entered a downturn in 2021.

The liquidators of China Evergrande Group have received non-binding indicative offers for the developer’s majority stake in its property management arm, and potential bidders will be invited to submit final offers as soon as November, a filing showed, Reuters reported. Evergrande’s liquidators control a 51.016% holding in Evergrande Property Services Group according to the filing by the unit on Thursday. Evergrande Services had a market value of about HK$9.95 billion ($1.28 billion) before the announcement, LSEG data showed.

Beijing has warned Mexico to think twice before moving ahead with a plan to raise tariffs that could hurt Chinese automakers, saying it would retaliate against the measure, the Wall Street Journal reported. “At a time when the U.S.’s abuse of tariffs has sparked widespread global opposition, countries should strengthen communication and coordination to jointly safeguard free trade and multilateralism, and must not sacrifice the interests of third parties due to coercion,” a Chinese commerce ministry spokesperson said in a statement released late Thursday.

China's central bank said on Friday it plans to better regulate cross-border yuan financing between banks, and promote offshore use of the Chinese currency, Reuters reported. China is ramping up the pace of yuan globalisation as Beijing seeks to reduce its reliance on the U.S. dollar amid simmering trade and geopolitical tensions with Washington. The People's Bank of China (PBOC) said in draft rules that it will introduce a counter-cyclical mechanism to manage cross-border, interbank yuan financing.

China will roll out a three-month nationwide campaign to curb online misconduct in the auto industry, aiming to foster fairer competition in the country’s rapidly growing new energy vehicle (NEV) sector, according to a notice released on Wednesday by the Ministry of Industry and Information Technology, China Daily reported.

Mexico said on Wednesday it will raise tariffs on automobiles from China and other Asian countries to 50%, in a broad overhaul of import levies the government said would protect jobs and analysts said was aimed at placating the United States, Reuters reported. The Economy Ministry said that the moves, which will increase tariffs to varying degrees on goods across multiple sectors including textiles, steel and automotive, would impact $52 billion of imports.