US-CHINA trade talks appear to have stalled over high-tech issues,
reports Bloomberg.

Beijing rejects a US demands that China stop subsidising industries
related to its "Made in China 2025" initiative, Vice Premier Liu He
reportedly told officials.

The Americans accuse China of using the policy to force companies into
transferring technology in areas like robotics, aerospace and
artificial intelligence.

The US demands came after Beijing offered to narrow the trade deficit
by US$50 billion, including by importing more liquefied natural gas,
agricultural products, semiconductors and luxury goods, said the
report.

Another concession were plans to open the financial sector to give US
companies greater access to China's booming e-commerce market.

China was open to talks with the US, but wouldn't initiate them under
the current conditions, said the Bloomberg source.

A White House official who watched President Xi's speech welcomed his
remarks on intellectual property while saying that actions speak
louder than words.

The Trump administration, said the official, was unified in the view
that US jobs were endangered by what it called China's forced
technology transfers and state-directed intellectual property theft.