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Cars imported from the United States might soon lose their appeal, as China has decided to impose an additional 25 percent tariff on a list of 106 items, which includes automobiles, in a retaliatory response to the Trump administration's tariff proposals.

Changes expected to vitalize markets and reduce burdens for companies

Carmakers in China recalled more than 20 million defective cars in 2017, a record high since the country introduced legislation on car recalls in 2004, according to an official with China's top quality watchdog.

Cathay Smart Energy Fund will invest single tickets, ranging from 30 million yuan to 100 million yuan, in new technologies and new business models in the Chinese energy sector, with a particular focus on energy internet, energy storage, energy efficiency, distributed energy, energy solutions for new energy vehicles including electric and hydrogen vehicles, renewable energy and low-carbon and carbon neutrality technologies.

Carrefour follows other foreign retailers' retreat from China's market, such as Tesco Plc and Walmart Inc. Reuters said German wholesaler Metro AG is also looking to sell its Chinese branch.