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Announcing the move, Secretary of State Mike Pompeo said the United States would cease to regard itself as being bound by the treaty starting Saturday, which is when Washington will formally inform Moscow of its intent to withdraw, a senior US official told reporters.

Ant did not disclose the size of its planned listing nor the timing. But the Hangzhou-based company is targeting a valuation of more than 0 billion, according to sources quoted by Reuters.

Apart from many developed countries' efforts to prevent a recession, the weak goods demand across the globe and the appreciation of the renminbi will create obstacles for Chinese manufacturers in shipping their products in the second half of this year, he added.

Apart from the mature market abroad, CIMC Enric also expects the acquisition to help the company strengthen its position in the growing Chinese market, as CIMC Enric believes the growth pace of craft beer in China will remain at 40 percent each year, although currently the business only occupies 1 percent of the domestic market.

Anne Van Praagh, managing director, said Chinese efforts to reform and deleverage State-owned enterprises "will probably hit the pause button in the face of slower growth in 2019."