Take Shell Plc, one of the world's largest liquefied natural gas suppliers. It is investing billions into new LNG supply on the expectation that global demand will expand 60% by 2040, driven largely by China. Its boss, Wael Sawan, told a conference in June that gas could make up 20% of China's energy mix, compared with single digits today.

Taiwan's foreign minister said on Wednesday that China has "added a lot of conditions" to its attendance at next year's APEC summit in the Chinese city of Shenzhen and gone back on a commitment to allow "equal" participation.

China has called for the US to avoid crossing four sensitive “red lines” in order to keep the two countries’ relations on track following a high-stakes meeting between leaders Xi Jinping and Donald Trump last week.

President Donald Trump began his second term by signaling that talks with China to stop a deadly flow of fentanyl were fruitless and instead slapped 20% tariffs on Chinese goods to try to push Beijing to tackle trafficking of the synthetic opioid.

China's services activity expanded in October but at its slowest pace in three months, as a decline in overseas orders offset the boost from improved domestic demand, a private survey released on Wednesday showed.