Trade remedy measures against high-tech and high value-added product exports from China rose significantly in the first six months of the year, despite an overall slowdown in the number and value of trade friction cases. About 37 trade remedy cases were filed against Chinese companies between January and June, including 32 anti-dumping cases. Fourteen countries and regions, mostly G20 members, initiated investigations against Chinese products, down 30% year-on-year, the Ministry of Commerce (MOFCOM) said. The United States launched six trade remedy probes against Chinese products in the past six months. Countries from Latin America filed 14 cases during the period, up 27% from the same period a year ago. “We noticed that China’s high-end products such as photovoltaic products, tires, wind turbines and smartphones had encountered more trade investigations over the past three years,” Shen Danyang, Spokesman for MOFCOM said. “China has been deploying more resources and manpower to enhance its negotiating abilities after several such cases occurred in recent years.”

China said it has opened an anti-dumping investigation into imports of electrical steel from Japan, South Korea and the European Union. The Commerce Ministry (MOFCOM) said the probe is aimed at determining if the imports of grain-oriented flat-rolled electrical steel have damaged the Chinese steel industry. The steel is used in products such as motors and transformers. The start of the Chinese investigation follows the European Union’s decision in May to impose provisional anti-dumping duties on imports of the steel from China, Japan, Russia, South Korea and the United States. The European Union’s provisional decision was made following a complaint lodged in June last year by the European Steel Association. Under the decision, Chinese companies, including Baoshan Iron & Steel and Wuhan Iron & Steel, have been slapped with anti-dumping duties of 28.7%.

An intellectual property rights mediation center was founded on July 13 in Yiwu, China’s major commodities trading center in Zhejiang province. Co-sponsored by the local court and a number of government administrations and industry associations, the center offers free mediation services to involved parties in IP disputes in Yiwu. The mediation results have the same legal effect as court rulings. The mechanism will not only save costs, but also increase efficiency, compared with filing a lawsuit. Officials at the center explained that when the court receives a lawsuit, it sends an indictment to the defendant, who has 30 days to prepare a reply to the charge, and IP lawsuits usually last about 70 days before a verdict is released. In contrast, if the center receives a complaint, it starts mediation within a week and the process lasts no more than a month. If no conciliation is reached within 30 days, the center will transfer the case to the court. The center received 10 cases during a trial operation that started in early July, eight of which ended in successful mediation, the China Daily reports. The court of Yiwu received 1,022 IP-related civil lawsuits in 2014, more than 20 times the number in 2008.

The number of Chinese companies on the Fortune 500 list rose for the 12thyear in a row to 106, with six more entering for the first time, including Shaanxi Coal & Chemical Industry Group Co, China Everbright Group Co and HNA Group. The United States still has the largest number, 128, unchanged from last year, but the list’s compilers estimate that China will overtake the U.S. by 2020. China Petrochemical Corp (Sinopec Group), with a total sales revenue of USD446.81 billion in 2014, is No 2 behind Walmart. In the sub-list of the most profitable companies, 13 out of the Top 50 were from China. Industrial & Commercial Bank of China (ICBC) topped the list with total profits of USD44.76 billion last year, beating Apple and Exxon Mobil Corp. Grain trader COFCO Corp saw its position rise the most in the Fortune 500, jumping from 401 to 272. China Merchants Bank (CMB) enjoyed the second-best growth rate, with its position rising to 235 from 350. The majority of the 106 Chinese companies were state-owned, with 47 directly under the control of the State Assets Supervision and Administration Commission (SASAC). 13 Chinese companies were listed in the “the top 50 companies which suffered the greatest losses” led by Aluminum Corp of China, which lost USD1.76 billion last year, the China Daily reports.

A key economic survey has predicted China’s July manufacturing activity to contract the most in 15 months, driven by rising industrial deflation and dropping commodity prices. The study, conducted jointly by Caixin Media Co and Markit, suggests the foundations of the current economic recovery are still fragile and it is urging the government to implement more policies to support an economic rebound. The preliminary reading of the flash Caixin/Markit Purchasing Managers Index (PMI) fell to 48.2 in July, the lowest since May 2014, down from 49.4 in June. The July figures are the first to be released since the index was renamed after Beijing-based Caixin replaced HSBC Holdings as its sponsor. The sub-index which indicates manufacturing output deteriorated to 47.3 in July, a 16-month low, down from 49.7 in June, while new orders fell to 48.1 from 50.3 in June, the lowest level in 15 months.