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Trade war

China corporate subsidies swell further in 2019 as US cries foul

Handouts up 15% so far, with Sinopec and carmakers receiving the most

 An employee pastes a "Made in China" sticker on the box of a smart television, which will be exported to the U.S., at a television factory under Zhaochi Group in Shenzhen.   © Reuters

GUANGZHOU -- China has roughly doubled its industrial subsidies since 2013, with further increases expected this year, creating a massive sticking point for the next phase of trade negotiations with the U.S.

The Chinese government doled out 156.2 billion yuan ($22.4 billion) of subsidies in 2018 to companies listed on the Shanghai and Shenzhen stock exchanges, Nikkei has found, based on data from financial research firm Wind.

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