BEIJING: China's Foreign Ministry on Friday announced its decision to take countermeasures against seven US military companies and relevant senior executives over recent military assistance and arms s

China on Friday slapped sanctions on seven US companies after Washington's approval last week of a $571.3 million military aid package to Taiwan, which Beijing said infringed on its "sovereignty and territory".

China imposed sanctions on seven US military firms and their executives on Friday following a recent US arms sales to Taiwan. The Chinese Foreign Ministry stated that it froze the sanctioned firms'

China's industrial profits fell at a slower clip in November, official data showed on Friday, but the annual decline in earnings this year is expected to be the worst in over two decades due to persistently soft domestic consumption.

China's industrial profits extended their decline to a fourth straight month, dropping 7.3% in November from a year earlier.

China's industrial profits fell 7% year-on-year in November, marking the fourth consecutive monthly decline. The contraction was smaller than October's 10% drop and September's nearly 27% plunge. UOB's Suan Teck Kin said China's industrial sector remains under pressure in a disinflationary environment but believes the worst may be over due to stimulus measures.