Chinese regulators have hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group.

China halted some of PricewaterhouseCoopers LLP’s business for six months for its role in auditing China Evergrande Group.

Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande

The Chinese government on Friday approved a plan to raise the country’s statutory retirement age, currently among the lowest in the world, in a long-awaited but broadly unpopular effort to address the challenge of its rapidly aging population.

China will raise its retirement age for workers, which is now among the youngest in the world's major economies, in an effort to address its shrinking population and aging work force. The Standing Committee of the National People’s Congress,

The European Union is aiming to hold a vote to introduce definitive tariffs on electric vehicles imported from China on Sept. 25, Bloomberg News reported on Friday, citing people familiar with the plan.

China's Commerce Minister Wang Wentao will visit Europe in the coming days for discussions on the European Union's anti-subsidy case against China-made electric vehicles (EVs) as a vote on imposing more EV tariffs looms.

The US has proposed rules that would hit many low-value shipments from China with new taxes - a measure aimed at curbing the flood of packages from shopping sites such as Shein and Temu. The Biden administration said the plan was intended to stop "abuse" of an exemption that allowed packages worth less than $800 (£600) to enter the US without facing tariffs and other fees.

The Biden administration has cracked down on Chinese e-commerce platforms by trying to close a trade loophole.

The Biden administration will restrict the use of a trade provision that lets China-founded e-commerce giants such as Temu and Shein to more easily ship to the U.S., a move that comes amid a groundswell of bipartisan pressure to close what critics regard as a “loophole.