In a significant development for international finance, China announced on Friday, April 24, 2026, that it has canceled countermeasures against two European Union financial institutions. The decision, effective immediately, follows the EU's recent withdrawal of sanctions against two Chinese financial entities.
The Chinese Ministry of Commerce confirmed that UAB Urbo Bankas and AB Mano Bankas have been removed from China's countermeasure list. The formal order was signed by Minister of Commerce Wang Wentao under Ministerial Order No. 1 of 2026.
This reciprocal move is seen as a constructive step towards de-escalating financial tensions between China and the EU. Analysts suggest it reflects a mutual willingness to resolve disputes through dialogue and could pave the way for smoother cross-border economic cooperation.
For global businesses and investors with interests in Asia, this announcement signals a potential stabilization in the regulatory environment. It underscores the dynamic nature of Asia's economic landscape, where diplomatic engagements continue to shape market access and financial flows.
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China cancels countermeasures against two EU financial institutions
cgtn.com
