BEIJING: China’s Premier Li Keqiang has voiced hopes that Beijing and the US can avoid a trade war, telling the close of the annual parliament session that China will open its economy further to allow foreign and Chinese firms to compete on an equal footing.
Fears of a global trade war mounted after US President Donald Trump imposed hefty import tariffs on steel and aluminum earlier this month and, according to sources in Washington, the US is set to unveil new tariffs targeting China by the end of this week.
“I hope both China and the US will act rationally and not be led by emotions, and avoid a trade war,” Li told reporters in a televised news conference at the Great Hall of the People in Beijing.
Those hopes would be damaged if, as sources say, Washington goes ahead with plans for new tariffs on up to $60 billion-worth of Chinese technology and consumer goods annually, in a move to fulfil Trump’s campaign promises to get tough on China and its trade practices.
Earlier on Tuesday, riding high after China’s largely rubber-stamp parliament unanimously re-elected him and set the stage for him to rule indefinitely, President Xi Jinping warned self-ruled Taiwan it would face the “punishment of history” for any attempt at separatism.
The warning came just days after Trump angered Beijing by signing into law legislation encouraging closer ties between Taiwan and the US.
But for the world, the potential fallout from any trade conflict between its two biggest economies posed the more pressing danger.
Without going into detail, Li told his annual press conference that China will improve access to its services and manufacturing sectors while further lowering import tariffs, including those on cancer-related drugs.
“China’s economy has been so integrated with the world’s that closing China’s door would mean blocking our way for development,” Li said.
“China’s aim is to ensure that both domestic and foreign firms, and companies under all kinds of ownership structure, will be able to compete on fair terms in China’s large market.”
During his half-hour closing speech, President Xi was heavy on aspirational themes, and he delivered a strong message on Taiwan, which is claimed by China as part of its territory.
“Any actions and tricks to split China are doomed to failure and will meet with the people’s condemnation and the punishment of history,” he said to loud applause from almost 3,000 parliamentary delegates.
China has been infuriated by Trump’s signing of legislation that encourages the US to send senior officials to Taiwan to meet Taiwanese counterparts and vice versa.
Xi made repeated references to a resurgent nation of 1.3 billion people that would “ride the mighty east wind of the new era” and was on the cusp of matching the country’s greatest achievements in its long history.
At the same time he said that increasing global concerns over China’s rise were unjustified. “Only those who are in the habit of threatening others will see everyone else as a threat.
“We will not impose our will on anyone,” he said.
When Xi’s top economic adviser Liu He visited Washington recently, the Trump administration pressed him to find ways to reduce China’s $375 billion trade surplus with the United States. “We are unwilling to see a big trade deficit, not only with the US,” Li said. “We hope trade will be balanced.”
In his remarks, Li said that as China widens access to its markets, there will be no forced transfers of technology, and China will better protect intellectual property rights.
Trump accuses Beijing of forcing US companies to transfer their intellectual property to China as a cost of doing business there, although China has insisted that technology transfers are not a condition of gaining market access.
A source who had direct knowledge of the Trump administration’s thinking said last week that the tariffs would chiefly target information technology, consumer electronics and telecoms, and other products benefiting from US intellectual property.
But they could be much broader and hit consumer products such as clothing and footwear, with a list eventually running to 100 products, the source said.
“We hope the US could ease restrictions on high-tech or high value-added product exports,”
Li said.
“We will strictly protect intellectual property. We hope this important means for balancing China-US trade will not be missed, otherwise we will lose a chance to make money.”
Before the press conference, Li introduced China’s four new vice premiers, including Liu He, widely regarded as the country’s new economic tsar. But, adhering to protocol, it was the premier who did all the talking.
Li said China was confident of achieving its 2018 economic targets. The government aims to expand its economy by around
6.5 percent this year, having surpassed the same target in 2017.
China’s financial sector was in good shape and banks have enough provisions, Li said, adding that regulators would take “resolute measures” to tackle financial risks.
The Chinese central bank was being given responsibility for drafting laws covering the banking and insurance sector, with regulation over the $42 trillion sector becoming more streamlined.
Li said he was willing to consider a formal visit to Japan, amid signs of improving ties between the two nations.
Tokyo has repeatedly pressed Beijing to do more to help rein in North Korea’s missile and nuclear programs. China said it is committed to enforcing UN sanctions, but that all parties need to do more to reduce tensions and restart talks.
China’s premier hopes trade war can be averted, pledges more open economy
China’s premier hopes trade war can be averted, pledges more open economy
Capital concentrates as MENA startups close deals
- Fresh funding flows in even as broader market data points to a slowdown
RIYADH: Startup funding activity across the Middle East and North Africa delivered a mixed picture over the past week, with fresh capital flowing into gaming, fintech, deep tech, and travel, even as broader market data pointed to a slowdown in overall investment momentum.
Saudi Arabia’s Impact46 led a $1 million investment round in Hypemasters, an international game development studio focused on competitive strategy experiences for mobile. The round included participation from GEM Capital.
Hypemasters develops strategy titles designed for competitive depth and precise game mechanics and has attracted more than 7 million players globally.
The studio is currently advancing several new projects, including a title in soft launch, as it looks to expand its reach in markets with sustained demand for strategy games.
“Strategy is one of the most demanding categories in game development, and Hypemasters approaches it with uncommon discipline. Their work shows a clear understanding of what committed players expect from this genre, and we believe their upcoming titles can serve a global audience with genuine depth,” said Basmah Al-Sinaidi, managing partner at Impact46.
“We are pleased to support a team that builds with intention and long-term ambition,” she added.
Boris Kalmykov, CEO and co-founder of Hypemasters, said: “We’re focused on deepening our presence across the region and pushing forward with the next generation of strategy games, including a major new title already in soft launch. Partnering with Impact46 marks an important step for Hypemasters.”
The CEO added that Impact46 shares his company’s long-term vision for building “world-class strategy games” from the MENA region, and the support reinforces his firm’s commitment to expanding its portfolio with high-quality releases.
The investment reflects Impact46’s continued interest in game development and interactive entertainment and aligns with its broader strategy of backing studios building globally oriented titles.
Premialab raises $220m
UAE-headquartered Premialab, a provider of data, analytics, and risk management solutions for quantitative investing, has raised $220 million in a growth investment led by KKR, with participation from existing investor Balderton.
Founded in Hong Kong in 2016 by Adrien Geliot and Pierre Trecourt, Premialab operates a global platform serving the $800 billion quantitative investment strategies market.
Counterfeits don’t just impact economies; they erase identity, creativity and truth. Along with our investors, we’re building a movement to make the world’s stories verifiable again.
Walid Tarabih, founder and CEO of Relik
The company provides benchmarking, performance analysis, and risk analytics tools for institutional investors.
The funding will be used to support global expansion, strengthen core operational systems, and scale Premialab’s execution product, which was developed in partnership with Eurex, to broaden access to quantitative investment strategies.
“Quantitative investment strategies have grown rapidly in scale and importance, yet the market has lacked a truly independent standard for data, analytics and risk. Premialab was built to fill that gap,” said Adrien Geliot, CEO of Premialab.
Relik closes seed round
UAE-based Relik has closed a seed funding round with participation from KBW Ventures, Naatt Holding, Fort Holding, and Ayman Sejiny.
Founded in 2023 by Walid Tarabih and later joined by John Tsioris, Relik is an artificial intelligence-powered authentication platform designed to help collectors, brands, and marketplaces.
The company plans to use the funding to roll out additional products and expand across sectors including sports, luxury, and heritage markets.
“We are ensuring authenticity in a fakeable world,” said Walid Tarabih, founder and CEO of Relik, adding: “Counterfeits don’t just impact economies; they erase identity, creativity and truth. Along with our investors, we’re building a movement to make the world’s stories verifiable again.”
Prince Khaled bin Alwaleed bin Talal Al-Saud, founder and CEO of KBW Ventures, said: “Relik is creating a new global standard for truth and trust. At a time when counterfeiting and AI-generated content are rising, Relik’s mission to protect authenticity carries both cultural and commercial value.”
Nawah raises $23m
Egypt-based deep tech startup Nawah Scientific has raised $23 million in a series A round comprising a mix of equity and debt, marking a decade since the company’s founding.
The round was led by Life Ventures Holding, with participation from Den Ventures, Empire M, AfricInvest, Elsewedy, as well as banks and angel investors.
Founded in 2015 by Omar Saqr, Nawah operates a cloud laboratory model that enables remote access to advanced testing services. Its operations span four business units covering life sciences, food and agriculture, pharmaceuticals, and certified reference materials.
The company plans to use the funding to build a global research and development center in Rwanda, double laboratory capacity in Egypt and Saudi Arabia, and expand into North Africa and Europe.
Algeria’s VOLZ raises $5m
Algeria-based travel tech startup VOLZ has raised $5 million in a series A funding round led by a consortium of private investors under Tell Group, with participation from Groupe GIBA.
Founded in 2023 by Mohamed Abdelhadi and Hacene Seghier, VOLZ enables travelers to book flights in Algerian dinars using online payments or cash on delivery, while comparing multiple airlines through a single platform.
Announced at the African Startup Conference in December, the transaction is Algeria’s largest startup funding round in local currency and marks the first exit of the Algerian Startup Fund.
The capital will be used to launch new consumer and corporate travel products, strengthen VOLZ’s position in Algeria, and support expansion across North and West Africa.
MENA startup funding slows in November
Investment activity across the MENA startup ecosystem slowed sharply in November 2025, with 35 startups raising a combined $227.8 million, according to Wamda’s monthly report.
This marked a steep decline from the $784.9 million recorded in the previous month and a 12 percent drop compared to November 2024, pointing to a period of consolidation as investors moderated deployment toward the end of the year.
More than half of the capital raised during the month was driven by a single debt-backed transaction by erad, which propelled Saudi Arabia to the top of the regional rankings. Across 14 deals, the Kingdom attracted $176.3 million, accounting for more than three-quarters of all capital deployed in November.
Despite funding activity spanning 35 startups, capital was concentrated in just 5 markets. After Saudi Arabia’s dominant lead, the UAE followed with $49 million across 14 transactions.
Egypt recorded $1.12 million across 4 deals, while Morocco raised $1.1 million through 2 transactions. Oman saw 1 deal with an undisclosed value, with limited activity reported outside these markets.
Fintech emerged as the most funded sector in November, raising $142.9 million across 9 deals, largely influenced by the same debt-driven transaction.
E-commerce followed with $24.5 million across 6 rounds, while property tech, which topped the charts in October, slipped to 3rd with $18.9 million raised by 3 startups.
Debt financing dominated the month, accounting for more than $125 million through a single transaction.
The remaining capital was largely channelled into early-stage startups, with no later-stage funding rounds recorded in November, underscoring continued investor caution.
From a business model perspective, B2B startups captured the majority of capital, with 20 companies raising $197.1 million.
B2C startups lagged, with 9 companies raising a combined $22.2 million, while the remainder was split across hybrid models.
The gender funding gap showed no signs of narrowing, with male-led startups absorbing 97 percent of the capital raised during the month. Female-led and mixed-gender founding teams accounted for the remaining share.
