We start with the escalating trade tensions between China and the United States. Beijing announced new punitive measures against 106 categories of American products. This is in response to Washington's proposal to hit Chinese imports with tariffs of up to 25-percent. China said it will spare no effort in protecting its interests. Jiang Shaoyi has our top story.

China is fighting back but only reluctantly.

ZHU GUANGYAO VICE FINANCE MINISTER "We don't want a trade war, it could only hurt the interests of both China and the United States, and the prospects of the world economy. At such a critical moment, it's our hope that China and the US will take a constructive approach, with wisdom and mutual respect to properly cope with the problems. And bring the China-US economic relationship back to a track of healthy and sound development."

The vice finance minister's words came right after China announced punitive countermeasures on Wednesday, imposing 25 percent additional tariffs on major US exports, such as soy beans, cars and aircraft.

The act is in response to Washington's planned tariffs on up to 50 billion US dollars worth of Chinese imports.

WANG SHOUWEN VICE COMMERCE MINISTER "The US action is harmful to China's interests and economic safety. It threatens the recovery and stability of the global economy. The issuing of countermeasures is forced, and measured."

The proposed US list was unveiled Tuesday, bashing China's so-called coercive technology transfer practices. And the top target? "Made in China 2025", an initiative opening up China's massive manufacturing sector to foreign investors.

"In response to China's policies that coerce American companies into transferring their technology and intellectual property to domestic Chinese enterprises."

"such as Made In China 2025"

Analysts say, as China becomes a technologically pre-eminent economy, it is giving US policymakers lots of pressure.

DAN IKENSON, DIRECTOR HERBERT A. STIEFEL CENTER FOR TRADE POLICY STUDIES "Thers's a certain concern that China is perhaps engaging in IP theft and forced technology transfer, to sort of, compensate an under-capacity to produce commercializable innovations at home. For the past decade or so, US businesses have been concerned about these issues."

Beijing said the date of implementation will depend on when Washington imposes the tariffs on Chinese products.

But just as Vice Finance Minister Zhu said, one thing for sure is that a trade war will never result in a win-win situation.

Jiang Shaoyi,  CGTN.