The Chinese government on Tuesday announced it will be placing an anti-dumping tax on Brandy produced in the European Union that is imported into China.

China places a tax on European brandy imports in a move critics say is retaliation for recent tariffs on electric cars.

After four miserable years, stock market in Hong Kong and mainland China are finally soaring, but whether benefits from the economic stimulus measures announced in September spread beyond stock investors and into the real economy have yet to be seen.

Even with stimulus measures, China's growth will slow next year, weighing on its neighbors' growth prospects, the World Bank said.

China's economic growth rate is expected to decline further in 2025 despite a temporary boost from a raft of recent stimulus measures, the World Bank says.