This is People’s Daily Tonight, your news source from China.

_______

Chinese implements counter tariffs on US goods

China says it will implement countermeasures against US tariffs.

US tariffs on $34 billion worth of Chinese goods took effect on Friday.

China’s Ministry of Commerce says the US has ignited the largest trade war in history.

It calls the US move "textbook trade hegemony,” will harm the global production and value chain, and set back global recovery.

_______

China's central bank drains 110 bln yuan from market

China's central bank suspends open market operations.

This, as liquidity remained ample following the reserve requirement ratio cut for some commercial banks.

On Friday, 110 billion yuan of reverse repo contracts matured, leading to a net withdrawal of 110 billion yuan from the money market.

A reverse repo is a process by which the central bank bids and buys securities from commercial banks, with an agreement to sell them back in the future.

_______

Boats capsize in Thailand leaving dozens missing

Dozens of Chinese tourists are missing after three boats capsized off Phuket, Thailand.

Reports say 17 people have died.

76 of the 94 people rescued were Chinese tourists.

_______

Thai rescue diver dead after falling unconscious in cave

Thai authorities says a former navy SEAL diver died trying to rescue 12 boy footballers and their coach trapped in a cave.

They say he died from lack of oxygen.

A SEAL commander says the rescuer was sending oxygen cylinders inside the cave before he was found uncon-scious. He was then moved to a command center inside the cave, and was found dead early Friday.

Reports say the diver was a retired Navy Petty Officer 1st Class who volunteered to join the operation.

_______

Japan sarin attack cult leader executed

Japan executes the leader of the doomsday cult that carried out a deadly 1995 sarin attack on the Tokyo subway Six of his followers were executed as well.

Shoko Asahara has been on death row for more than a decade over the attack.

The hangings are the first executions in connection with the nerve agent attack.

That attack killed 13 people and injured thousands more.

_______

Djibouti launches China-built free trade zone

Djibouti President launches the first phase of the China-built Djibouti International Free Trade Zone.

The 240-hectare trade zone will comprise of several major projects.

The $370 million project consists of three functional blocks located close to all of Djibouti's major ports.

_______

Mexico's president-elect plans to invite Trump to inauguration

And Mexican President-elect Andres Manuel Lopez Obrador says he will invite US President Donald Trump to his inauguration in December.

Speaking to reporters at a press conference, Lopez Obrador underscored the importance of his country's relations with the United States.

He says the US and Mexico are neighbors, and that they care a lot about cooperation for development.

_______

And that’s People’s Daily Tonight.  Thanks for joining us.

(Produced by David Nye, Wang Yi and Qiao Wai)