FirstFT: Xi leaves mainland to usher in Hong Kong’s ‘new era’

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On his first trip outside mainland China since before the Cubid plague-19, President Xi Jinping is set to mark 25th anniversary Of the return of the former colony to Chinese sovereignty by the swearing-in of Hong Kong leader John Li.

The security services of China and Hong Kong are on increased alert ahead of Xi’s two-day trip. In anticipation of the president’s arrival in a city that was shaken by pro-democracy demonstrations in 2019, no-fly zones were imposed on large areas and the Hong Kong People’s Liberation Army garrison boasted of its combat readiness.

“The high-level security deployment reflected Beijing’s growing concern about national security, as well as the safety of the country’s top-level leaders,” said Willie Lam, a political analyst at the Chinese University of Hong Kong.

Shay’s visit will probably be free of protests after democracy activists were warned by national security officials to stay at home. Many opposition figures are already in jail or in exile. Prior to the imposition of a strict national security law on Hong Kong in June 2020, the annual anniversary of delivery on July 1 was often marked by large pro-democracy demonstrations.

© Graphics of Chinese companies

Thank you for reading FirstFT Asia. Here’s the rest of today’s news – Emily

1. Investigation: China has lured adult job seekers to digital espionage Chinese University students tempted to work for a secret technology company to spy on Western targets and translate hacked documents as part of Beijing’s program Industrial-scale intelligence regimeFind a Financial Times investigation.

2. Chinese stocks are expected to have the largest monthly rise since 2020 Chinese stocks on the way to Biggest monthly profit In almost two years, when investors have gambled on the worst hit of an economic shock caused as a result of the closure and prolonged repression of the technology sector in the country.

  • More news in the markets: US stocks hit their worst low in the first half in more than 50 years. US stocks have Shed more than $ 9 billion Market value since the end of 2021, according to Bloomberg data.

3. Russian forces retreat from the snake island Russia Withdrew forces From the strategic position of the Black Sea on Snake Island in what the Ministry of Defense described as a “gesture of goodwill” to help rehabilitate Ukrainian grain shipments, but Kyiv claimed it was a humiliating retreat.

4. The regulator in Singapore criticizes the Three Arrows crypto fund Singapore’s Market Regulator scolded Three Arrows Capital for Submitting false informationGiving another blow to the crypto hedge fund that was liquidated because of its failed bets.

5. Ferdinand Marcus Jr. took office Ferdinand “Bongbong” Marcus Jr. promised to invest heavily in infrastructure, reducing the impact of climate change “Drop the last drop of sweat” For his countrymen upon taking office as the 17th President of the Philippines.

The day ahead

Unemployment rate in Japan Unemployment figures are expected in May Stay constant at 2.5 percent, According to a Reuters poll. (Reuters)

PMI data Data from the Caixin and S&P Global Manufacturing Purchasing Managers Index are expected to be released in China, France, Italy, the United Kingdom and the United States.

The ECB completes its bond purchase program The European Central Bank will do just that The end of some of his stimulants Introduced a decade ago, to help combat high inflation stubbornly.

Sign up Here Get The Climate Graphic Explained, our latest newsletter, offering insight and analysis on this week’s most current climate data. The first edition will be out this coming Sunday.

What else do we read and listen to him

We must stop being sleepwalking towards a country of surveillance The scope and Frequency of use of biometrics Explodes as the line between what is acceptable and what is unacceptable becomes blurred, writes John Thornhill. The most prominent concern about the use of such data is how it strengthens surveillance capabilities in irresponsible ways, especially in China.

Do carbon food labels change the way you buy? Buying eco-friendly food can be a challenge, as consumers demand “honest and transparent labeling of food.” find out How the favorite items in the supermarket work out In terms of carbon cost with our interactive scales.

© Climate graphics

It’s time to call for a truce in ‘War for Talent’ Business leaders like a bit of machismo that glorifies their work at the desktop, but “The War for Talent” makes me cringe, Writes Emma Jacobs. This stellar system persists in some way in most organizations, she says, adding that the fetishization of talents omits the work of their organization or team. For further coverage of trends in the workplace, Sign up To our weekly Working It newsletter.

How tea plantations check private capital Last year, Unilever reached a $ 5 billion deal to sell part of its tea business to private equity giant CVC Capital. But with its roots in colonialism, tea plantations around the world have faced many problems, including accusations of human rights violations. Of the week An episode of Behind the Money Presents an interview with one fact whose life has been changed forever by violence in her orchard.

Japan’s assembly season sheds light on corporate governance Ahead of Japan’s 2022 Annual General Meeting season, the chances of pyrotechnics seemed high. In the constant erosion of corporate complacency, a record number (by a certain margin) of companies (77) this year faced a record number of shareholder offers (292). but These three carried a broader resonanceWrites Leo Lewis.


Few sports are suited to cheating like tennis. From the side, it can be difficult to distinguish between a player who is going through a bad day and a player who intentionally loses. This corruption is at the heart The story of Nicholas Kicker.

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