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Over a million attend Hong Kong demo against controversial extradition law, organisers say -HKFP

“I know it’s difficult to change the mind of the Hong Kong government, but I hope that the protest today can arouse some international concern about it through the power of mass media”

From Berlin to Brisbane, rallies in 12 countries express solidarity with Hong Kong’s mass protest against extradition agreement -SCMP

·       Rallies held in 29 cities, including New York, San Francisco, Toronto and Vancouver, as well as Tokyo, Sydney and Taipei

·       Supporters also flood social media with messages of support

Violence breaks out as police try to clear Hong Kong protesters -The Straits Times

Hong Kong extradition plan threatens liberty, rule of law and business Government proposal to ease sending of suspects to mainland China undermine city's values -Nikkei Asian Review

GLOBAL BUSINESS

Where did corporate taxes go? Nations find digital gains elusive Multinational companies scour the globe for best saving options -Nikkei Asian Review

Hyatt Hotels lays out plan to double its Asia-Pacific presence -SCMP

·       New York-listed Hyatt says it plans to double its presence in China and surrounding areas over the next four years

·    Hotel group says its strategy involves tapping the growing appetite for domestic travel on the mainland, which reached 5.54 billion trips last year

China to roll out export controls on sensitive technology -FT(subscription)

China Summons Tech Giants to Warn Against Cooperating With Trump Ban The Chinese government this past week summoned major tech companies including Microsoft and Dell from the United States and Samsung of South Korea, to warn that they could face dire consequences if they cooperate with the Trump administration’s ban on sales of key American technology to Chinese companies, according to people familiar with the meetings. -NYT

China’s first Data Protection Measures lifting its veils On May 28, 2019, the Cyberspace Administration of China released the draft Measures on the Administration of Data Security for public consultation. -JD Supra

Western News Sites Blocked as Chill on Chinese Media Continues -China Digital Times

Huawei to be cut off from Facebook in latest blow -Taipei Times

Huawei’s fate unclear as India prepares 5G trials Telecom Minister Ravi Shankar Prasad said the auction of 5G spectrum will take place this year, but a decision on Huawei hasn’t been taken -Asia Times

New measures to regulate OTT service providers Despite the fact that Taiwan's broadband market is flooded with over-the-top (OTT) media services, the National Communications Commission (NCC) has yet to regulate OTT service providers. -ILO

However, on 1 May 2019 the government issued a presidential order to amend the Copyright Act and outlaw malicious online infringement.

U.S. preparing to sell over $2 billion in arms to Taiwan, testing China, say sources -The Japan Times

Samsung Heavy bags 450 bln-won order for 2 LNG carriers Samsung Heavy Industries Co., a major shipyard in South Korea, said Friday it has clinched a 450 billion-won (US$381 million) order to build two liquefied natural gas (LNG) carriers. -Yonhap

Under the deal with a Bermudan customer, Samsung Heavy said it will deliver the vessel by June 2022, the company said in a regulatory filing.

Law expert cautions govt over open skies plan President Joko “Jokowi” Widodo expressed his intention to invite foreign airlines to serve domestic routes after a lukewarm response from domestic airlines on government intervention in lowering airfares. Transportation Minister Budi Karya Sumadi said the ministry was studying the President’s idea -Jakarta Post

FDI in Vietnam – Where is the Investment Going? -VNBriefing

This inflow represents a year-on-year increase of 69.1 percent. Around 1,363 new projects were licensed with a total registered capital of US$6.46 billion in the January – May period, up 38.7 percent against the same period last year.

Out of 19 sectors receiving capital, manufacturing and processing came on top with US$10.5 billion, accounting for 72 percent of total FDI. This was followed by real estate at US$1.1 billion and then by retail and wholesale with US$742.7 million.

Sharp eyes computer production shift from China to Vietnam Japanese electronics giant Sharp plans to shift its computer production from China to Vietnam to avoid trade war tariffs. The company plans to temporarily move its personal computers production to Taiwan before switching manufacturing to a new plant in Vietnam, sources told Japanese news outlet -NHK

US agriculture firm eyes hi-tech expansion in Vietnam Vietnam is a potential market with a large labor force and suitable climate, especially in the Mekong Delta region, to grow rice and corn, Ford said. Last year, Vietnam and other Asian countries contributed over 10 percent of the company’s revenue, or $1.4 billion. -VNExpress

EU, US pressing towards Cambodia trade reprisals Coordinated withdrawal of Cambodia’s EU and US tariff-free trade privileges would devastate crucial garment exports and flatten the economy More likely, sources say, the delegations were looking into the potential of removing Cambodia from the US’ Generalized System of Preferences (GSP), a preferential trade scheme that grants tariff and quota-free status to exports from developing countries. -Asia Times

GLOBAL MACRO

Trade Impasse Has World’s Central Banks Priming Their Engines With finance officials unable to meaningfully reset the trade narrative, markets will have to wait another few weeks for the next chance for a breakthrough, when Presidents Trump and Xi Jinping are expected to meet at the G-20 leaders summit in Osaka. -Bloomberg

Marco Rubio’s bill to increase the scrutiny of US-listed companies may be a boon to Hong Kong’s stock exchange. Here’s why -SCMP

·       The so-called Equitable Act’s sponsors include Marco Rubio, a critic of China’s governance and human rights record

·       While the act – which proposes to delist companies that don’t open their audit books to American regulators – applies to all US-listed companies, the focus is on China

Chinese embargo threats ring hollow -Asia Times

Japan needs a sister city strategy -The Japan Times

S. Korea's chip exports to India up 50 pct through April Exports of chips to India surged by almost 50 percent in the first four months of the year, driven by strong demand for smartphones in one of the fast-growing markets around the globe, industry data showed Sunday. -Yonhap

Chinese goods navigate alternate trade routes to US shores Data shows increased flows via Vietnam and Mexico with origin disguised -Nikkei Asian Review

Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows The economy of the southeast Asian nation has been boosted by almost 8 per cent due to the shift in production resulting from the US-China trade war, according to analysis by Japanese investment bank Nomura. -Hellenic Shipping News

Vietnam Can’t Be the Next China The trade war has been good for Hanoi—but the boom has its limits.-Foreign Policy