Xi to make June 8-9 North Korea trip, first in nearly 7 years
Why it matters: The visit signals Beijing is moving to pull Pyongyang closer as Kim deepens military ties with Moscow.
The New York Times, Bloomberg +4
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US moves toward tariffs up to 12.5% on 60 economies over forced labor
What's next: Public comments run through July 6, with hearings on July 7 as China and the EU push back on the plan.
The New York Times, Bloomberg +3
EU weighs 3-source rule to curb China supply dependence
What's next: EU leaders are set to discuss economic security on June 18-19 as the Commission reviews tougher trade defenses.
Bloomberg, The Straits Times
SpaceX bars China, Hong Kong investors from $75 billion IPO
Why it matters: The restriction reflects US export-control concerns around sensitive technology and narrows a major source of demand.
HSBC, AIA and Prudential sink on Hong Kong account curbs
Why it matters: tighter checks on mainland clients could slow a lucrative flow of cross-border banking and insurance sales in Hong Kong.
Bloomberg, The Business Times (Singapore)
Banks curb China travel as Beijing widens cross-border crackdown
What's new: UBS delayed a mainland wealth event, while Hong Kong regulators now require declarations that new investment funds came from outside China.
Hegseth urges Asian allies to spend more, warns on China
At the Shangri-La Dialogue in Singapore, Pete Hegseth pushed Asian partners to boost defense spending as he warned about China’s military rise.
BBC News (World), NPR +4
Japan rejects China’s ‘neo-militarism’ charge at Singapore forum
Japan’s defense minister said Tokyo remains open to dialogue with Beijing while rejecting China’s claim that Japan is reviving militarism.
BBC News (World), CNBC +1
China lets some banks pay above SOFR on corporate US dollar deposits
Why it matters: Higher yields could slow companies' yuan conversions and help cap the renminbi's 3% rise this year.