China Inc by BBW

China’s GDP grew 4.5% in the first quarter, rebounding from 2.9% growth the previous quarter. And Hong Kong rolls out the welcome mat for tech startups with the launch of new rules allowing money-losing high-growth companies to list on the stock exchange’s main board.

China discloses the settlement of a major natural gas deal with France using its local currency, the yuan. And shenanigans involving lost pledged shares and a new class of stock to protect a founder’s stake in his company.

Alibaba announces a plan to split into six parts, and JD.com says it’ll spin off its commercial and real estate arms. And Saudi Arabian announces two new multibillion-dollar oil refining investments in China.

Price wars break out as car makers in China, from Volkswagen to BYD, scramble to clear inventory. And foreign names like Samsonite and L’Occitane join the China-Hong Kong stock connect program, but no one is buying.

Li Qiang vows his “unequivocal and steadfast” support for China’s private sector in some of his first remarks as premier, and China resumes issuing visas for foreign business travelers and tourists.

China builds a low Earth orbit satellite constellation to rival Elon Musk’s Star Link. And Evergrande faces a potential “Lehman moment” as it fails to negotiate new terms for its massive debt with key creditors ahead of a key court date.

China says it will target relatively modest GDP growth of “about 5%” this year, as it focuses on “quality growth” over “growth at any cost” in the post-pandemic era.

China’s luxury market shrank by 10% last year, marking its first contraction in at least five years. And less than three years after opening its first China store, fast food chain Popeyes is dumping its original partner in the market and signing on with the local operator of the fast-growing Tim Hortons donut chain.

China’s purchasing manager’s index fell 0.8% in January, but the consumer price index rose 2.1%. And JD.com is officially withdrawing from Southeast Asia by announcing it will close its shops in Indonesia and Thailand.

Chinese tourists return to the world en masse with the resumption of group tours from China on February 6. And eight U.S.- and Hong Kong-listed Chinese companies collectively raised more than $2 billion through new share and bond issues in January.