ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Your Week in Asia

China-Central Asia summit, Grab results, G-7 summit in Hiroshima

Your weekly lineup of Asia's biggest business and political events

G-7 leaders will gather in Hiroshima for a three-day summit starting May 19.   © Reuters

Welcome to Your Week in Asia.

Japan will host the Group of Seven summit from Friday to Sunday in the western city of Hiroshima, the site of the first atomic bombing during World War II and Prime Minister Fumio Kishida's home city.

Before the summit, Canadian Prime Minister Justin Trudeau will pay an official visit to South Korea. While in Asia, he is expected to promote his country's new Indo-Pacific strategy, which is more assertive on China. This comes after the two countries became embroiled in a diplomatic row last week by expelling each other's diplomats.

On the corporate front, Japan's three megabanks will report earnings on Monday, followed by some of the region's major e-commerce companies, including Grab, Sea and Alibaba, later in the week.

Get the best of our coverage of Asia and much more by following us on Twitter @NikkeiAsia.


IMF officials hold news conference in Sri Lanka

IMF officials visiting Sri Lanka from May 11 to 23 are due to brief the media on the country's progress in turning its economy around after its debt default last year. The fund approved a bailout worth about $3 billion for the troubled Indian Ocean nation in March, and the delegation is conducting a checkup ahead of the first review of the loan program in September.

China sends special envoy to Ukraine

China's special envoy for Eurasian Affairs Li Hui starts a trip to Ukraine, Poland, France, Germany and Russia. Beijing said on May 12 the visits are to "communicate with all parties on the political settlement of the Ukrainian crisis." Li was China's ambassador to Russia for a decade till 2019. Such a trip was first mentioned during Chinese President Xi Jinping's phone call with Ukrainian President Volodymyr Zelenskyy last month.

GDP: Thailand

Earnings: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group


Trudeau visits South Korea

Canadian Prime Minister Trudeau will visit South Korea and hold a summit with President Yoon Suk Yeol. The two leaders are expected to discuss cooperation on trade and secure supply chains.

Trudeau will remain in East Asia to attend the G-7 summit and will be promoting his country's new Indo-Pacific strategy, which involves investments meant to compete against China for influence in the region.

Liz Truss in Taipei

Former U.K. Prime Minister Liz Truss embarks on a tour to Taiwan, becoming the first former U.K. leader to officially visit Taiwan in decades. Her trip will involve meetings with top officials of the Taiwanese government. The U.K. and Taiwan do not have formal diplomatic recognition with each other but have deepened political and defense ties in the face of Chinese aggression.

China economic data

China will release data on industrial production, investment and retail sales for April. The country is experiencing a slow economic recovery despite last year's low base, mainly due to the global slowdown and ongoing geopolitical tensions.

Earnings: Sea, Baidu


GDP: Japan

Earnings: Tencent


China-Central Asia summit, Xi'an

Chinese President Xi Jinping will host a summit with his counterparts from five Central Asian countries in China's ancient capital of Xi'an, known for its terra-cotta army and the Silk Road ancient trade route. The inaugural meeting is aimed at boosting economic and security ties. The two-day summit signals an attempt by the economies of the former Soviet Union to warm up to Beijing as Russia remains preoccupied with the war in Ukraine.

Sony Group management policy briefing

Sony Group will announce its management policy for the year through March 2024, with President and CFO Hiroki Totoki and CEO Kenichiro Yoshida both attending. The company's long-term goal is to create touch points with 1 billion people through its products and services, with the metaverse and mobility as major pillars. Progress on medium- to long-term strategies such as acquisitions of entertainment companies, the growing popularity of the PlayStation 5 and its original electric car the Afeela, announced in January, will reaffirm this year's milestones.

Grab Q1 results

Singapore-based super app Grab will release its earnings for the January-to-March quarter. The focus will be on how much demand for its ride-hailing business has recovered due to Chinese travelers visiting the region following the end of Beijing's strict zero-COVID policy in December. The Nasdaq-listed company expects to break even on a group level in the final quarter of 2023.

Earnings: Alibaba


Group of Seven Hiroshima summit

The G-7 leaders will gather in Hiroshima for a three-day summit from Friday. In light of Russia's invasion of Ukraine, the G-7 members will confirm their policy of maintaining and strengthening the international order based on the rule of law. The summit will unite in opposition to attempts by China and Russia to unilaterally change the status quo by force.

In addition to G-7 countries, leaders from South Korea and India are also invited. Although U.S. President Joe Biden once indicated he may only attend online due to discussions with Congress over the debt limit, the White House said on May 12 that he will travel to Hiroshima. A trilateral summit among Japan, the U.S. and South Korea is scheduled to strengthen deterrence against North Korea and will also likely attract attention.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more