the g7 summit wraps up in hiroshima. the group said it would pare back exposure to the world's second biggest economy. plus, if you've ever wanted to own a watch belonging to the last emperor of china, here is your chance. welcome to asia business report. our top story, leaders from some of the worlds richest countries have wrapped up their annual meeting in the japanese city of hiroshima. the g7 also welcomed a surprise guest, ukrainian president volodymyr zelensky. amongst the issues discussed, china and the ongoing war in ukraine. nick marsh has more. the g7 is a political

organisation but this years summit was dominated by economics that it was at the very heart of any news that the leaders discussed this weekend, ukraine and china. i will start with ukraine. before the summit even kicked off on friday the us introduced a raft of measures targeting russia, 300 sanctions aimed at restricting moscow's ability to source battlefield materials. the uk then followed suit, having introduced an import ban on russian diamonds, copper, aluminium, nickel and then the g7 leaders jointly agreed on a statement that said they would continue to impose sanctions, tighten them, and specify the need to crack down on sanctions and evasions, the use of third—party countries as a loophole for russia to get around these restrictions. they also acknowledge the fact, separately to the joint statement that there would be a need to utilise the so—called outreach countries in the global south countries like india for example, because the sanctions put

in place have hurt russia, but the war machine carries on. india for example has ramped up the acquisition of russian oil than the g7 countries in the western countries alone cannot hurt russia financially enough and speaking about it and then getting them on board and a practical sense, ones that have not even condemned the invasion of russia will be the big challenge. when it comes to china, the leaders issued a joint statement on chinese economic coercion, the notion that china utilises its vast economic power, weaponised is it in order to get smaller countries to fall in line. the difference between outlining the concern and doing something about it is the tricky bit for these countries and the us wants to go in hard heavy on investment and in china all kinds of export bans but the reality for most countries is you cannot break

off ties with the world's second largest economy. china is the eu's biggest trading partner so a new word started popping up this weekend, the concept of de—risking and moving supply change away from china and moving your dependency on the economy away. a compromise slightly but beijing's new this was a smear and that the original economic coercion was coming from the us. china has banned its key operators of its infrastructure from using products by us memory chip maker micron after it accused the manufacture of failing its network security

review. the decision came after chinese authorities launched a review into micron products in march after washington and beijing clashed over chip technology. exports for the first 20 days of may _ exports for the first 20 days of may in _ exports for the first 20 days of may in south korea fell over 16% from — of may in south korea fell over 16% from a year earlier. this is south _ 16% from a year earlier. this is south korea's longest losing export— is south korea's longest losing export streak in three years partly— export streak in three years partly because before in demand for semiconductor chips. fresh from the g7, us presidentjoe biden will meet with republican house speaker kevin mccarthy late on monday for another round of talks on the us debt ceiling. there are less than two weeks before the us might be hit with the default. early on sunday the treasury secretary said that june the first remains a hard deadline. if the debt ceiling is hit, washington could run out of federal funds to pay its bills. the indian central bank announced it would be withdrawing the highest value notes in circulation even though it will remain legal tender. let's bring in our correspondence has been monitoring the situation. why are they doing this?—

are they doing this? these notes were _ are they doing this? these notes were brought - are they doing this? these notes were brought in - notes were brought in temporarily by the reserve but 2016, about 86% of the indian currency was de—monetised overnight and these high denomination notes were essentially brought in to replenish the money that was gone, but now in the system there is enough of the lower denomination notes and that's why the reserve bank has gone ahead and decided to withdraw these notes. of course, that is these notes. of course, that is the official line and some experts believe this could be a way to remove black money from the system ahead of the election when there is a lot of cash sloshing around in the market. people have been given about four months to either deposit or exchange these 2000 rupee notes which they have at the bank. in terms of the impact on the economy, some experts say particularly cash sense —— intensive sectors or

small and medium—sized businesses there will not be that much of an impact on the economy although it will become clear in the days ahead.- clear in the days ahead. thank ou for clear in the days ahead. thank you for the _ clear in the days ahead. thank you for the update. _ elsewhere in asia will get fresh inflation data from parts of asia including singapore and japan. many central banks in the region have raised interest rates to deter inflation, marine moves by the us fed. daniel murray of efg asset management gave us his expectations earlier. i don't think there will be major changes in the japanese inflation data. the big challenge injapan is the fact that core inflation

has been trending higher and that is something i am sure that policymakers will keep a close eye on. in singapore it has followed a similar path to that which we have seen in the us and europe, namely the headline inflation has rolled over and we expect that to continue, but that core inflation has been more stubborn so it's not increasing like injapan, but it seems to have been stubbornly persistent at this level and is not really declining at all. a lot of regional banks have raised interest rates but the bank of japan hasn't. what kind of changes, if any, are you expecting? the bank ofjapan is an outlier internationally, notjust in the asian region. it's the only major central bank that continues to expand its balance sheet. it was thought perhaps the change of governor recently would bring about a change of policy, but what the new governor has done instead is announced they will review policy and they expect that to take between 12 and 18 months and until we have concluded the review then

there probably won't be a major shift in terms of policy although we might see a little bit of tightening if inflation is as persistent as we have seen. a timepiece which once belonged to the last emperor of china is set to be auctioned off in hong kong tomorrow. the watch was recently on exhibition in singapore and we got a sneak peek at this piece of history which may be worth millions of dollars. the story of the last emperor is romantic, fascinating, long, complex, sad. we know for a fact that

the watch was in puyi's hand and we know for a fact that the watch was gifted to purnikov. reference 96 0l was the most complicated wristwatch available in the catalogues in the 1930s. today, only three examples are known of the 96 0l, cased in platinum with the so—called roulette dial. because puyi's nephew has clearly mentioned the moment when puyi gifted the wristwatch, and purnikov will testify to the friendship he has established with puyi, showed to a journalist the fan, the watch and the notebook.

so the journalist took a photo where we can clearly see that especially the watch is in exactly the same condition as we are now exhibiting and that explains and shows that the watch was given to his friend and remains in his estate until 2001. it was extremely difficult to attributed value or an estimate to such an important wristwatch itself. we believe with such great provenance, period provenance, we can attract potentially interest from museums or from collectors of period artefacts that belong to chinese emperors. apparently it is expected to fetch $3 million.

that's it. thanks for watching. it may seem strange that the london violence reduction unit would come to a primary school like this one in croydon but the idea is children who need support should be given out from the earliest possible point and this school already benefits from funding for schemes that teach about healthy relationships and teamwork, but £4 million will be made available from next september to primary school specifically for speech and language skills.— specifically for speech and lanauuae skills. ~ ., ~ ., language skills. what we know, sadl , language skills. what we know, sadly. one _ language skills. what we know, sadly. one in — language skills. what we know, sadly, one in two _ language skills. what we know, sadly, one in two prisoners - sadly, one in two prisoners have — sadly, one in two prisoners have been excluded from school and will — have been excluded from school and will be further know is if you — and will be further know is if you have _ and will be further know is if you have special educational

needs— you have special educational needs you are four times as likely— needs you are four times as likely to _ needs you are four times as likely to get excluded and we really — likely to get excluded and we really need to be investing in programmes that give additional support— programmes that give additional support to young people who need — support to young people who need it— support to young people who need it but also give space for teachers — need it but also give space for teachers and in that way we hope — teachers and in that way we hope to _ teachers and in that way we hope to invest in inclusion but also _ hope to invest in inclusion but also make _ hope to invest in inclusion but also make sure we reduce exclusions. mccreery the funding _ exclusions. mccreery the funding is going to school in seven— funding is going to school in seven boroughs with higher levels — seven boroughs with higher levels of children being absent from _ levels of children being absent from school or suspended with higher— from school or suspended with higher levels of domestic violence like you're in croydon and the — violence like you're in croydon and the hope is that the earlier— and the hope is that the earlier than sport comes, the better— earlier than sport comes, the better chance of setting the children on a positive path.

my name is shirley robinson.

i am 90 and i have just done a skydive. my children offered to give me an event for my birthday, so i settled for a skydive. i just thought that the silence up there would be wonderful and it would be lovely to just float among the clouds. which it was. i was diagnosed with leukaemia i suppose about eight months ago, and it is chronic, so i shall have it till i die. and although it will never get better, they've told me, ijust go plodding along. i've done this skydive to raise money for crisis because imagine what it is like sleeping rough on cold nights, and i don't think any child should go to bed without its own home over its head. i didn't go out with the idea

of raising a vast amount, but i have raised over 5000 and it's wonderful how generous people have been. it's lovely. hello, i'm karthi gnanasegaram from the bbc sport centre. coming up on the programme celebrations at the etihad stadium as manchester city are crowned champions of england again. 0n the brink. leeds united's premier league future is looking bleak after defeat to west ham. daniil medvedev claimed the first clay court title of his career as he won the italian 0pen. hi there. welcome to the programme. manchester city celebrated a third successive premier league title in a row with victory over chelsea in a party atmosphere at etihad stadium on sunday. city were confirmed

as champions on saturday without even kicking a ball after nottingham forest's