hello and might recognise. hello and welcome to asia business report, i'm monica miller. over to china where business leaders are gathering for the world economic forum in tianjin for the first one in three years due to the pandemic. chinese premier li shangfu will open the in about an hour. the event comes at a crucial time for the country. beijing is looking to boost foreign investments as its own economic engine slows. earlier i spoke to maddy, the economist intelligence unit who explained what executives are finding after not being in china for nearly three years. i think one of the reasons that this meeting and one of the streams of executives and world leaders we have seen returning to china over the last few months since the very surprisingly abrupt exit since china's reopening are important is because there has been a perception gap that has only widened in the three years since china was closed and what

i mean by that is the perception of china from outside, even those who have businesses here and have teams here, for whom china is a very important market and then the writ lived reality on the ground. that is due anywhere in the world but i think one of the world but i think one of the confusions during the pandemic period particular contributed to the gap. what they will find is and they will visit their own teams and factory floors and get an idea on what the outlook is but the truth is zero covid and some of the other challenges have really stomped on consumer investor confidence and it has beenin investor confidence and it has been in —— unbalanced so far so it isjust not been in —— unbalanced so far so it is just not the recovery people were hoping for even if it is not as grim as the more sensational headlines suggest. we just want to ask you because regulations in china have tightened. this is not good for

a business environment, for anyone. a business environment, for an one. , ~' a business environment, for an one. , ~ ., ., anyone. yes, i think no matter what would — anyone. yes, i think no matter what would happen _ anyone. yes, i think no matter what would happen this - anyone. yes, i think no matter what would happen this year . what would happen this year was going to be a challenge and change for china as they pivoted out of covid and some of the global headwinds that are being experienced by all countries and economies and yet some of the issue i think for the business community is the rhetoric doesn't feel as though it matches up to reality so you have the previous economics, for example, at davos earlier this year, the original davos, so to speak, telling foreign investors and reassuring the community that china was back in business, it was a great time to come and invest and do business and on the heels of that you had several incidents related to foreign businesses all around what we presume to be national security issues and i think itjust points to the new reality of china's growth story. so the glory days of china's growth are behind it and what i mean by that is we are not going to —— back to 79 growth rates. that is inevitable and was also inevitable and was also inevitable as the country advances but that doesn't mean

the china's growth story is over but the growth now in china is tempered by concerns about national security and social fairness and it is that national security piece that poses a challenge to foreign investors and foreign business because it is difficult to wrap your mind around.— because it is difficult to wrap your mind around. speaking of china's economy, _ your mind around. speaking of china's economy, we - your mind around. speaking of china's economy, we saw - your mind around. speaking of| china's economy, we saw signs of a post pandemic rebound in the post— quarter of 2023 but since then, official data suggests the economy is facing challenges like weakening consumption. earlier i spoke to vanessa, from consultancy firm silk road research and he has spent time visiting various businesses across china and said his main takeaway was no need to panic. i said his main takeaway was no need to panic.— need to panic. i think it has to do a lot _ need to panic. i think it has to do a lot with _ need to panic. i think it has l to do a lot with expectations. as discussed, and reviewed, china did their pivot from zero covid in december. so you had that first reopening covid wave in december and january and then we went into chinese new

year and in february he was thusly —— the slow reopening so we are still very early into the recovery in china. we have only had march and april official data being released so thatis official data being released so that is two months of data. i think one of the things that our contacts tell us there is at the recovery has actually been pretty rose —— pretty robust on the consumer side. what you are seeing is a two speed economy and the sectors most directly impacted by covid are recovering quite strongly. we just got auto data for the month of may and it hit a new record after being down 20% in the first quarter relative to the first quarter relative to the prior peak so some of this just need some time. we need the recovery to play out and we are expecting the second half to be better than the second quarter. to be better than the second auarter. ~ ~ to be better than the second auarter. ~ . , , ., quarter. which industries are the most _ quarter. which industries are the most worried _ quarter. which industries are the most worried and - quarter. which industries are i the most worried and concerned at this stage? the the most worried and concerned at this stage?— at this stage? the weaknesses really concentrated _ at this stage? the weaknesses really concentrated in - at this stage? the weaknesses really concentrated in two - really concentrated in two sectors. . one is the property market. we have definitely seen a disappointing slowdown in the

momentum of property sales and then the second is infrastructure spending which tends to help lead the recovery in the early stages and has been very slow to get going and the reason for that is local government finances have just been stressed. the implementation of the zero covid infrastructure last year was very expensive. for a lot of local governments there is still —— they are still in repair mode so the lag effect of monetary policy and fiscal policy into the economy is slower this year than in prior. in other news this morning, us presidentjoe biden has unveiled a m2 billion plan to make high—speed internet universal by 2030 stop that announcement comes as mr biden gears up for his re—election bid, as my colleague samir hussein explains, it would be partly seen as a referendum for his handling of the economy. more than 8 million people in the united states to not have

access to high—speed intellectual malaise roughly 7% of the population of the us. so it is a big problem here and one that this administration would like to address. the money has already been appropriated which means there is no fighting congress to actually get the funding and each state will get a minimum of $107 million stop the amount will go up according to the percentage of the population thatis percentage of the population that is without broadband access. the lack of internet access. the lack of internet access really got a lot of attention during the pandemic when students were forced into online learning. an internet companies have been reluctant to bring broadband to rural communities because it is expensive given the low number of subscribers that they would be getting. now this push for more broadband access across the country comes as us presidentjoe biden fights the real action. presidentjoe biden fights the realaction. part presidentjoe biden fights the real action. part of this

re—election bid will really hinge on his administration's handling of the economy. a us judge has granted —— —— to —— jpmorgan for a judge of nine settlement who said that jeffrey epstein abused them. they also said that they turned a blind eye to the alleged sex trafficking because it was an important client. the first ever olympic esports week wrapped up in singapore recently and it was the first time the international olympic committee had hosted an in—person esports event as opposed to an all virtual setting. and the game's tournament had a different format as well. take a look.

ready, fight! format as well. take a look. ready. fight!— ready, fight! the steps feel . uite ready, fight! the steps feel quite comfortable. - ready, fight! the steps feel quite comfortable. we - ready, fight! the steps feel i quite comfortable. we wanted ready, fight! the steps feel - quite comfortable. we wanted to show that vr, the full body tracking vr can be a great spectator experience as well as competed experience. # if you want a party, you can just— # if you want a party, you can just dance! — # if you want a party, you can just dance!— just dance! when it first came out, that was _ just dance! when it first came out, that was in _ just dance! when it first came out, that was in 2010. - just dance! when it first came out, that was in 2010. that'sl out, that was in 2010. that's when i started. with the switch you have to hold it firmly and because they want to score more points so how i hold it and how i swing it, it made it a whole more, to me dancing zumba or

any kind of dance. injust dance in just dance the position of the swing and the energy, a place a whole lot of difference. our primary goal is to support the development of sports within the olympic movement but this is also why we are focused up first programme with virtual sports and simulated sports.

first is a long—term strategy thatis first is a long—term strategy that is engaged —— engraved with objectives and we really want to continue and to have the second edition may in 2a and pushing forward for 25—26. this is really the ambition. that is it for this edition of asia business report and you can always keep up with the latest cosmic day's news by visiting our website. thank you for watching. ina in a school in south—west london as a prize is about to take place starring will poulter who has just started take place starring will poulter who hasjust started in a marvel blockbuster guardians of the galaxy three. but he is here today because of his sister. ., ., , here today because of his sister. ., , ., ., ., sister. today is national teacher— sister. today is national teacher day. _ sister. today is national teacher day. i _ sister. today is national teacher day. i wanted . sister. today is national| teacher day. i wanted to

surprise my little sister and thank her. like many teachers she is an unsung hero and takes on a huge responsibility.- on a huge responsibility. thank a teacher day — on a huge responsibility. thank a teacher day started _ on a huge responsibility. thank a teacher day started in - on a huge responsibility. thank a teacher day started in 2014 i a teacher day started in 2014 to celebrate the commitment and professionalism found in so many schools. hi. professionalism found in so many schools. hi, everybody. how is it— many schools. hi, everybody. how is it going? _ many schools. hi, everybody. how is it going? it _ many schools. hi, everybody. how is it going? it is - many schools. hi, everybody. how is it going? it is national| how is it going? it is national thank a teacher day so wanted to say thank you to you and all your colleagues. she to say thank you to you and all your colleagues.— your colleagues. she is funny and she is — your colleagues. she is funny and she is cool. _ your colleagues. she is funny and she is cool. she - your colleagues. she is funny and she is cool. she is - your colleagues. she is funny and she is cool. she is a - your colleagues. she is funny | and she is cool. she is a great erson and she is cool. she is a great person and — and she is cool. she is a great person and always _ and she is cool. she is a great person and always kind - and she is cool. she is a great person and always kind to - person and always kind to everyone _ person and always kind to everyone-— person and always kind to everyone. person and always kind to eve one. ., ., , everyone. the whole team is incredible — everyone. the whole team is incredible and _ everyone. the whole team is incredible and it _ everyone. the whole team is incredible and it isn't - everyone. the whole team is incredible and it isn't very i incredible and it isn't very much a joint effort and i'm very to work with people... appreciation often goes unmentioned but in schools todayit unmentioned but in schools today it is hoped people's parents, families and friends will take the time to say thank you. for more stories from across

the uk head to the bbc news website. hello i'm here with the catch up. tonight drug testing at festivals, prince william is on tackling homelessness and a curious whale. uk festival seasonis curious whale. uk festival season is on and a big question each year is how to party safely. musicians and mps have written an open letter to the government calling to allow festivals to run drug testing were confiscated substances are checked for issues like impurities. there is a split about whether festivals should need a special license to do testing. the government says yes but the group behind the c drug testing is happened since 2014 without them. some other stories for you now. for the first time the bbc can reveal a major suspect into the murder of stephen lawrence who was killed in a racist attack by a

gang of young white men in south london in 1993 stop matthew white died two years ago at the age of 50. it is emerged that officers failed to follow up on mr white in the case despite witnesses are saying he admitted he was at the scene. and an inquest has heard that nicola bully who went missing at lancashire in january died as a result of drowning. it took more than three weeks to find her body after a major police search. and prince william is lodging a five year campaign to try and and homelessness stop the prince foundation pledged more than £3 million of funding to tackle the issue. and time now for ten seconds of a curious humpback whale, following a kayaker at sydney's bondi kaya ker at sydney's bondi beach. kayaker at sydney's bondi beach. i think that will be an amazing and terrifying thing at the same time. excuse the dead joke but you could say they were having a whale of a time. you are all caught up now, see

you later. hello and welcome to sportsday. hello and welcome to sportsday. i'm sarah mulkerrins. i'm sarah mulkerrins. it's advantage australia in the women's ashes series — they take four points after some brilliant bowling on the final day of the test.