nearly half of the world's polysilicon is produced in the shenzhen province, but allegations of human rights abuses have seen governments and businesses alike trying to cut ties. >> a sharp rebuke by the biden administration against china. the u.s. has banned import and restricted export to five chinese companies over alleged boards labor -- forced labor in shenzhen. that's where the chinese government has been accused of committing genocide against muslim uighurs and other minorities. the u.s. department of labor has also added a material used to build solar panels to its list of goods produced by child or forced labor. >> these actions emphasize our commitment to ensuring beijing plays by the rules of fair trade as part of the rules-based international order. >> meanwhile, china has criticized the been -- the van -- the ban. >> [speaking foreign language] the devices are currently in huge demand as the world seeks to transition to clean renewables in the fight against climate change. biden himself is hoping solar panels will replace fossil fuels and allow the u.s. to eliminate carbo

let's go to beijing with steven jiang standing by. >> this latest cluster in shenzhen, it's a new variant in guangdong a month ago. the new daily cases relatively low, single digit or low double digits but given this is in china, many officials, especially at the local level, adopt this zero tolerance policy. that's why you've seen them take a familiar page from their playbook you the, mass testing, extensive tracing and lockdown, in the case of shenzhen, because one of the two patients was a restaurant worker at the airport. that's why you've not only seen hundreds of flight cancellations and new rules regarding departing passengers presenting a negative test result and local travel. all of this comes as officials say the latest wave of cases in guangdong are of the delta variant. that's why they've been alarmed, how fast the variant has been traveling, spreading around the world. they're vowing to not let their guard down in terms of detecting cases from international arriving passengers. they achieved this milestone of administering 1 billion doses of vaccines within its borders. now,

china has cracked down on changing and hong kong -- shenzhen and hong kong.hat is a risk for time if it becomes isolated. the questions with china continue. xi jinping is expected to get a third term as party secretary and then the key question is who follows him? >> that was tom mackenzie on some of the challenges ahead for china. the delta variant continues to spread, we have noticed, this is bloomberg. ♪ >> here is a quick check of the latest business flash headlines. didi global is pricing shares in its u.s. ipo at $14, at the top of the marketing range. it is likely to increase the size from the initial 288 million. that price would allow the ipo to raise about $44 billion. exploring fundraising options after backing away from a listing in shanghai. the ceo told bloomberg that they got capital on their own. >> we have no options. >> hong kong based insurance giant aiia has but a steak for $1.9 billion. this is subject to readily tort approval and it also marks the second year of aia boosting its investment in china post life. nissan worldwide sales gaine

passengers departing shenzhen by air to show proof of a negative test result within 48 hours -- that 48 hours. backed by the pboc seeing baseless restrictions on-- and artificially create fluctuations. the financial news and weekend editorial warned against unnecessary worry over liquidity. the pboc it says it's loan rates for one year and five your were unchanged. christine lagarde says the ecb governing council is making progress in talks on the biggest overhaul of the institution's monetary policy into decades. the governing council met in person this weekend for the first time since the outbreak of the pandemic and talks in germany aim to retool the central bank inflation goals and improve data analysis head of the annual form in september. global news 24 hours a day on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. rishaad: looking at the nikkei 225 it is extended its drop to 4% and this is the most since april, 2020. we also have widespread selloff with 223 stocks on the way do

to be able to respond to the issues we seek targeting chinese officials for their policies around shenzhennd hong kong. we are still awaiting exact details, but what we know from what we've seen so far is this biden administration is pursuing, if they can keep these tracks separate. we spoke to a china expert, a former official in the administration who says she thinks the motivation for both sides to keep those separate tracks are here. we will be looking for if talks on the trade front and investment front actually materialize any concrete changes, if it is around tariffs for opening up the market. that is what is being looked at by investors as well as if they can keep them on a separate track. haslinda: thank you for that. still to come, risks in the system. warning signs popping up all over china's credit market. this is bloomberg. ♪ haslinda: here's the latest business flash headlines. an independent investigation ruled that toshiba attempted to influence a key shareholder vote . the report also claims the then ceo met with the chief cabinet secretary at the time. he has rejected the

our market coverage continues with the start of trading in hong kong, shanghai and shenzhen. markets, china open. that's next. this is bloomberg. ♪ >> it's not :00 a.m. in beijing in shanghai. welcome to "bloomberg markets: china open." i'm tom mackenzie. david: today were looking at oil trading, opec-plus nations signaling they are upbeat.

let's get to the tech center of shenzhen.loyee was found to be infected with the delta variant of the coronavirus. it comes amid international pressure on china to allow a real investigation to find the arjun of the pathogen -- the origin of the pathogen. >> it is that diplomatic work, rallying the nations of the world, imposing diplomatic pressure on china, that is a core part of the effort we are undertaking to over -- to ultimately face china with a stark choice, either they will allow in a responsible way investigators into do the real work of figuring out where this came from, or they will face isolation and the international community. >> we heard constantly from major world powers, whether it be australia, the u.s. we heard in the g7 that this investigation needs to happen. >> yes, that's right, heidi. there has been some divergence between the u.s. and some of its allies specifically on the lab theory. china has pushed back against that. obviously underlying that hypothesis is the allegation that china would've covere

heading to lunch on shanghai and shenzhen. that is a look at the scene and shanghai.. ♪ haslinda: we are looking ahead to stories investors are watching in india. mumbai and delhi easing coronavirus lockdowns and and rbis survey shows consumer confidence at a record low as the cobit outbreak takes a toll. union bank of india, india assurance and mr s posting results today. rishaad: taking a look at prospects and having a look at the singapore nfte contract and futures moving to the upside now with 15 minutes to go before the session kicks off. price discovery we should get in a minute or two with regard to the benchmark. looking here at the reserve bank of india is likely to do next in terms of an expansion of quantitative easing. perhaps the agricultural side of things as well. we have the monsoon rains now, train 44% above normal as of june 6, a late monsoon as well so it must be buckets there. having a look at how the former fed chair, the cat amongst pigeons in the first word news. >> the u.s. treasury secretary says president biden should push ahead with the $4 t

market coverage continues as we look ahead to the start of trade in shanghai and shenzhen.♪ (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. ♪ tom: it is 9:00 a.m. in beijing and shanghai. avon: our top stories, investors defy price pressure. tom: the u.s. senate passes a sweeping bill to compete with china. the legislation

the west coast of the united states, austin, texas, cambridge, shenzhen, amsterdam, tel aviv, bangalorerowth in this global economy. those are the most interesting places to invest. >> do people come up to you at cocktail parties, when people used to get together, and ask you for investment advice? and you always say invest with my firm? >> it's funny, they often ask me residential home prices, which is not my area of expertise. what i tend to tell people is focus on the longer-term. focus on -- i think the danger of the world we live in his snap chat, tiktok, meme stocks. it is dangerous. you want to say, is this fundamentally a good business? is it in a good sector? is this a good piece of real estate where supply is limited and demand is favorable? if you own something good, hold it for a long period of time. find those right neighborhoods to invest in, deploy your capital, then be patient. anna: got was blackstone president and coo jon great speaking with david rubenstein for a new series, "bloomberg wealth." you will be able to see more of that on july 6. christine lagarde says it

that is it for daybreak asia, market coverage continues, we are looking at the, shanghai and shenzhenbloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. ♪ david: this is my kitchen table and also my filing system. over much of the past three decades, i have been an investor. the highest calling of mankind, i've often thought, was private equity. [laughter] and then i started interviewing. i watched your interviews, so i know how to do some interviewing. [laughter] i learned from doing interviews how leaders make it to the top. >> i asked him how much he wanted. he said 250. i said, fine.

our coverage continues as we look ahead to the start of trading in hong kong, shanghai and shenzhen.s: the china open." this is bloomberg. ♪ look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. (announcer) if you've struggled to lose weight, you might think you were born with a slow metabolism, but what you may have is insulin resistance. fat becomes trapped inside your body and it becomes very difficult to lose weight. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat, all while controlling stress and emotional eating. at last, a diet pill that actually works. g

our markets coverage continues as we look to the start of trade in hong kong, shanghai and shenzhen.. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >> it is 9:00 a.m. in beijing and shanghai. i am tom mackenzie. david: counting down to the open of trade. vaccine optimism is the narrative. equities on the up on hopes that most shots can counter the infectious strain of the coronavirus.

haidi: our markets coverage continues ahead to the start of trading in hong kong, shanghai, and shenzhen is due as well. the china open is next. this is bloomberg. [♪ >> it is not :00 a.m. in beijing and shanghai, welcome to bloomberg markets china open, i am tom mackenzie. david: i am david ingress. -- david ingles. beijing lashes out at the u.s., calling it very ill for the g7. the chinese air force sends its biggest fleet of fighter jets to taiwan. >>

they're opening a brand-new technology center in shenzhen as a sign of the commitment they say consumer was no mention of the humanitarian crisis, to your point. i will say what got nike and h&m and adidas in hot water is the companies have spoken out against any humanitarian issues in that region but have since been quiet as there's been this huge backlash on social media driven by the state official media so, to answer your question, it's a risk. don't expect nike to get much more vocal on this because it's a really sensitive topic in china. they know this market really well and they know how to deal with the chinese government and so i don't think you'll hear much more on the political story of that unless somehow they're forced to from consumers because i think, you know, donahoe said it best, we're a brand for china, in china, by china, and that was a really clear statement to how they're approaching this issue no question, david, it's hurting, but the growth rate in china's revenue last month was 40%. it's about 17% this time it's making an impact but they say it's gotten better,