Welcome to Asia Week.
This week Iran will elect a new president and Mongolia will hold parliamentary elections with anti-corruption policies high on the agenda.
India finishes elections this month and begins a new parliamentary session, China’s top legislature meets in Beijing and the United States, Japan and South Korea are holding their first-ever meeting of industry ministers in Washington. Carmaker Geely Auto reports earnings on Friday.
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Monday
Indian Parliament reconvenes
India’s new parliamentary session began after the ruling Bharatiya Janata Party (BJP) won a third term in power in June’s general election but lost the majority it had held for 10 years.
Chinese developer takes to court
Chinese property developers Kaisa Group Holdings and Shimao are facing court proceedings in Hong Kong this week over their winding up petitions amid the country’s continuing property crisis. Kaisa’s hearing is scheduled for Monday, Shimao’s for Wednesday.
Tuesday
Davos in Dalian
The World Economic Forum’s “Summer Davos” conference kicks off in Dalian, China, bringing together around 1,500 business leaders and celebrities to discuss topics including the outlook for the global economy, AI and climate change.
China’s top legislative body meets
The Standing Committee of the National People’s Congress is holding a four-day session in Beijing. China’s top legislative body has 10 bills on its agenda, including a controversial one that seeks to ban actions and clothing that “hurt the feelings” of Chinese citizens. Amendments are expected.
Sony Shareholders Meeting
Sony Group held its annual shareholders meeting amid a flurry of interest in potential acquisition deals. In mid-June, Sony Pictures Entertainment acquired U.S. cinema chain Alamo Drafthouse, and media reports suggest the company is in talks to buy U.S. film and television giant Paramount.
China’s lunar probe
China’s lunar probe Chang’e-6 is set to return to Earth with the first samples collected from the far side of the moon. If all goes as planned, the completion of the mission will mark another leap forward for China’s accelerating space program, which is quickly catching up with that of the United States.
Wednesday
United States, Japan and South Korea hold first-ever industry ministers’ meeting
The United States, Japan and South Korea are reportedly planning to hold their first trilateral industrial ministers’ meeting in Washington to confirm cooperation in developing technologies to counter China and Russia. The meeting follows an agreement reached at the Camp David summit in August between the three leaders to hold regular industrial ministerial meetings.
Thursday
US Presidential Debates
US President Joe Biden and former President Donald Trump will face off in the first debate of the 2024 presidential election in Atlanta. The 90-minute debate will take place in an empty studio. The candidates’ microphones will be muted throughout the program, except when it is their turn to speak.
Monetary Policy: Türkiye, Philippines
Friday
Iran elects new president
Iran is holding a presidential election following the death of President Ebrahim Raisi in a helicopter crash. Hardline Parliament Speaker Mohammed Bagher Qalibaf is one of the front-runners to become the country’s next president.
Mongolians to vote
Mongolia held its first elections under a new parliamentary system that expanded the number of seats in the country from 76 to 126. Parliament Speaker Gombojav Zandanshatar recently told the Nikkei Forum that “important policy and legal reforms are underway to eradicate corruption, strengthen the rule of law and ensure transparency.”
Revenue: Geely Automobile Holdings
Saturday
Vietnam’s Economy
Vietnam is due to release gross domestic product data for the second quarter and first half of 2024. Imports and exports have increased and foreign investment in supply chain hubs has maintained momentum, but the currency and domestic consumption remain sluggish, slowing the post-COVID recovery.
Sunday
China Factory Activities
China released purchasing managers’ index data for June, providing an update on factory activity amid growing tensions in the West over what it sees as “overcapacity” in Chinese industry.
