Tokyo picks next governor, Shanghai AI conference, BYD opens Thai factory
Welcome to Your Week in Asia.
Tokyo goes to the polls to pick a new governor for the world's biggest city, while Japan's central bank releases its closely watched Tankan survey, offering a snapshot of the country's business confidence.
This year's summit of the China-led Shanghai Cooperation Organization kicks off in Kazakhstan, Indonesia hosts a green economy conference and EV maker BYD is set to open a new factory in Thailand. Samsung reports quarterly earnings on Friday.
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This is an adapted version of Nikkei Asia’s Your Week in Asia newsletter - a briefing of the most important business, economic and political events happening across Asia this week. Register to our full selection of newsletters.
MONDAY
Bank of Japan's Tankan survey
The Bank of Japan's quarterly Tankan business sentiment survey is likely to be impacted by upbeat semiconductor demand but also the fallout from safety testing scandals at Toyota, Mazda and several other automakers. Confidence among large manufacturers is expected to show a slight improvement, according to a QUICK economist poll.
Hong Kong's return to China anniversary
Hong Kong marks 27 years since the former British colony was returned to Chinese rule. Gone are the days when residents would take to the streets on the occasion to call for protecting freedoms, as the city is now under strict national security legislation imposed by both Beijing and the local government. Meanwhile, on the mainland, Monday is the first anniversary of an updated counterespionage law that expanded the definition of spying and gave authorities sweeping new powers.
TUESDAY
Thai Senate elections
Election authorities will announce the names of 200 new senators who passed a final round of scrutiny, after an obscure process in which 20 professional groups nominated and voted for their peers without input from the general public. While the new Senate will not have a say in future votes for prime minister it will maintain oversight of the executive branch and a role in appointing members of independent organizations such as the election and anti-corruption commissions.
WEDNESDAY
Shanghai Cooperation Organization summit
Kazakhstan hosts this year's summit of the Shanghai Cooperation Organization -- a China-led grouping considered part of Beijing's effort to promote an alternative world order. But there is no shortage of friction between the nine full members, which include India and Pakistan, Iran, Russia and several Central Asian states.
Hyundai and LG inaugurate EV battery plant
Hyundai Motor Group and LG Energy Solution are set to inaugurate their first electric vehicle battery cell plant in Indonesia. The $1.1 billion facility near Hyundai's EV assembly plant in West Java province will have capacity to produce batteries enough to power over 150,000 electric cars annually.
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Indonesia hosts Green Economy Expo
Indonesia's Ministry of National Development Planning hosts the Green Economy Expo in Jakarta from Wednesday to Friday. The CEO of energy giant Pertamina and the head of fertilizer maker Pupuk Indonesia are among those expected to attend.
THURSDAY
Shanghai AI conference
Shanghai aims to cement itself as a center of AI innovation as it holds the World Artificial Intelligence Conference, as competition with the U.S. accelerates in the nascent sector. The state-backed four-day event will showcase the latest technology under the theme "Governing AI for Good and for All."
EU tariffs on China EVs
The European Union's provisional tariffs on China's electric vehicles are due to take effect, barring an 11th-hour deal between the two sides. Europe in mid-June said it would slap additional duties of up to 38% on imported cars deemed to have been unfairly subsidized by the Chinese state. But the move has stirred concerns over potential retaliation, with major auto exporter Germany pushing for a compromise .
BYD opens Thailand plant
BYD opens a long-awaited factory in Thailand where it plans to produce 150,000 units annually. Establishing production hubs in the rising Southeast Asian market will be key for Chinese EV makers as they face the prospect of stiff EU tariffs.
FRIDAY
Earnings: Samsung Electronics
SUNDAY:
Tokyo picks next leader
Tokyo votes to elect its next governor, bringing an end to a two-week race between incumbent Yuriko Koike, backed by Japan's ruling Liberal Democratic Party, and her main challenger, Renho Saito, endorsed by the opposition. Over 11.5 million Tokyoites are registered to vote, and a record 56 candidates are on the ballot. The winner will hold the job for four years and oversee Japan's largest municipal budget.
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