EDITORIAL

• Editorial: To Achieve SOE Reform, Government Must Step Back and Empower Companies

FINANCE

• With Eye on Fintech, Hong Kong Grants More Virtual Bank Licenses
• Q&A: S&P Global Boss Says Ratings Agency in No Hurry to Make a Profit in China
• China’s Credit Growth Slows After March Surge
• China Starts Trading of Defaulted Corporate Bonds
• China’s Mid-Decade M&A Spree Hurt 2018 Profits

ECONOMY

• Update: China’s Consumer Inflation Hits Six-Month High in April
• Hong Kong Homebuyers Warned Not to Get Carried Away By Surge in Sales
• Update: Falling Exports Whittle Down China’s Trade Surplus
• Local Governments Face Fresh Curbs on Investment
• Local Governments Cut Pension Contribution Rate to Lower Corporate Burden

BUSINESS & TECH

• Moutai Maker’s Shares Plunge on Direct-Sales Plan
• Another Day, Another Chinese Developer Gets Into Electric Vehicles
• Genome Sequencing Giant BGI's Fundraising Flops
• Oracle Cuts Hundreds of China Jobs in Restructuring
• Update: How Foxconn’s Terry Gou Built a Manufacturing Empire on the Mainland