China policy and markets round-up: Biden talks tough on China, April PMIs miss forecast, Beijing tightens grip on fintech sector,

In this round-up, US president Joe Biden identifies China as a key competitor, both the official manufacturing and services Purchasing Managers’ Index (PMIs) come weaker-than-expected this month, and regulators ask 13 financial technology companies including Tencent Holdings and ByteDance to examine their businesses and fix the problems.