More economic support; HK national security law this month?; More setbacks for Huawei; June 4

The People’s Bank of China has introduced new measures to channel financing to small businesses. The authorities are rolling out whatever it takes to ensure employment, the most important of the “6 ensures” and a cornerstone of political security. See Item 1.

The news gets worse for Huawei, as it looks like they will be shut out of Canada’s 5G buildout and Reuters has another blockbuster story tying the company to attempts to evade US sanctions on dealings with Iran. For all the public difficulties the US has reportedly had in convincing allies to keep Huawei out of their 5G networks, it is starting to look like those efforts are bearing fruit, possibly thanks as much to recent PRC behavior as to US cajoling? See Item 4.

Tomorrow is the 31th anniversary of the June 4 tragedy. There is schadenfreude in certain parts of the PRC over the current protests in the US, but playing them up too hard poses risks for the CCP, especially if they proceed peacefully and result in accountability and…