China

House passes bill expressing support for Hong Kong protestors, rebuking China

Protests
Pro-democracy protesters gather for a rally in Victoria Park, Hong Kong. Photo: Isaac Lawrence/AFP/Getty Images.

The House voted 417-1 on Wednesday evening in favor of the Senate's unanimously-passed Hong Kong Human Rights and Democracy Act, sending the bill to President Trump's desk. Rep. Thomas Massie (R-Ky.) was the sole "no" vote.

The big picture: The bill reaffirms the U.S.' commitment to supporting democracy and human rights in Hong Kong as it relates to city's autonomy. The legislation comes amid months of violent clashes between police and protestors in Hong Kong, and could set up a confrontation between the U.S. and China in the midst of Trump's high-stakes trade war. The White House has not yet commented on whether Trump intends to sign the bill.

Alibaba Group raises $11.2 billion in Hong Kong listing

Illustration
Illustration: Aïda Amer/Axios

Alibaba Group raised around $11.2 billion via a secondary share sale in Hong Kong.

Why it matters: It's the largest Hong Kong listing in nearly a decade and returns Alibaba to the exchange where it first listed in 2007 (later it went private and then IPO'd in New York).