Axios

In an effort to grow its brand and business in China, Airbnb has a new name in the country: "Aibiying," or "welcome each other with love."

In Shanghai, the company is also rolling out its Experiences service, which lets travelers book activities run by local hosts, starting with 10 such activities. Experiences, which Airbnb launched in November, are now available in 20 cities around the world.

Why it matters: Airbnb kicked off its efforts in China in 2015, despite it being a difficult market for Western companies. Last year, it registered its Chinese operations as an independent business unit that handles users' data locally, and to date, Chinese travelers have stayed at Airbnb listings 5.3 million times around the world. The company also has 80,000 listings in China and guests have stayed at them 1.6 million times, according to Airbnb. But there have been challenges: It has yet to hire a CEO to lead its Chinese business and has reportedly looked to acquire at least one company to help it better compete locally.

The biggest surprise to investors of late may not be the success of Brexit or the Trump campaign, but the Chinese government's saving of an economy that looked headed towards a hard landing just one year ago.

Since that time, markets have set aside worries over the China's stability, as we watched the economy find its feet by doubling down on a strategy of higher debt, mostly in the corporate, state-owned sector.

Source: Bank of International Settlements

The Wall Street Journal checks in on the health of these SOEs, pointing out that over the past year, they have binged on debt, with borrowing growth hitting 25% in 2016, compared with private debt growth of just 3%.

Why it matters: The amount of debt the Chinese economy needs to add to create to hit its growth targets rate has risen steadily in recent years, suggesting the strategy of funneling loans for state-owned enterprises to invest is unsustainable. Furthermore, the practice is likely crowding out more efficient investments by China's increasingly innovative private sector.

Secretary of State Rex Tillerson will skip what would be his first NATO meeting in Brussels next month to attend President Trump's get-together with Chinese President Xi Jinping at Mar-a-Lago and will head to Russia at the end of April, per Reuters, citing 4 current and former U.S. officials.

Why it matters: The news comes at the end of a day where the headlines were dominated by House testimony from FBI Director James Comey and NSA Director Admiral Mike Rogers about Russian interference in the presidential elections and ties to the Trump campaign. Trump has previously criticized NATO and called for its members to contribute more for their own defense.