Shrinking internet companies and skittish Europeans

Here’s what else you need to know about China today:

Top story: Honduras has officially cut ties with Taiwan, a move which many say is motivated by the country’s growing debt problems. The decision comes right as Taiwan’s current president Tsai Ing-wen (蔡英文 Cài Yīngwén) travels to the U.S. and Central America.

Under the government’s stern gaze, China’s internet giants are shrinking: China’s number two ecommerce firm, JD.com, is going to spin off its property and industrial units and list them on the Hong Kong Stock Exchange. The news comes after Tuesday’s announcement that the country’s biggest ecommerce company, Alibaba, would split into six separate units.

The European Union’s chief wants to “de-risk” ties with China, pointing to “more distant and more difficult” relations with the country over the past few years. China’s continued interactions with Russia in light of the Ukraine war and concerns over security in the tech sector have driven a wedge between the two, however China’s envoy to the EU Fu Cong has said there is “no fundamental conflict of interest” between them.

The Boao Forum for Asia (BFA)’s annual conference is coming to a close tomorrow with 2,000 delegates from over 50 countries attending. Singapore and Malaysia’s leaders spoke at the event and warned against great power rivalries, echoing the concerns of many Southeastern countries that U.S.-China tensions could spill over into the region.

China’s new premier is optimistic about the country’s economy, saying he saw improvement in March. This announcement came during a speech Lǐ Qiáng 李强 gave at the Boao Forum for Asia, as China seeks to ease the concerns of foreign companies on whether or not China is still committed to opening to the world.