Wall Street Journal writes that on its face, Donald Trump's deference to Xi Jinping at their summit was a victory for China, although not nearly the surrendering of U.S. leadership in Asia to the Chinese strongman that some critics allege. Mr. Xi's China, Mr. Trump said, paying fulsome tribute to the omnipotence of the newly crowned supreme leader standing next to him, could fix the Korean nuclear crisis "easily and quickly." On Chinese trade abuses, he appeared to absolve Mr. Xi of all responsibility, provocatively suggesting there is honor in the way Chinese leaders game the global trading system to win advantage for their people. "I give China great credit," he said. Look beyond the flattery, however, and a harder-edged strategy comes into focus. As Mr. Trump lavished praise on the Chinese president—"you're a very special man," he purred—three U.S. aircraft-carrier strike groups prowled the Western Pacific. They are a reminder of the military options the Pentagon is weighing against Pyongyang, knowing that while China could do more to pressure Kim Jong Un to slow his nuclear buildup, Mr. Xi's leverage is in fact limited.

Financial Times writes: "Courtesy demands reciprocity, as the Chinese saying goes. US president Donald Trump was effusively courteous during his visit to China last week, at one point describing Xi Jinping, his Chinese counterpart, as a "very special man". On one level, therefore, Beijing's announcement of a financial market liberalisation on Friday — a day after Mr Trump left the country — might be interpreted as a reward. But any such symbolism is the least significant aspect of China's decision to ease limits on foreign ownership of financial services groups. Under the announcement, foreign firms will be allowed to hold a majority stake in joint ventures with Chinese securities companies and life insurers. In addition, caps on foreign banks' stakes in Chinese banks and asset managers are to be removed, according to a statement by China's state council. The move is important in two ways. The liberalisation — for which a full timetable has not been announced — ranks as one of China's biggest in financial services since the country joined the World Trade Organization in 2001. China has used joint venture requirements and ownership caps in a range of industries to protect domestic groups from competition, and to induce sharing of foreign technology and expertise. But this opening is also a gift that Beijing is giving to itself. China needs the governance standards and competition that the world's top banks, insurance companies and investment funds can bring to its domestic market. If any proof of this were needed, the words of Zhou Xiaochuan, governor of the People's Bank of China, should provide it.