The Latest Breaking News from Shanghai

China's premier has sounded an unusually stark warning about the world's second-largest economy, saying it must return to normal as the country's zero-Covid strategy bites into growth. China is the last major economy welded to a policy of mass testing and rapid lockdowns to eliminate virus clusters, but the strict…

Alibaba Group Holding Limited's (NYSE:BABA) hunt for overseas growth is critical to offset sluggish demand at home by expanding in Europe through its Southeast Asian offshoot, Lazada, Reuters reports. Lazada plans to target local European vendors, while Alibaba's existing global platform, AliExpress, will continue to focus mainly on cross-border sales from China. However, the…

Toyota Motor Corp (NYSE:TM) plans to cut global production by about tens of thousands of units to roughly 850,000 vehicles in June due to the semiconductor shortage. The auto major expects to produce 9.7 million units for the full period of the fiscal year 2023. The average global production plan from June through…

Callum and his wife Neelam, who are both teachers, are currently living in Shanghai where they welcomed their baby daughter Isabelle in February.

Shenzhen Component Index closed down 3.34%

Beijing stepped up quarantine efforts to end its month-old COVID outbreak as fresh signs of frustration emerged in Shanghai, where some bemoaned unfair curbs with the city of 25 million preparing to lift a prolonged lockdown in just over a week.

The Tesla Giga Shanghai plant in China is gradually ramping-up production and already appears to be approaching half of its pre-lockdown output.

EV maker is also trying to start a second shift at the plant as soon as this week so that car production can resume operating around the clock.

The Chinese capital extended its work-from-home requirement for many of its 22 million residents to stem a COVID-19 outbreak, while Shanghai deployed more testing and curbs to hold on to its hard-won "zero COVID" status after two months of lockdown.