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The Latest Breaking News from Shanghai

Shanghai aims to defeat COVID over next week as Beijing hunkers down

Locked-down Shanghai aims to ringfence its COVID outbreak over the next week, officials said on Friday, while residents in China's capital Beijing largely heeded the advice of authorities to work from home to stem the virus' spread.

Reuters

Parcel Delivery Services in Shanghai Make Slow Comeback

Volume reaches 1 million packages daily — a sixth of normal capacity — as authorities clear more services to resume after month of Covid lockdowns

Caixin Global

Camtek Clocks 35% Revenue Growth In Q1 Backed By Robust Order Flow Amid China's Covid Lockdown, Global Tensions

Camtek Ltd (NASDAQ:CAMT) reported first-quarter FY22 revenue growth of 35% year-on-year to $77.17 million, marginally beating the consensus of $77 million. The non-GAAP gross margin expanded 130 bps to 52%. The non-GAAP operating margin expanded by 160 bps to 28.8%. Non-GAAP EPS of $0.44 missed the consensus of $0.45. The company held $428.3…

Benzinga

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Elon Musk praises Chinese workers for ‘burning the 3am oil’ – here’s what that really looks like

Tesla’s massive Shanghai ‘Giga-factory’ pushes its workers to the limit to meet production targets amid an ongoing pandemic lockdown

The Guardian - US

Shanghai Composite Index Fell 0.12% on Thursday

Shenzhen Component Index closed down 0.13%

Caixin Global

Beijing denies lockdown rumours as Shanghai hunts elusive COVID

Beijing denied it was heading for lockdown as panic buying gripped the capital on Thursday, while Shanghai combed the city for lingering COVID-19 cases in the hope of clearing the way to escape from weeks of painful restrictions.

Reuters

China fights economic slump, sticks to costly 'zero COVID'

China’s leaders are struggling to reverse a deepening economic slump without giving up a “zero-COVID” strategy that shut down Shanghai and other cities

The Independent UK

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Can Xi Jinping vanquish Covid without crushing China’s economy?

In a crucial political year, a series of open-ended lockdowns have heaped pressure on struggling businesses

Financial Times

At mercy of zealous residential committees, Shanghai's locked-down vent frustration

Last week, Elizabeth Liu and her husband were excited about the prospect of leaving their Shanghai residential compound for the first time in over a month. All but one building in the compound had just been reclassified as low risk after 14 days of no COVID cases.

Reuters

Australians in Shanghai disappointed lockdown could stop them voting in federal election

Australians living under a strict lockdown in Shanghai have given up on hopes of voting in the federal election, saying there's no chance they will be able to send postal votes back to the Australian Electoral Commission in time.

ABC News

Tesla Restarts Exports Out Of China Following Previous Shutdown

Tesla's Giga Shanghai recently reopened after a lengthy shutdown. However, it has already ramped up enough capacity to start shipping cars overseas.

InsideEVs

Opinion: How Singapore Could Outperform Shanghai, Hong Kong to Become Asia’s Financial Center

The country has benefited from China-U.S. tensions and a successful response to Covid-19

Caixin Global

Tesla Analyst Contradicts Elon Musk On China Lockdown Impact: 'Giga Shanghai Ramp-Up Unlikely Until June'

The key to Tesla, Inc. (NASDAQ: TSLA) hitting its sales target for the year is the speedy ramp of Giga Shanghai, which faced disruptions from COVID-19 lockdowns in China.

Benzinga

Shanghai to restrict access to food deliveries and hospitals in new severe phase of Covid lockdown

City officials move to toughen lockdown rules further despite being urged to change course

Evening Standard

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WEKU

Shanghai maintains 'zero-COVID' policy but the U.N. says it is not sustainable

The leader of the World Health Organization says he doesn't think that a 'zero-COVID' strategy is sustainable, given the behavior of the virus.

Caixin Global

Shanghai Composite Index Rose 0.75% on Wednesday

Shenzhen Component Index closed up 1.8%

Al Jazeera

‘Localised’ recessions? China’s economy teeters amid lockdowns

Economists warn of negative economic growth in certain sectors and regions if ‘zero COVID’ policy continues.

The Guardian - AU

Lifting zero-Covid policies in China could risk 1.6m deaths, says study

Authorities might let people isolate at home instead of quarantine centres but anger continues in Shanghai about heavy-handed tactics

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The Independent UK

Shanghai reaffirms 'zero-COVID'; WHO says not sustainable

Shanghai is reaffirming China's strict “zero-COVID" approach to pandemic control, a day after the head of the World Health Organization said that was not sustainable and urged China to change strategies

Reuters

Half of Shanghai achieves 'zero COVID'; city presses on with 'unsustainable' fight

China hit back on Wednesday against what it called "irresponsible" comments by the head of the World Health Organization, who described the country's uncompromising and increasingly painful "zero COVID" policy as "not sustainable."

The Times of India

China risks 1.6 million deaths in virus ‘tsunami’ if Covid Zero is abandoned: Study

BEIJING: China risks a “tsunami” of coronavirus infections resulting in 1.6 million deaths if the government abandons its long-held Covid Zero policy and allows the highly-infectious Omicron variant to spread unchecked, according to researchers at Shanghai’s Fudan University.

Benzinga

Elon Musk Says Tesla Will Expand Giga Shanghai But No New Plant Planned In China

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said on Tuesday that the electric vehicle maker would expand its Giga Shanghai factory but has no plans to launch any new plants in China.

Reuters

Dropping zero-COVID policy in China without safeguards risks 1.5m lives - study

China risks just over 1.5 million COVID deaths if it drops its tough zero-COVID policy without any safeguards such as ramping up vaccination and access to treatments, according to new modelling by scientists in China and the United States.

The Conversation

China’s COVID crisis and the dilemma facing its leaders, by experts who have monitored it since the Wuhan outbreak

More than two years after a deadly strain of coronavirus was first identified in the central city of Wuhan, China remains locked in a COVID crisis. Around 400 million people are currently thought to be living under some form of lockdown across the country. One of China’s largest cities, Shanghai,…

InsideEVs

China: Made In China Tesla Wholesale Shipments Collapsed In April 2022

The total Tesla volume (sales and export) - according to the CPCA's data - amounted to just 1,512 units, which is 94% less than a year ago.

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