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The Latest Breaking News from Shanghai

Can China preserve both its economy and its zero-tolerance COVID-19 policy?

TAIPEI, Taiwan — China's zero-COVID strategy is starting to derail another major item on the government's agenda: economic stability.

Los Angeles Times

Tesla Will Run Two Shifts At Shanghai Plant From May 16

Tesla, Inc (NASDAQ:TSLA) looks to run two shifts at its Shanghai plant from May 16, Reuters reports. The additional shift would enable the EV maker to return factory output to pre-lockdown levels. Tesla aims to churn out 2,600 electric cars from the Shanghai plant per day. Also Read: Tesla Shanghai Workers Forced To…

Benzinga

ACM Research Misses Q1 Due To Shanghai Lockdown

ACM Research, Inc (NASDAQ:ACMR) reported a first-quarter FY22 revenue decline of 3.5% year-on-year to $42.2 million, missing the consensus of $51.8 million. The decline reflected lower revenue from single wafer wet cleaning tools, advanced packaging, and other back-end processing equipment due to COVID-19 restrictions in Shanghai. The Shanghai lockdown negatively impacted revenue from…

Benzinga

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read the most diverse news in one place.

China builds permanent COVID testing stations for life after lockdown

China is setting up thousands of permanent PCR testing stations, with 9,000 already completed in Shanghai alone, as authorities seek to "normalise" tough pandemic controls even after the current round of lockdowns end.

Reuters

As Beijing battles outbreak, China warns 'zero COVID' doubters

Beijing residents fretted on Friday over tightening COVID curbs in its biggest district and dozens of new cases reported daily as China's leaders reiterated their resolve to battle the virus and threatened action against critics of their strict measures.

Reuters

Xi Jinping attacks ‘doubters’ as he doubles down on China’s zero-Covid policy

President defends ‘scientific and effective’ mass lockdowns despite protests, shortages and damage to economic growth

The Guardian - AU

Lockdowns, crackdowns, chew toys. Owning an illegal big dog in Beijing

In China’s strictest city for dog-owners, a growing community of big dog-lovers learns how to live on the wrong side of the law

Financial Times

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Shanghai says China's worst COVID outbreak under "effective control"

Shanghai said on Friday it has brought China's worst outbreak of COVID-19 under effective control following a month-long lockdown of nearly 25 million people, with authorities vowing to stand by their zero-COVID strategy despite mounting economic costs.

Reuters

'How did we catch it?': spread of COVID baffles locked-down Shanghai residents

Veronica thought she did everything right by sticking to all of the COVID-19 lockdown rules in the Chinese city of Shanghai.

Reuters

'Genshin Impact' 2.7 delay update suggests HoYoverse's troubles are far from over

The 'Genshin Impact' 2.7 delay is the first in HoYoverse's typically steady schedule of updates. It's for a good reason, though.

Inverse

Arm China Fires CEO But He Refuses To Just Pack His Bags And Leave

Arm China — a Shanghai-based joint venture between Arm Ltd and Chinese private equity firm Hopu Investment — on Thursday said its former CEO Allen Wu was refusing to relinquish his role despite being fired last week.

Benzinga

Shanghai Composite Index Rose 0.68% on Thursday

Shenzhen Component Index closed up 0.23%

Caixin Global

Beijing nervously returns to work as China doubles down on 'zero-COVID' policy

Beijing residents tentatively returned to work on Thursday after a muted five-day Labour Day holiday devoid of the usual trips across the country or lavish family dinners, as China pledged to fight any criticism of its uncompromising "zero-COVID" policy.

Reuters

‘No end in sight’: In Beijing, fears of Shanghai-style lockdown

Officials in Chinese capital have designated 518 coronavirus outbreak sites amid growing fears of a city-wide lockdown.

Al Jazeera

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Reuters

Shanghai reports 13 new COVID-related deaths for May 4, versus 16 a day earlier

China's eastern financial hub of Shanghai reported 13 new COVID-19 deaths for May 4, down from 16 a day earlier, the local government said in a statement on Thursday.

Benzinga

De Well Files for Hong Kong IPO, Flush With New Ties to Cainiao

Key Takeaways: • Global logistics services provider De Well has filed for a Hong Kong IPO, aiming to boost its footprint on booming demand for cross-border e-commerce

InsideEVs

New Tesla Plant To Make Shanghai "World's Largest Vehicle Export Hub"

The new facility, which will be built near the existing plant, will produce Model 3 and Model Y cars when the first phase of construction is completed.

Al Jazeera

Beijing imposes new transit restrictions in bid to contain COVID

As Omicron spreads, officials in China’s capital city are trying to avoid the kind of mass lockdown seen in Shanghai.

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news in one place.

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Benzinga

People In Shanghai Use NFTs To Skirt Censorship And Record Harsh COVID-19 Lockdown Experiences

Shanghai's residents are preserving memories of their strict COVID-19 lockdown by minting videos, photos, and artworks as NFTs (non fungible tokens) while skirting Chinese censors, according to a Reuters report.

Benzinga

Tesla Confirms Plans For New Shanghai Plant That Would Double China Capacity

Tesla Inc (NASDAQ: TSLA) has confirmed plans to build a second manufacturing plant in Shanghai as it looks to double production capacity in China, Reuters

Asharq Al-Awsat

Beijing Closes Dozens of Subway Stations as Covid Controls Tighten

Beijing closed dozens of subway stations on Wednesday, as Covid restrictions slowly constrict movement across the Chinese capital of over 21 million people.

The Guardian - AU

Beijing reopens mass isolation centre in fight against Covid

Chinese capital ramps up efforts to control Omicron outbreak and avoid lockdowns

Reuters

Beijing steps up COVID curbs as virus spreads in China

Beijing shut scores of metro stations and bus routes and extended COVID-19 curbs on many public venues on Wednesday, focusing efforts to avoid the fate of Shanghai, where millions have been under strict lockdown for more than a month.

ABC News

Outcry in China after Shanghai aged care resident was wrongly declared dead and sent to morgue in body bag

Five people are under investigation after an elderly resident at the care home was mistakenly declared dead, placed in a body bag and loaded into a car bound for the morgue.

Asharq Al-Awsat

Oil Slips on China Demand Worries, While EU Weighs Russia Oil Ban

Oil slipped about 1% on Tuesday as concerns about the demand outlook due to prolonged COVID lockdowns in China outweighed support from a possible European oil embargo on Russia over its actions in Ukraine. Beijing, reporting dozens of new cases daily, is mass-testing residents to avert a lockdown similar to…

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