The Latest Breaking News from Shanghai

Shenzhen Component Index closed down 0.73%

Asian shares are mixed, with Shanghai gaining after reopening from the Lunar New Year holidays

After days of face to face diplomacy at the Beijing 2020 Winter Olympics, it was time for the holograms to take over on Sunday. A life-size image of International Olympic Committee president Thomas Bach virtually handed an Olympic torch to a similar hologram of the chief executive of tech giant…

Ministers have confirmed taxpayers are paying to rent thousands of shipping containers to house billions of masks, gloves and gowns across the UK - and in Shanghai

Tesla has made it official that Giga Shanghai is its main export hub, and this video gives us an idea of how the situation is unfolding for Q1 2022.

Key takeaways: Daqo New Energy will tap its China-listed subsidiary to raise funds for construction of a major new production facility in Inner Mongolia Daqo’s holdings in the China-listed unit, Xinjiang Daqo, are worth more than four times its own latest market value By Doug Young

U.S. memory chip giant Micron Technology Inc (NASDAQ:MU) has confirmed it will close its DRAM design operations in Shanghai by 2022 end, SCMP reports. Micron looks to ask ~150 Chinese engineers to relocate to the U.S. or India. Micron, which employs about 43,000 people globally, did not provide a reason for the decision.…

Shenzhen Component Index closed up 0.7%

Key takeaways:

Shanghai-based Tuhu is looking to build up capacity amid growing demand in the world’s largest auto market

The Fremont factory built 444,600 cars in 2021 but got surpassed by Giga Shanghai, which tripled its output last year to nearly 486,000 units.