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The Latest Breaking News from Shanghai

Report: Tesla Giga Shanghai Pauses Production

According to Reuters's unofficial sources, the company is suspending production for two days. Reuters notes that a single day of production is worth 2,000 cars.

InsideEVs

Shanghai Composite Index Rose 3.48% on Wednesday

Shenzhen Component Index closed up 4.02%

Caixin Global

Popular Chinese Actor Owes Government $16.6 Million for Evading Taxes

Shanghai tax authorities says Deng Lun sidestepped paying millions by dressing up personal income as corporate income, which is taxed at a lower rate

Caixin Global

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China's Lockdown Of Tech Hubs To Hamper Amazon, Walmart's Online Delivery: Report

China's recent lockdown looks to hamper the online order delivery of global e-commerce firms like Amazon.com Inc (NASDAQ:AMZN) and Walmart Inc (NYSE:WMT), Bloomberg reports. China had to initiate lockdowns and restrictions in its crucial manufacturing hubs like Shenzhen and Dongguan following a Covid-19 resurgence. Related Content: China Restricts Activities In Shenzhen, Shanghai Following Covid-19 Resurgence The…

Benzinga

Chinese markets slump over fears of how Covid-19 lockdowns will hurt economy

Stock markets in Shanghai and Hong Kong slumped on Tuesday, as investors fear the impact of the latest Covid-19 lockdowns on China's economy. Nearly 30 million people are now living under restrictions in the country, including in the technology manufacturing hub of Shenzen. Also today, Volkswagen has suspended production of…

France 24

Chinese virus cases climb, raise threat of trade disruption

Anti-virus controls have forced auto and electronics makers to shut factories in China and are raising risks of wider disruptions if the curbs spread to Chinese ports that are among the world’s busiest

The Independent UK

Shanghai official rules out need for COVID lockdown at the moment

China's financial hub of Shanghai is not under lockdown, and does not need one "at the moment" to minimise the disruption to people's daily lives from the COVID-19 outbreak, state television quoted a city government official as saying.

Reuters

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Nearly 30 Million Under Lockdown in China as Virus Surges

Nearly 30 million people were under lockdown across China on Tuesday, as surging virus cases returned mass tests and hazmat suited health officials to city streets on a scale not seen since the start of the pandemic. China reported 5,280 new Covid-19 cases on Tuesday, more than double the previous…

Asharq Al-Awsat

Yum China Stock Slides As COVID-19 Resurgence Disrupts Operations

Yum China Holdings Inc (NYSE:YUMC) said its first-quarter fiscal 2022 operations are significantly impacted by the highly transmissible Omicron variant causing outbreaks across China, including economically important regions of Guangdong, Shanghai, Shandong, and Jilin. The company noted quarter-to-date case counts for 2022 have surpassed that of the full year 2021. Yum China's same-store…

Benzinga

Seventeen million Chinese go back into lockdown as Covid cases surge

Seventeen million people in the Chinese technology industry hub of Shenzhen began their first full day under lockdown on Monday, with restrictions also imposed in Shanghai and other major cities in an effort to halt a major threat to the nation's zero-tolerance Covid strategy.

Radio France Internationale

China's worst COVID-19 outbreak in two years shuts down major cities

China's government is responding to a spike in coronavirus infections by shutting down its southern business centre of Shenzhen and restricting access to Shanghai.

ABC News

Shanghai Composite Index Fell 2.6% on Monday

Shenzhen Component Index closed down 3.08%

Caixin Global

Chinese Cities and Factories Lock Down as Outbreak Spreads

Seventeen million people in the Chinese tech hub of Shenzhen began their first full day under lockdown Monday, as a key factory making iPhones closed and restrictions spread across Shanghai and other major cities in an effort to extinguish the biggest-ever threat to the nation's zero-tolerance Covid strategy. The southern…

Asharq Al-Awsat

Master Cheng review – soupy tale of a Chinese chef in smalltown Finland

The dubious locals are won over by a Shanghai widower’s cooking in this hokey but soothing story of acceptance

The Guardian - UK

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Asharq Al-Awsat

China Records Nearly 3,400 Daily Virus Cases in Worst Outbreak in Two Years

Chinese health authorities reported nearly 3,400 Covid-19 cases on Sunday, double the previous day, forcing lockdowns on virus hotspots as the country contends with its gravest outbreak in two years. A nationwide surge in cases has seen authorities close schools in Shanghai and lock down several northeastern cities, as almost…

The Independent UK

China's virus cases rise, access to Shanghai tightened

The number of new daily coronavirus cases in an outbreak in China's northeast has more than tripled

The Independent UK

China tightens controls as more virus cases reported

Hong Kong has reported over 27,600 new coronavirus cases while Shanghai closed schools and parks and authorities in Beijing suspended access to a residential area after new infections were found

Caixin Global

Weekly Must-Read: China Meheco Confirms Pfizer Talks on Selling Paxlovid in China

State-owned drugmaker’s shares surge by 10% limit on four straight days in Shanghai, though its role may be limited to distribution logistics

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Bangkok Post

China daily Covid-19 cases hit 2-year high

SHANGHAI: Mainland China reported more than 1,500 new local Covid-19 infections on Saturday, the most since the initial nationwide outbreak at the start of 2020, as the Omicron variant prompts cities across the country to further tighten measures.

Caixin Global

Shanghai Suspends In-Person Classes at Schools as Covid Outbreak Spreads

China’s financial hub will require elementary, middle and high school students to study online from Saturday

Benzinga

Piper Sandler Remains Cautious On Tesla Despite Noting Its Strength

Piper Sandler analyst Alexander Potter admitted that the current weekly China Passenger Car Association February sales and production exhibited continued strength for Tesla Inc's (NASDAQ:TSLA) Shanghai factory. Tesla sold 56,515 China-made vehicles in February, including 33,315 for export. Potter also noticed a "general uptick in inbound calls" from investors regarding Tesla's exposure to geopolitical risks and commodity price…

Reuters

Shanghai steps up defences against wave of asymptomatic COVID cases

The Chinese financial hub of Shanghai is moving quickly to halt the spread of COVID-19 amid a rising wave of local symptomless cases, testing tens of thousands of people, delaying dozens of concerts and exhibitions and shutting some public venues.

Bangkok Post

Nickel chaos goes silent as China also hits pause on trading

Nickel futures are not trading anywhere in the world on Wednesday, after prices in Shanghai hit their daily upward limit in the wake of unprecedented moves and a trading suspension on the London Metal Exchange.

Caixin Global

Shanghai Composite Index Fell 2.35% on Tuesday

Shenzhen Component Index closed down 2.62%

Reuters

Mainland China daily local COVID cases climb to 2-year high

Mainland China has logged its highest number of daily new local symptomatic COVID-19 infections in about two years, with the highly transmissible Omicron variant putting pressure on the government's strict policy of curbing each outbreak quickly.

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