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The Latest Breaking News from Shenzhen

Huawei's 2021 Annual Report Shows Sales Plunge While Profits Sore, Despite US Crackdown

Chinese giant telecom equipment maker Huawei released its 2021 annual report on Monday revealing that sales fell but profit rose. Chief financial officer Meng Wanzhou, appeared at a press conference in Shenzhen to announce the company’s annual results for the first time since being held in Canada in 2018.

Benzinga

Shanghai Composite Index Fell 0.33% on Tuesday

Shenzhen Component Index closed down 0.46%

Caixin Global

Shanghai Composite Index Rose 0.07% on Monday

Shenzhen Component Index closed down 1.02%

Caixin Global

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All eyes on China

China's zero-Covid policy has lasted for nearly two years and faced a tough challenge last week as a flare-up triggered fresh lockdowns in several industrial cities in hard-hit northeastern Jilin province and southern technology hub Shenzhen.

Bangkok Post

Shanghai Composite Index Fell 1.17% on Friday

Shenzhen Component Index closed down 1.89%

Caixin Global

US Goods Risk Delay As China's Lockdowns Heightens Shipping Port Jams: Bloomberg

The key Chinese ports of Shenzhen and Hong Kong face congestion, which rose to the highest level in five months due to COVID-19 lockdowns. It could pose possible delays to goods heading to the U.S. this summer, reported Bloomberg. Ryan Closser, a director at FourKites, states, “Shenzhen is the second-busiest port…

Benzinga

Shanghai Composite Index Fell 0.63% on Thursday

Shenzhen Component Index closed down 0.83%

Caixin Global

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Shanghai Composite Index Rose 0.34% on Wednesday

Shenzhen Component Index closed up 0.73%

Caixin Global

Baoneng Chairman Yao Zhenhua Is Not Missing, Despite Court Statement

Debt-laden property and financial services conglomerate posts a picture of Yao at a Shenzhen factory in response to court declaration his whereabouts were unknown

Caixin Global

Shanghai Composite Index Rose 0.19% on Tuesday

Shenzhen Component Index closed down 0.49%

Caixin Global

Shanghai Composite Index Rose 0.08% on Monday

Shenzhen Component Index closed up 0.41%

Caixin Global

China's Shenzhen city says lifts COVID curbs on offices, factories - CCTV

China's Shenzhen city said it would allow offices and factories to restart operations from Monday and that public transport would also resume, after residents in the city completed three rounds of COVID-19 testing, state broadcaster CCTV reported.

Reuters

Disney closes Shanghai park as virus rises, Shenzhen reopens

Disney Co. has closed its Shanghai theme park as Chinese authorities try to control the city’s biggest coronavirus flareup in two years, while the southern business center of Shenzhen allowed shops and offices to reopen after a weeklong closure

The Independent UK

Shanghai Composite Index Rose 1.12% on Friday

Shenzhen Component Index closed up 0.31%

Caixin Global

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Reuters

China's factories opt for isolation bubbles to beat COVID curbs and keep running

To keep factory lines open in the face of COVID curbs Chinese firms are asking workers to eat, sleep and work in bubbles isolated from the wider world, sterilising premises as often as three times a day and testing for COVID daily.

The Independent UK

China's Shenzhen to reopen, still trying to contain virus

The Chinese government says companies in Shenzhen, a major business center, will be allowed to reopen while efforts to contain outbreaks there progress

Caixin Global

Shanghai Composite Index Rose 1.4% on Thursday

Shenzhen Component Index closed up 2.41%

Reuters

China's Shenzhen city says will allow firms to resume work in an orderly manner

Shenzhen city in China, a key technology and manufacturing hub that had halted operations of companies to tackle rising COVID-19 cases, will allow them to resume work and production in an orderly manner, a local government official said on Thursday.

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Benzinga

Apple's Key Supplier Resumes Partial Operation At Shenzhen Campuses

Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF), also known as Foxconn, resumed partial operations and production at its two Shenzhen campuses, one of which makes iPhones, after assuming Covid measures, Bloomberg reports. Foxconn had suspended operations after Shenzhen imposed a city-wide lockdown, including its Guanlan factory. Foxconn has resumed some production at…

Caixin Global

Shanghai Composite Index Rose 3.48% on Wednesday

Shenzhen Component Index closed up 4.02%

Tribune News Service

World economy faces supply hit as China battles COVID again

The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak of COVID-19 since the pandemic began.

Benzinga

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…

The Independent UK

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 Guardian - UK

Oil tumbles back to $100; UK pay squeeze continues – as it happened

Rolling coverage of the latest economic and financial news

Caixin Global

Shanghai Composite Index Fell 4.95% on Tuesday

Shenzhen Component Index closed down 4.36%

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