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The Latest Breaking News from China

The world's electric vehicle fleet will soon surpass 20 million

The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth from only 1 million EVs on roads in 2016.

Tribune News Service

Global Cord Blood Corp Looks Anemic on Slow Growth, Regulatory Concerns

Key Takeaways:

Benzinga

Leaning on a Single Artist, Fenghua Qiushi Hopes Fourth IPO Attempt is a Hit

Key takeaways: Fenghuang Qiushi has submitted a new application to list in Hong Kong, its fourth such submission in just 16 months The company is highly dependent on Tencent Music, deriving 38.1% of its revenue from the company last year By Tina Yip

Benzinga

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Parties against RSS and Modi should come together, says Rahul Gandhi

He draws parallel between Russia-Ukraine conflict and border hostilities with China

The Hindu

Mercedes-Benz Inaugurates Electric Software Hub In Germany

Mercedes-Benz Group AG (OTC:DMLRY) inaugurated a new €200 million ($217 million) Electric Software Hub in Sindelfingen, Germany. The center is part of a broader effort by Mercedes-Benz to streamline its software strategy from a patchwork approach bringing in technology from a wide range of suppliers to controlling the core of its software offering…

Benzinga

HSBC Slashes Price Targets On Alibaba, Baidu Due to China's Covid Surge, Regulatory Crackdown

HSBC analyst Charlene Liu cut the price target on Baidu Inc (NASDAQ:BIDU) to $180 from $195 (31.3% upside) and kept a Buy rating on the shares. The analyst now assumes a worse impact from COVID-19 on the company's core ad and cloud businesses and margins, seeing a recovery only in Q4. Liu reduced the price…

Benzinga

Planet Green Inks Share Exchange Agreement With Allinyson

Planet Green Holdings Corp (NYSE:PLAG) has entered into a Share Exchange Agreement with Allinyson Ltd to acquire 100% of the issued and outstanding equity interests of Allinyson. Planet Green will issue 7.5 million shares to the Allinyson Sellers in exchange for the transfer of 100% of their equity interests. Allinyson develops and operates online games,…

Benzinga

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Karat's Goal Is To Build First-Of-Its-Kind Bagasse Production Plant In US: CEO Alan Yu

Karat Packages (NASDAQ:KRT) CEO Alan Yu shared his thoughts with Benzinga on the recently announced joint venture with Happiness Moon to establish a new corporation. Karat plans to establish a new corporation, Green Earth Technology, to build a new 180,000 square-foot factory in Taiwan. It will hold a 49% interest in Green Earth,…

Benzinga

ClearSign Tech Shares Jumps As It Continue To Enjoy Analyst Confidence Post Q4

H.C. Wainwright analysts Amit Dayal and Sameer Joshi maintained a Buy rating on ClearSign Technologies Corp (NASDAQ:CLIR) with a price target of $6.00 post Q4 (300% upside). The analysts believe that ClearSign's products continue to attract customers thanks to the recent win for 20 process burners in California. Further, management suggests that the relationship with sales and…

Benzinga

China Cracks Down Upon Tencent, Other Tech Giants Over Algo Abuse; Questions Alibaba, Others To Address Job Cuts

China looks to rein in the potential abuse of algorithms by internet giants from ByteDance Ltd to Tencent Holdings Ltd (OTC: TCEHY), Bloomberg reports. The Cyberspace Administration of China looks to inspect how social media platforms serve up ads and content to hook users, especially the large-scale websites, platforms, and products with significant influence.…

Benzinga

TSMC Scores In Q1 Thanks To Apple, Samsung

Taiwan Semiconductor Manufacturing Co Ltd's (NYSE:TSM) first-quarter FY22 revenue jumped 36% to NT$491.1 billion ($17 billion). Higher demand for smartphones, computers, and car chips and the ongoing semiconductor crisis helped boost prices, Bloomberg reports. TSMC kept production running in China, even as many other factories struggled to cope with the local pandemic policy. Also…

Benzinga

Explainer-What political upheaval in Pakistan means for rest of the world

Pakistan Prime Minister Imran Khan faces a no-confidence vote in parliament on Saturday which he is widely expected to lose.

Reuters

South China Sea issues handled 'properly,' Xi tells Duterte

Chinese leader Xi Jinping has told outgoing Philippine President Rodrigo Duterte that the two nations have “properly” handled the sensitive issue of the disputed South China Sea

The Independent UK

Renren Inks Software License Agreement With Guangzhou Yupu

Renren Inc (NYSE:RENN) has signed a Software License and Distribution Agreement with Guangzhou Yupu Software Technology Co Ltd. The agreement gives Renren's subsidiary SaaS Logistics US Inc, a license to modify, sell, and commercially exploit the licensed software worldwide, except in Mainland China, for a one-time consideration of RMB2 million ($0.31 million). Rui…

Benzinga

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The Guardian - AU

Desperation amid food shortages in Shanghai as Covid lockdown bites

Lockdown had been due to end on Tuesday, leaving residents unprepared to be indefinitely housebound

Reuters

French voters in COVID-hit Shanghai unable to cast ballots in Sunday election

French citizens under lockdown in COVID-hit Shanghai will be unable to vote at a city polling station in Sunday's tightly contested first round of the presidential election, France's embassy in Beijing said on Friday.

Benzinga

Tesla Giga Shanghai Said To Remain Shut Amid COVID-19 Lockdowns

Tesla Inc’s (NASDAQ: TSLA) key manufacturing plant Giga Shanghai remained shut on Friday amid citywide lockdowns in China due to a recent spike in COVID-19 cases, Nikkei Asia

The Independent UK

3 Shanghai officials sacked over COVID-19 response

Three local officials in Shanghai have been sacked over a slack response to the COVID-19 outbreak in China's largest city, where residents are complaining of harsh lockdown conditions leading to shortages of food and basic necessities

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Reuters

Hong Kong's former deputy chief to hold news conference after resignation

Hong Kong's former deputy leader, John Lee, said he will hold a news conference on Saturday after China approved his resignation as chief secretary of the global financial hub.

Caixin Global

Shanghai Composite Index Rose 0.47% on Friday

Shenzhen Component Index closed down 0.11%

ABC News

Caroline Kennedy fronts US Senate, offering glimpse of issues she will deal with as US ambassador to Australia

Caroline Kennedy has fronted the US Senate as part of her confirmation process to become the next US ambassador to Australia. Here's what she has said on some of the big issues, ranging from China and AUKUS, to climate change and strategic competition in the Pacific.

The Times of India

For China's leaders, 'lying flat' is scarier than Covid

In the US and Europe, the phrase "living with the virus" refers to reopening the economy and trusting that vaccines work. Not in China. In the public discourse, that would be tantamount to "lie flat," a catchphrase for encouraging inaction — an approach that has grown so popular that it…

Reuters

Shanghai widens COVID testing as other Chinese cities impose curbs

Shanghai on Friday announced a record 21,000 new cases and a third consecutive day of COVID testing as a lockdown of its 26 million people showed no sign of easing and other Chinese cities tightened curbs - even in places with no recent infections.

Al Jazeera

Is a global recession coming? In US, China risks are mounting

Ukraine war and China’s lockdowns among risks to global growth, although most economists say downturn unlikely in 2022.

The Times of India

Covid-19: Shanghai races to build hundreds of thousands of isolation beds

SHANGHAI: Shanghai is transforming conference centers and conscripting neighboring provinces to create isolation facilities for hundreds of thousands of people, a sign of its commitment to a zero tolerance approach to Covid-19 amid China's worst outbreak to date.

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