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The Latest Breaking News from China

Citi Slashes Alibaba's Price Target By 12% As COVID Resurgence Looks To Dampen Growth

Citi analyst Alicia Yap lowered the price target on Alibaba Group Holding Ltd (NYSE:BABA) to $177 from $200 (59.5% upside) and kept a Buy rating on the shares. Amid the widening spread of COVID cases and city lockdowns, the analyst thinks overall economic activities in China have been negatively affected, which has drained Alibaba's profit…

Benzinga

The Daily Biotech Pulse: BioXcel's Igalmi Gets FDA Nod, Citius Spikes On Positive Phase 3 Data, Iovance Receives Positive Regulatory Feedback For Skin Cancer Therapy

Here's a roundup of top developments in the biotech space over the last 24 hours.

Benzinga

CATL To Open 8 GWh Battery Cell Plant In Germany Later This Year

Expected to employ 1,500 people when it opens before the end of 2022, CATL's new battery cell plant is its first one outside China.

InsideEVs

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China relies on traditional medicine to fight COVID surge in Shanghai

Shanghai is distributing to residents millions of boxes of traditional Chinese medicine (TCM), such as herbal products and flu capsules, which it says can treat COVID-19 in the battle to control its largest virus outbreak.

Reuters

Explainer-Hong Kong No. 2 official announces bid for leadership election

Hong Kong's deputy leader, former police officer John Lee, announced on Wednesday that he plans to run for the city's top job, which could see Beijing signing off on the first security official to run the global financial hub.

Reuters

China calls for probe into Bucha killings, assigns no blame

China says the reports and images of civilian deaths in the Ukrainian town of Bucha are “deeply disturbing" but that no one should be blamed until all facts are know

The Independent UK

Eleven Cities Join China’s Digital Yuan Pilot Program

The PBOC says the trials have so far highlighted issues related to convenience, security and compliance

Caixin Global

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Australia and India thank Quad for new free trade deal

India and Australia’s trade ministers say a shared security partnership with the United States and Japan has helped them strike a trade deal that Australia hopes will reduce its dependence on exports to China

The Independent UK

Mark McGowan condemns ‘morons’ for displaying ads outside his home linking Labor with China

Trucks with ads showing the Chinese president voting for Labor have been seen across Australia this week

The Guardian - AU

U.S. consulate staff in China help Marines running low on rations

Generous colleagues helped out seven U.S. Marines at the U.S. consulate in Shanghai who were running out of fresh food because of a strict coronavirus lockdown, according to posts in private consulate message groups.

Reuters

China U.N. Envoy Calls for Probe Into ‘Deeply Disturbing’ Incidents of Civilian Deaths in Bucha, Ukraine

Zhang Jun, China’s U.N. ambassador, says the relevant circumstances and specific causes should be ‘verified and established’

Caixin Global

In Shanghai, a long, fruitless wait for help amid COVID lockdown

The elderly woman slouched in a chair in Shanghai's cool spring weather as her three companions squabbled with police and others clad in white biohazard suits, the only people visible on a street emptied by the COVID-19 lockdown.

Reuters

Australia, UK, US Alliance to Develop Hypersonic Missiles

The United States, United Kingdom and Australia announced Tuesday they will work together via the recently created security alliance known as AUKUS to develop hypersonic missiles. The move comes amid growing concern by the US and allies about China’s growing military assertiveness in the Pacific.

Asharq Al-Awsat

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.45%

Caixin Global

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The Guardian - UK

Watching a film about communism, I realised I had been lied to as a child in China

I was taught that Mao and Lenin’s followers were always the heroes of history. This movie showed me you could view them with fear and hatred

The Times of India

Malvika passes first Chinese test, rallies to stun World No 24 in Korea Open

NAGPUR: Two months after becoming the second Indian shuttler to beat former World No. 1 Saina Nehwal since 2007, young Malvika Bansod scripted her career's second-biggest win, prevailing over World no 24 Han Yue from China in the Korea Open on Tuesday.

The Independent UK

Black boxes from China Eastern crash sent to US for analysis

Both black boxes from a passenger plane crash in southern China last month that killed 132 people are being analyzed by U.S. experts at a government lab in Washington, D

Bangkok Post

Former security chief expected to take over in Hong Kong

HONG KONG: Hong Kong’s No.2 official, John Lee, will be the only candidate in the May 8 election for the city’s top post, local media reported, as China looked to elevate one of the chief proponents of the sweeping crackdown on the local opposition.

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Asharq Al-Awsat

US Approves $95 Million Sale of Missile Defense Support to Taiwan

The US announced Tuesday it has approved the sale of up to $95 million worth of training and equipment to support Taiwan's Patriot missile defense system, something Taipei said would help protect the island from any invasion by China. "The proposed sale will help to sustain (Taiwan’s) missile density and…

The Independent UK

Shanghai to allow parents to stay with COVID-infected kids

Following a public uproar, Shanghai will allow parents to stay with children infected with COVID-19 as China's largest city sees another jump in cases

Benzinga

Tesla Battery Supplier CATL Gets Nod For Plant In Germany

China’s key battery supplier Contemporary Amperex Technology (CATL) said on Wednesday it has secured the second partial approval for the commissioning of a new plant for battery cell production in Thuringia, Germany.

The Guardian - AU

Shanghai’s ‘grim’ Covid outbreak threatens more global supply chain disruption

Lockdowns imposed over China’s worst Covid outbreak has hit manufacturing and may lead to delays and higher prices

Bangkok Post

US approves $95m sale of missile defence support to Taiwan

WASHINGTON: The United States announced Tuesday it has approved the sale of up to US$95 million worth of training and equipment to support Taiwan's Patriot missile defence system, something Taipei said would help protect the island from any invasion by China.

Asharq Al-Awsat

China Reports 20,000 Daily Covid cases

China reported over 20,000 Covid-19 cases on Wednesday, the highest daily tally given since the start of the pandemic, with Shanghai the heart of the virus surge despite being in lockdown. The country's "zero-Covid" strategy has come under immense strain as cases spike. Until March, China had kept daily cases…

Reuters

Shanghai scrambles to secure food supplies as COVID lockdown hits

Residents in the major Chinese financial centre of Shanghai, with 26 million under lockdown, scrambled to secure food on Wednesday, with supermarkets shut and deliveries restricted amid another citywide COVID-19 testing programme.

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