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The Latest Breaking News from Shanghai

COVID-hit Shanghai heads for lockdown exit but China still lost in economic gloom

Pandemic-hit Shanghai, China's financial hub, unveiled more post-lockdown plans on Thursday as it moves towards a return to normalcy, but a nationwide economic recovery is still a distance away, heightening a sense of urgency for more support.

Reuters

China Premier Issues Warning on Covid-hit Economy

China's premier has sounded an unusually stark warning about the world's second-largest economy, saying it must return to normal as the country's zero-Covid strategy bites into growth. China is the last major economy welded to a policy of mass testing and rapid lockdowns to eliminate virus clusters, but the strict…

Asharq Al-Awsat

Alibaba's Overseas Growth Push Gets Critical To Beat Domestic Slowdown

Alibaba Group Holding Limited's (NYSE:BABA) hunt for overseas growth is critical to offset sluggish demand at home by expanding in Europe through its Southeast Asian offshoot, Lazada, Reuters reports. Lazada plans to target local European vendors, while Alibaba's existing global platform, AliExpress, will continue to focus mainly on cross-border sales from China. However, the…

Benzinga

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New Photos Show Shanghai Disneyland's Derelict State After 2 Months Of Closure

New photographs have emerged online that show parts of the Walt Disney Co.’s (NYSE: DIS) theme park in Shanghai turning in a weed-choked mess since being shuttered two months ago at the start of a pandemic lockdown.

Benzinga

What Does The Recent String Of Tesla Price Target Cuts Suggest?

As Tesla, Inc. (NASDAQ: TSLA) stock tumbled to a 10-month low, bullish sell-side analysts who had rallied behind the company and saw it as one waiting to explode began to backtrack.

Benzinga

Apple’s iPhone Development Schedule Delayed by China Lockdowns, Says Nikkei

Apple Inc has told its suppliers to speed up iPhone development after China's strict COVID-19 lockdowns hampered schedule for at least one of the new phones, Nikkei reported on Wednesday, citing multiple sources with knowledge of the matter. Lockdowns due to China's zero-COVID policy led iPhone assembler Pegatron Corp to…

Asharq Al-Awsat

Shanghai: world's biggest port is returning to normal, but supply chains will get worse before they get better

Shanghai is slowly emerging from a gruelling COVID lockdown that has all but immobilised the city since March. Although Shanghai’s port, which handles one-fifth of China’s shipping volumes, has been operating throughout, it has been running at severely reduced capacity. Many shipments have either been cancelled, postponed or rerouted to…

The Conversation

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This Auto Giant Cuts Production Plans Citing Parts Shortage - Read More For Details

Toyota Motor Corp (NYSE:TM) plans to cut global production by about tens of thousands of units to roughly 850,000 vehicles in June due to the semiconductor shortage. The auto major expects to produce 9.7 million units for the full period of the fiscal year 2023. The average global production plan from June through…

Benzinga

Brit couple face being forced to leave China without baby girl in passport fiasco

Callum and his wife Neelam, who are both teachers, are currently living in Shanghai where they welcomed their baby daughter Isabelle in February.

Daily Record

Shanghai Composite Index Fell 2.41% on Tuesday

Shenzhen Component Index closed down 3.34%

Caixin Global

Covid-19: How 'fear of punishment' is keeping large parts of Shanghai in lockdown

SHANGHAI: Shanghai has been officially easing a lockdown that kept its 25 million residents home-bound for nearly two months following a decline in Covid-19 cases, but an army of zealous grassroots volunteers who police housing compounds are still banning many people from going outside.

The Times of India

Beijing ramps up COVID quarantines, Shanghai residents decry uneven rules

Beijing stepped up quarantine efforts to end its month-old COVID outbreak as fresh signs of frustration emerged in Shanghai, where some bemoaned unfair curbs with the city of 25 million preparing to lift a prolonged lockdown in just over a week.

Reuters

China: Tesla Has Produced 26,000 EVs Since Production Resumed

The Tesla Giga Shanghai plant in China is gradually ramping-up production and already appears to be approaching half of its pre-lockdown output.

InsideEVs

Tesla Giga Shanghai May Remain In Closed-Loop System Until Mid-June

EV maker is also trying to start a second shift at the plant as soon as this week so that car production can resume operating around the clock.

InsideEVs

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Reuters

Beijing extends work-from-home 'requirement' for millions as COVID spreads

The Chinese capital extended its work-from-home requirement for many of its 22 million residents to stem a COVID-19 outbreak, while Shanghai deployed more testing and curbs to hold on to its hard-won "zero COVID" status after two months of lockdown.

Bangkok Post

Time to move on from Zero Covid

It's finally time for Shanghai residents to breathe easier and feel a greater sense of freedom. After nearly two months of lockdown, the commercial hub of 25 million started to allow more people to go out to buy groceries for the first time last Thursday after a fifth straight day…

Reuters

Shanghai reopens some public transport, still on high COVID alert

Shanghai reopened a small part of the world's longest subway system on Sunday after some lines had been closed for almost two months, as the city paves the way for a more complete lifting of its painful COVID-19 lockdown next week.

Reuters

Shanghai district to require all shops to shut, residents to stay home

Shanghai's central Jingan district, a key commercial area of the Chinese financial hub, said on Saturday it will require all supermarkets and shops to shut and residents to stay home until at least Tuesday.

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Daily Mirror

Parents fear they'll be forced to leave baby girl in China after passport delay

The couple had their hopes dashed when Shanghai went into lockdown in April to curb a new wave of coronavirus infections and postal services were suspended

Reuters

Shanghai makes way towards COVID lockdown exit, Beijing plays defence

Shanghai cautiously pushed ahead on Saturday with plans to restore part of its transport network in a major step towards exiting a weeks-long COVID-19 lockdown, while Beijing kept up its defences in an outbreak that has persisted for a month.

Benzinga

As Omicron Subsides, Dada Nexus Could Be Riding Into E-Commerce Gilded Era

Key takeaways: • Dada Nexus’ revenue grew strongly in the first quarter, after excluding the impact of a change to the way it pays riders for certain delivery services

Benzinga

Shanghai Starts Lifting Lockdown: What Is Tesla Going To Do With Its Employees?

Shanghai is emerging out of a six-week lockdown, although the easing of restrictions is being implemented gradually. Tesla Inc (NASDAQ: TSLA) has planned to take a measured approach with respect to Giga Shanghai reopening, according to a report.

Caixin Global

CanSino Shares Jump After WHO Gives Nod to Its Covid-19 Vaccine

Tianjin-based company’s stock closes up 12.14% in Shanghai and 9.78% in Hong Kong

Caixin Global

Shanghai Composite Index Rose 1.6% on Friday

Shenzhen Component Index closed up 1.82%

Reuters

Locked-down Shanghai finds new cases, breaking "zero COVID" streak

Shanghai announced its first new COVID-19 cases outside quarantined areas in five days on Friday and imposed stricter curbs in two districts, but did not signal any change to the planned end of a prolonged city-wide lockdown on June 1.

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