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The Latest Breaking News from China

Shanghai revives after two-month COVID lockdown, wary of a new one

Shanghai sprung back to life on Wednesday after two months of bitter isolation under a ruthless COVID-19 lockdown, with shops reopening and people going back to offices, parks and markets, hoping to never go through a similar ordeal again.

Reuters

Gadgets: iQOO Neo6 launched globally with Snapdragon 870 chipset

The iQOO Neo6 and iQOO Neo6 SE have been launched in China and are now making their way across the world. Read more on Dynamite News:

Dynamite News

Global factory growth stunted by war, China's COVID curbs

Global growth in factory activity slowed in May as China's strict coronavirus curbs and Russia's invasion of Ukraine disrupted supply chains and dampened demand, adding to woes for businesses already struggling with surging raw material prices.

Reuters

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China says it conducted 'readiness patrol' around Taiwan

The Chinese military said on Wednesday it had conducted a combat "readiness patrol" in the seas and airspace around Taiwan in recent days, saying it was a necessary action to respond to "collusion" between Washington and Taipei.

Reuters

Li Keqiang: China’s sidelined premier back in the limelight

China’s No 2 has kept a low profile for most of his time in office but his re-emergence could signal deeper schisms.

Al Jazeera

In Taiwan, Sen. Duckworth pitches Illinois business; pledges security support as China threat looms

The Chinese government is blasting Sen. Tammy Duckworth’s visit to Taiwan as it steps up its threats against the island it claims.

Chicago Sun-Times

Pacific 'front and centre' of priorities

China's position paper on areas of co-operation with Pacific island nations has raised concerns for Australia and its allies, as well as regional leaders.

AAP

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Xi Vows That China ‘Will Always Be a Good Friend’ of Pacific Island Countries

Chinese president makes comment in written address to China-Pacific foreign ministers following U.S. President Joe Biden’s Asia tour

Caixin Global

Shanghai celebrates ‘new start’ after COVID restrictions eased

People venture out after two months stuck at home, but virus-related controls including regular tests will continue.

Al Jazeera

Celebrations at midnight as Shanghai reopens after draconian two-month COVID-19 lockdown

Small groups have gathered in Shanghai's former French Concession neighbourhood at midnight, whistling, shouting "ban lifted" and clinking glasses of champagne.

ABC News

Who is Fanbo Zeng? Sacramento Kings scout China’s top NBA draft prospect at pro day event.

Kings owner Vivek Ranadive and general manager Monte McNair went to the CAA pro day workout in Southern California last week to watch projected top-10 NBA draft prospects Jaden Ivey and AJ Griffin.

Tribune News Service

China Youth Unemployment Crisis Leaves Tens of Millions Jobless

Covid lockdowns and the government campaign to rein in private tutoring and tech companies have made positions even harder to come by.

Businessweek

In Search of Profits, Q&A Site Zhihu Finds New Answer in Vocational Education

Key Takeaways: Zhihu’s revenue grew 55.4% in the first quarter, but its adjusted net loss grew by an even bigger 89.8% Company’s vocational education services could be a major new growth engine, as China encourages private sector investment in the area By Christina Meng

Benzinga

U.S. will again urge U.N. sanctions if North Korea carries out nuclear test

The United States will again push for more U.N. sanctions on North Korea if it carries out a seventh nuclear test, despite opposition by China and Russia, U.S. Ambassador to the United Nations Linda Thomas-Greenfield said on Tuesday.

Reuters

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Benzinga

Analysts Slash Price Target On This Home Furnishing Retailer - Read Why

Telsey Advisory Group analyst lowered the price target on RH (NYSE:RH) to $400 (35% upside) from $510 and maintained an Outperform rating on the shares. The analyst said there was a broader deceleration in demand for home furnishings but has been more evident at low and mid-tier priced retailers. The analyst believes RH has had…

Reuters

New Zealand, U.S. reiterate concern over China-Solomon Islands security deal

U.S. President Joe Biden and New Zealand Prime Minister Jacinda Ardern on Tuesday raised concerns about a security agreement between China and the Solomon Islands, the White House said.

Asharq Al-Awsat

After Two Months, a Scarred Shanghai’s COVID-19 Lockdown Ends

Following two months of frustration, despair and economic loss, Shanghai's draconian COVID-19 lockdown ended at midnight on Wednesday morning, prompting celebrations tempered with fear that an outbreak could return. Most of Shanghai's 25 million residents can now freely leave home, return to work, use public transport and drive their cars…

The Guardian - AU

The sheer size of the China trading relationship is why Australia has to share its feasts and famines with Beijing

Facing economic difficulties, China is prioritising self-sufficiency and reduced dependence on Australian raw materials

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The Guardian - AU

Bumper Australian crops unlikely to provide relief at the cash register

Despite farmers planting a record 24m hectares this year, higher fuel and fertiliser costs mean produce prices will remain high

The Guardian - UK

The Guardian view on the UN in Xinjiang: a grave error

Editorial: The UN human rights chief, Michelle Bachelet, failed to adequately address terrible abuses in the region

Benzinga

ATRenew Starts the Year Off Strong, Braces for Covid Impact

Key Takeaways: ATRenew‘s revenue rose 45.7% in the first quarter to 2.2 billion yuan as both product and service revenues recorded strong gains Company could benefit over the longer term from the rollout of China’s first guidelines for used electronics refurbishment by the city of Shenzhen in April

Benzinga

Chinese yuan rebounds on Shanghai reopening hopes

The Chinese yuan rose to one-week highs on Monday, fueled by expectations that Shanghai, the country’s financial hub, will soon emerge from a two-month lockdown that has crippled economic activities in the city and weighed on the country’s overall economic recovery.

Benzinga

Huazhu Group Stock Gains On Q1 Earnings Beat

Huazhu Group Ltd (NASDAQ:HTHT) reported a first-quarter FY22 sales growth of 15.2% year-on-year to $423 million, beating the consensus of $378.25 million. The occupancy rate for all legacy-Huazhu hotels in operation was 59.2%, down 700 basis points Y/Y. Blended RevPAR (revenue per available room) was RMB132 versus RMB138 the previous year. The operating…

Reuters

After two months, a scarred Shanghai's COVID-19 lockdown ends

Benzinga

Germany's Merck To Launch Semiconductor Base In China

German semiconductor supplier of chemicals and materials Merck KGaA (OTC:MKKGY) forged a contract with local authorities to open a semiconductor base in China's Zhangjiagang, Reuters reports. The new 69-acre base will house production plants for thin-film materials and electronic specialty gasses, warehouses, and operation centers. Previously Merck disclosed plans to invest at least…

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