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The Latest Breaking News from China

Covid-19: China confronts dilemma of lockdown in Beijing as cases hit record high

Chinese authorities are seriously considering imposing a lockdown in Beijing as confirmed cases of Covid-19 in the country's capital topped 100 on Wednesday. But after a much-criticised month-long lockdown in Shanghai, such an option could have a very high economic and political cost.

France 24

Scholz says Germany seeks closer ties with Indo-Pacific

German Chancellor Olaf Scholz says his country wants to strengthen ties with countries in the Indo-Pacific region that share the same values, and work together to end Russia’s aggression in Ukraine

The Independent UK

Why A O Smith Shares Are Sliding Today

A O Smith Corp (NYSE:AOS) reported first-quarter FY22 sales growth of 27% year-over-year to $978 million, beating the consensus of $967.05 million. Adjusted EPS improved 31% Y/Y to $0.77, beating the consensus of $0.75. Gross margin contracted 260 bps to 35%. North America segment sales rose 32% to $730.1 million, driven by…

Benzinga

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Video-Minded Vobile Nears Major Purchase to Boost Growing China Business

Key Takeaways: Video services company Vobile said it has secured funding for its $127 million purchase of China-based Particle Technology Company’s stock trades at a premium to peers due to its strong profitability and deepening focus on the fast-growing China market By Christina Meng

Benzinga

Survey: Americans increasingly see China as a threat

Americans are increasingly seeing China as a world superpower and a threat, though growing numbers see it more as a competitor than an enemy

The Independent UK

Baidu Aims To Expand Robotaxi Service By 2025; Looks To Become Profitable In 3 Years

Search giant Baidu, Inc (NASDAQ:BIDU) plans to deploy cars without humans behind the wheel on Chinese roads for the first time, Bloomberg reports. Baidu looks to expand Apollo Go into 65 cities across China by 2025 and 100 cities by 2030. The ride-hailing platform currently has about 300 cars nationwide, with each vehicle…

Benzinga

Merck Clocks 50% Q1 Sales Growth Boosted By COVID-19 Treatment, Tightens FY22 EPS Outlook

Merck & Co Inc's (NYSE:MRK) Q1 sales reached $15.90 billion, +50% Y/Y, beating the consensus of $14.68 billion. Excluding the foreign exchange impact, revenues were up 52%. Pharmaceutical sales increased 53% to $14.11 billion, primarily driven by molnupiravir, oncology, vaccines, and hospital acute care products. Pharmaceutical sales growth, excluding Lagevrio sales, was…

Benzinga

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Wang Tao: How China’s Covid Lockdowns Will Impact Its Economy

Beijing may fine-tune its Covid policy gradually if met by staunch public resistance or severe economic losses, but when and how this change could occur remains the biggest macro uncertainty

Caixin Global

Tech Under Pressure? Samsung Warns Of Macro Risks Persisting Through The Year

The tech space has spearheaded the market sell-off seen since the start of the year, as evident from the more than 20% drop for The Invesco QQQ Trust (NASDAQ: QQQ) in the year-to-date period.

Benzinga

Pakistan: Woman suicide bomber change in Baloch rebels’ strategy?

Shari Baloch blowing herself up to kill three Chinese nationals making analysts wonder if rebels are changing tactics.

Al Jazeera

Home Affairs Minister rejects Labor's request for intelligence briefing following 'political interference' comments

Home Affairs Minister Karen Andrews dismisses demands from the Labor Party for an urgent intelligence briefing on the controversial security pact between China and Solomon Islands, after yesterday alleging the deal could have been timed to hurt the Coalition's electoral chances.

ABC News

Airbus Steps Up Monitoring Chinese Supply Chain: Reuters

Airbus SE (OTC:EADSY) is tightening monitoring of its Chinese supply chain following the increased disruption caused by recent pandemic lockdowns, Reuters reported, citing Airbus Chief Executive Guillaume Faury. "The whole worldwide supply chain is complicated at the moment," he mentioned at a news briefing in his capacity as head of France's Gifas…

Benzinga

Chinese city cancels flights and launches mass testing after one suspected Covid case

The city of Guangzhou has now begun mass testing of its 5.6 million residents as the country struggles to contain the virus

Irish Mirror

Analysis-Complex web of creditors, politics threatens Sri Lanka restructuring

Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka's push for a swift overhaul of its $12 billion overseas debt, analysts warn, saying the South Asian nation is fast running out of road.

Reuters

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The Guardian - AU

Beijing halts weddings and funerals and closes schools in Covid fightback

Stockpiling rife as city acts in attempt to avoid Shanghai-style lockdown

Asharq Al-Awsat

Iran Wants to Expand Strategic Ties with China to Confront US

Iranian President Ebrahim Raisi said Tehran wanted to “expand its long-term strategic relations” with China at a meeting with Beijing’s Defense Minister Wei Fenghe in Tehran on Wednesday. Raisi told Fenghe that Tehran sees its ties with Beijing as strategic. Closer cooperation would serve to confront what the Iranian president…

Caixin Global

Shanghai Composite Index Rose 0.58% on Thursday

Shenzhen Component Index closed down 0.23%

The Independent UK

China grants first driverless taxi permits to Baidu, Pony.ai

Chinese internet services company Baidu has received a permit to provide driverless ride-hailing services to the public in Beijing, one of just two companies to receive such approvals

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Reuters

Factbox-China's zero-COVID policy in numbers

China is facing the biggest test yet of its draconian approach to COVID-19, with a lockdown for most people in Shanghai for more than a month crippling the commercial capital and Beijing scrambling to contain an outbreak and avert a similar crisis.

The Guardian - UK

Portable Magic by Emma Smith review – a love letter to reading

From ancient China to Marilyn Monroe – this fascinating history celebrates the joy of ‘bookhood’

Daily Record

Dumfries Museum explores region's connections with China and Japan in new exhibition

Some beautiful and intriguing objects from East Asia have gone on display at the refurbished museum, including paintings, silks, books, shoes and vases

Asharq Al-Awsat

Oil Falls as China Fuel Demand Concerns Linger

Oil prices dropped on Thursday as investor remained cautious about dwindling fuel demand in China, the world's biggest oil importer, due to COVID-19 restrictions. Brent crude futures fell $1.48, or 1.41%, to $103.84 a barrel by 0426 GMT.

The Guardian - AU

Australia’s foreign minister denounces China’s ‘secret’ security deal with Solomon Islands

Marise Payne says other members of the ‘Pacific family’ share concerns but she rejects claims her government ‘dropped the ball’ in the region

Al Jazeera

Civil defence is trending in Taiwan after Ukraine war

Taiwanese know how to prepare for natural disasters, but now some want to equip themselves for war.

Al Jazeera

Once bound by trade, China-EU honeymoon sours over Ukraine war

China’s support for Russia has forced the bloc to reassess relationship that has long been centred on economics.

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