The Latest Breaking News from China

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 · May 31, 2022

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 · May 31, 2022

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 · May 31, 2022

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…

Asharq Al-Awsat · May 31, 2022

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

The Guardian - AU · May 31, 2022

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 - AU · May 31, 2022

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

The Guardian - UK · May 31, 2022

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 · May 31, 2022

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 · May 31, 2022

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…

Benzinga · May 31, 2022