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The Latest Breaking News from China

Shanghai's messy COVID-19 lockdown forcing foreign workers to rethink life in China's financial hub

Shanghai authorities may be loosening one of the world's strictest lockdowns, but after weeks of uncertainty and food shortages, many foreign workers are considering leaving.

ABC News

Inflation, China competition bill to headline Biden’s stop in battleground N.C.

President Biden is expected to press for congressional action on a China competitiveness bill, arguing it would lower inflation.

Roll Call

China’s trade with Russia up by 12% in March from a year earlier

Increase outstrips 7.75% growth in China’s global trade, suggesting Beijing is maintaining strong links with Moscow

The Guardian - UK

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Top US official urges China to pressure Russia to end Ukraine war

Treasury Secretary Janet Yellen says China’s stance on Ukraine could hamper countries’ willingness to work with Beijing.

Al Jazeera

5 Top-Rated Commodity Stocks to Buy in April

Commodity prices have been rallying since Russia commenced its invasion of Ukraine due to various commodity import sanctions levied against Russia by the West in response. As global supply chain disruptions worsen due to the war and a resurgence of COVID-19 cases in China, commodity markets are expected to remain…

StockNews.com

Elon Musk, Tesla Silent On Well-Being Of Locked Down Shanghai Workers

As the Shanghai region of China enters its third week of restrictive shutdown in the wake of a COVID-19 resurgence, Tesla Inc (NASDAQ: TSLA) has offered no update on the resumption of manufacturing from its Shanghai facility, nor has it provided any word on what it is doing to assist…

Benzinga

SEC Adds Another Chinese Tech Firm To Its Provisional List After Baidu, iQIYI

Daqo New Energy Corp (NYSE:DQ) acknowledged getting identified by the U.S. SEC under the Holding Foreign Companies Accountable Act on April 12. Daqo is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Such consecutive identification for three years could lead to a company's delisting from the NYSE. Also Read: Baidu,…

Benzinga

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With Founder Fading Out, JD.com Moves to Collective Leadership

Key takeaways: JD.com’s founder Richard Liu is stepping down from his CEO role but will remain as the company’s chairman focused on long-term strategy Some analysts believe China internet companies face greater risk from regulation at home and abroad than from changes in their top ranks By Ken Lo

Benzinga

The Defense Budget Keeps Ballooning To Fund Fleeting U.S. Primacy

The proposed defense budget reaches $813 billion, and politicians still can’t think critically about how to spend it.

Reason

Alibaba Undergoes Aggressive Restructuring At Its Cloud Unit

Alibaba Group Holding Ltd (NYSE:BABA) owned Alibaba Cloud initiated a new round of organizational restructuring, the Pandaily reports. Alibaba Cloud China President Ren Geng resigned for undisclosed reasons. Geng looked to leave as early as 2021 but stayed back. Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides…

Benzinga

Yellen says China faces consequences if it fails to help stop Russia's war in Ukraine

U.S. Treasury Secretary Janet Yellen on Wednesday appealed to China to take action to help end Russia's war in Ukraine, warning in a landmark speech that Beijing's standing in the world would suffer if it fails to do so.

Reuters

How China's Zero-COVID Policy Is Taking A Toll On Its Economy

The more contagious omicron strain of COVID-19 is testing China’s zero-tolerance COVID-19 policy and while many signs underscore the strategy’s adverse impact on the country’s economic recovery, Beijing continues to stick to it, dismissing suggestions that China should learn to live with the virus as other nations do.

Benzinga

Innoviz Partners With LiDAR Sensor Supplier LiangDao Intelligence

Innoviz Technologies Ltd (NASDAQ:INVZ) has signed a strategic partnership agreement with LiDAR system supplier LiangDao Intelligence. The partnership aims to accelerate the introduction of series production solutions of high-resolution LiDAR for the Chinese market based on InnovizTwo. The parties will work together to build a complete LiDAR hardware assembly line and supply chain system…

Benzinga

Yellen: Don't help Russia evade sanctions, or else

A speech from the Treasury secretary puts Ukraine war at center of financial diplomacy.

Axios

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Benzinga

Meten Registers $1.6M Gross Billing In Q1 From Metaverse Vocational Education Courses

Meten Holding Group Ltd (NASDAQ:METX) said it raked in a gross billing of RMB10 million ($1.57 million) from its metaverse educational courses in the first quarter of fiscal 2022. Meten launched the trial of its metaverse vocational education courses in December 2021. The courses cover subjects such as video post-production, game rendering, architectural…

Reuters

India open to additional $2 billion aid for Sri Lanka with eye on China - sources

India is willing to commit up to another $2 billion in financial assistance to Sri Lanka while also supporting the island nation with food and fuel, five sources told Reuters, as New Delhi tries to regain ground lost to China in recent years.

Caixin Global

The Cost of China’s ‘Zero-Covid’ Strategy

With a new wave of Covid-19 flare-ups, the country will need to strive harder to hit its full-year GDP growth target of around 5.5%

The Guardian - UK

China’s lockdowns will help cut global oil demand, predicts IEA

Organisation lowers its oil demand forecast as Covid measures cushion impact of lost Russian flows

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Benzinga

IEA Marginally Cuts Global Oil Demand Forecast On Mired Outlook Due To China COVID-19 Lockdown, Russia-Ukraine War: FT

The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries.

Benzinga

A Peek Into The Markets: US Stock Futures Move Back Up Following High Inflation Data

Pre-open movers U.S. stock futures traded upwards in early trade after the Nasdaq Composite index closes at 13,371.57, a marginal dip of around 40 points. After witnessing a dip in the first two days of the week, stock futures are inching towards recovery.

Benzinga

Blackrock To Introduce Its First China ETF In 2022: Reuters

According to two people with close knowledge of the matter, BlackRock, Inc. (NYSE: BLK) plans to launch its first product in China's $220 billion onshore exchange-traded funds (ETF) market later this year and has started hiring accordingly.

Caixin Global

China Is Running 70% Fewer Passenger Trains Than ‘Normal,’ Operator Says

Only about 3,000 trains are operating daily due to the suspension of many services from regions hit hard by Covid-19 outbreaks

Caixin Global

Large-Scale Lockdowns Could Take a Heavy Toll on China’s Economy, Study Says

A month-long closure of the country’s four largest cities could shrink national GDP by 8.6% for the period, economists predict

The Guardian - AU

US military leader warns Chinese security deal with Solomon Islands sounds ‘too good to be true’

General David Berger raises concerns about Chinese influence while Australia’s Pacific minister asks Solomon Islands ‘to consider not signing agreement’

Reuters

China trying out reduced quarantine for some groups in eight cities - media

China is trying out reduced quarantine times for overseas arrivals and close contacts of positive cases in eight cities, in a potential easing of some of the world's most stringent pandemic entry controls, financial media outlet Caixin reported.

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