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The Latest Breaking News from China

China accuses US, UK and Australia of trying to build Asia-Pacific NATO

China says the recently created AUKUS security alliance and its pursuit of hypersonic weapons risks undermining peace and stability in the Asia-Pacific.

ABC News

Tesla's Shanghai Factory Remains Closed Amid Covid-19 Surge

Tesla Inc (NASDAQ:TSLA) factory shutdown has stretched out to at least 12 days as Shanghai's Covid-19 lockdown disrupts businesses in China's financial hub, Bloomberg reports. The factory lockdown, which began on March 28, will remain closed through Thursday, making Tesla lose 12 days of production in recent weeks. The most sought-after semiconductors are…

Benzinga

Shanghai extends Covid-19 lockdown as Omicron cases soar

Shanghai’s lockdown was due to end in four days but it has since been extended due to the speed of Omicron spread in China’s economic capital. FRANCE 24 reports.

France 24

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Dingdong, Missfresh Surge on Booming Business During Covid Lockdowns

Key Takeaways: Investors may be growing more bullish on Dingdong and Missfresh as recent Covid-related lockdowns drive more consumers to buy groceries online Both companies trade at relatively low valuations, even after big stock gains this week, as analysts remain bullish on the pair By Doug Young

Benzinga

Dental Doctor All Smiles in IPO Bid, But New Policy Could Bring Financial Toothaches

Key takeaways:

Benzinga

Why Tesla Shares Are Tapping The Brakes Today

Tesla Inc (NASDAQ: TSLA) shares are trading lower Wednesday. Weakness appears to be related to overall market concerns amid economic uncertainty as well as concerns in China.

Benzinga

Australian spy chiefs meet with Solomon Islands PM Sogavare over draft security deal with China

Two of Australia's top intelligence chiefs have quietly travelled to Solomon Islands to meet Prime Minister Manasseh Sogavare and raise the Morrison government's deep concerns over the country's planned security agreement with China.

ABC News

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To understand why Biden extended tariffs on solar panels, take a closer look at their historical impact

President Joe Biden extended tariffs on imported solar panels in February 2022 in a bid to protect domestic manufacturing. These tariffs add a 14%-15% tax on cheaper imports, raising their cost in the U.S. At the same time, the Biden administration is urging an expansion of renewable energy and energy…

The Conversation

Citi Slashes Alibaba's Price Target By 12% As COVID Resurgence Looks To Dampen Growth

Citi analyst Alicia Yap lowered the price target on Alibaba Group Holding Ltd (NYSE:BABA) to $177 from $200 (59.5% upside) and kept a Buy rating on the shares. Amid the widening spread of COVID cases and city lockdowns, the analyst thinks overall economic activities in China have been negatively affected, which has drained Alibaba's profit…

Benzinga

The Daily Biotech Pulse: BioXcel's Igalmi Gets FDA Nod, Citius Spikes On Positive Phase 3 Data, Iovance Receives Positive Regulatory Feedback For Skin Cancer Therapy

Here's a roundup of top developments in the biotech space over the last 24 hours.

Benzinga

CATL To Open 8 GWh Battery Cell Plant In Germany Later This Year

Expected to employ 1,500 people when it opens before the end of 2022, CATL's new battery cell plant is its first one outside China.

InsideEVs

China relies on traditional medicine to fight COVID surge in Shanghai

Shanghai is distributing to residents millions of boxes of traditional Chinese medicine (TCM), such as herbal products and flu capsules, which it says can treat COVID-19 in the battle to control its largest virus outbreak.

Reuters

Explainer-Hong Kong No. 2 official announces bid for leadership election

Hong Kong's deputy leader, former police officer John Lee, announced on Wednesday that he plans to run for the city's top job, which could see Beijing signing off on the first security official to run the global financial hub.

Reuters

China calls for probe into Bucha killings, assigns no blame

China says the reports and images of civilian deaths in the Ukrainian town of Bucha are “deeply disturbing" but that no one should be blamed until all facts are know

The Independent UK

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Caixin Global

Eleven Cities Join China’s Digital Yuan Pilot Program

The PBOC says the trials have so far highlighted issues related to convenience, security and compliance

The Independent UK

Australia and India thank Quad for new free trade deal

India and Australia’s trade ministers say a shared security partnership with the United States and Japan has helped them strike a trade deal that Australia hopes will reduce its dependence on exports to China

The Guardian - AU

Mark McGowan condemns ‘morons’ for displaying ads outside his home linking Labor with China

Trucks with ads showing the Chinese president voting for Labor have been seen across Australia this week

Reuters

U.S. consulate staff in China help Marines running low on rations

Generous colleagues helped out seven U.S. Marines at the U.S. consulate in Shanghai who were running out of fresh food because of a strict coronavirus lockdown, according to posts in private consulate message groups.

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Caixin Global

China U.N. Envoy Calls for Probe Into ‘Deeply Disturbing’ Incidents of Civilian Deaths in Bucha, Ukraine

Zhang Jun, China’s U.N. ambassador, says the relevant circumstances and specific causes should be ‘verified and established’

Reuters

In Shanghai, a long, fruitless wait for help amid COVID lockdown

The elderly woman slouched in a chair in Shanghai's cool spring weather as her three companions squabbled with police and others clad in white biohazard suits, the only people visible on a street emptied by the COVID-19 lockdown.

Asharq Al-Awsat

Australia, UK, US Alliance to Develop Hypersonic Missiles

The United States, United Kingdom and Australia announced Tuesday they will work together via the recently created security alliance known as AUKUS to develop hypersonic missiles. The move comes amid growing concern by the US and allies about China’s growing military assertiveness in the Pacific.

Caixin Global

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.45%

The Guardian - UK

Watching a film about communism, I realised I had been lied to as a child in China

I was taught that Mao and Lenin’s followers were always the heroes of history. This movie showed me you could view them with fear and hatred

The Times of India

Malvika passes first Chinese test, rallies to stun World No 24 in Korea Open

NAGPUR: Two months after becoming the second Indian shuttler to beat former World No. 1 Saina Nehwal since 2007, young Malvika Bansod scripted her career's second-biggest win, prevailing over World no 24 Han Yue from China in the Korea Open on Tuesday.

The Independent UK

Black boxes from China Eastern crash sent to US for analysis

Both black boxes from a passenger plane crash in southern China last month that killed 132 people are being analyzed by U.S. experts at a government lab in Washington, D

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