The Latest Breaking News from China

Goodyear Q1 Earnings Beat Estimates Aided By Cooper Tire, Pricing Actions

Goodyear Tire & Rubber Co (NASDAQ:GT) reported first-quarter FY22 net sales growth of 39.8% year-on-year to $4.91 billion, beating the consensus of $4.65 billion. Cooper Tire merger, improvements in price/mix, higher volume, and increased sales from other tire-related businesses drove the growth. Sales in the Americas rose 63% Y/Y, Europe, Middle East &…

Benzinga · May 6, 2022

Asian Games in China postponed due to spike in coronavirus cases

A rise in cases of coronavirus in China has forced the Olympic Council of Asia to postpone the Asian Games and cancel the Asian Youth Games

Daily Mirror · May 6, 2022

Chinese Analyst Who Projected Bearish Reports On Alibaba And Other Chinese Stocks Returns To Twitter

The former China strategist at Bocom International Holdings was active again on Twitter, Inc (NYSE:TWTR) with a forecast on the Nasdaq index, just days after he exited the state-owned brokerage following a ban by Chinese social media, Bloomberg reports. Hong Hao posted a chart on Twitter that compared the Nasdaq's bubble in 2000 to its…

Benzinga · May 6, 2022

US Regulators Reach China For Audit Deal Discussions: Reuters

U.S. regulatory officials arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, Reuters reported, citing sources. The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the SEC added over 80 firms to the list of companies…

Benzinga · May 6, 2022

Taiwan Jets Scramble as China Air Force Enters Air Defense Zone

Taiwan's air force scrambled on Friday to warn away 18 Chinese aircraft that entered its air defense zone, Taiwan's defense ministry said, part of what is a regular pattern of incursions that has angered the government in Taipei. Taiwan, claimed by China as its own territory, has complained of repeated…

Asharq Al-Awsat · May 6, 2022

Vice President Wang Qishan to Attend South Korean President’s Inauguration

A special representative and close aide of President Xi Jinping, Wang will lead a delegation to Seoul at the invitation of the South Korean government

Caixin Global · May 6, 2022

Tesla Will Run Two Shifts At Shanghai Plant From May 16

Tesla, Inc (NASDAQ:TSLA) looks to run two shifts at its Shanghai plant from May 16, Reuters reports. The additional shift would enable the EV maker to return factory output to pre-lockdown levels. Tesla aims to churn out 2,600 electric cars from the Shanghai plant per day. Also Read: Tesla Shanghai Workers Forced To…

Benzinga · May 6, 2022

IHG Hotels & Resorts On Way To Recovery As Travel Booms

InterContinental Hotels Group PLC (NYSE:IHG) IHG Hotels & Resorts said its first-quarter revenue per room neared pre-pandemic levels. Rise in demand for hotel stays in the U.S. spring break has lifted occupancy rates, Reuters reported. Q1 RevPAR, or revenue per available room, was up 61% over the same period in 2021, reaching 82% of the…

Benzinga · May 6, 2022

Taiwan jets scramble as China air force enters air defence zone

Taiwan's air force scrambled on Friday to warn away 18 Chinese aircraft that entered its air defence zone, Taiwan's defence ministry said, part of what is a regular pattern of incursions that has angered the government in Taipei.

Reuters · May 6, 2022

China travel, tourism 'unlikely to improve materially' as coronavirus curbs hit Labour Day holiday

HONG KONG: Travel and tourism spending plunged during China's Labour Day holiday due to coronavirus lockdowns and restrictions rolled out across the country, with the "situation unlikely to improve materially in May", analysts said.

Bangkok Post · May 6, 2022