The Latest Breaking News from China

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 · Apr 28, 2022

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 · Apr 28, 2022

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 · Apr 28, 2022

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 · Apr 28, 2022

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 · Apr 28, 2022

Beijing halts weddings and funerals and closes schools in Covid fightback

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

The Guardian - AU · Apr 28, 2022

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…

Asharq Al-Awsat · Apr 28, 2022

Shanghai Composite Index Rose 0.58% on Thursday

Shenzhen Component Index closed down 0.23%

Caixin Global · Apr 28, 2022

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

The Independent UK · Apr 28, 2022

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.

Reuters · Apr 28, 2022