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The Latest Breaking News from Shanghai

As Lockdown Lifts, Shanghai Swarmed With Termites

Annual efforts to eradicate the property-damaging pests were disrupted by measures to control the city’s Covid-19 outbreak

Caixin Global

Shanghai euphoria tempered by deep wound to China's economy

Hangzhou (China) (AFP) - Orders have evaporated at Zhou's textile company based just outside Shanghai, a city now stumbling free from a two-month lockdown that has left small businesses on life support.

AFP

Shanghai starts coming back to life as COVID lockdown eases

Traffic, pedestrians and joggers are reappearing on the streets of Shanghai as China’s largest city begins returning to normalcy after a strict two-month COVID-19 lockdown that drew protests over its heavy-handed implementation

The Independent UK

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Zhang Wenhong: The Unprecedented Omicron Challenge That Hit Shanghai

A comparison of data shows that the death rate among the vaccinated is far lower than that the unvaccinated, so protecting vulnerable groups must be the priority

Caixin Global

Oil Prices Nudge Higher on EU's Russian Oil Ban, End of Shanghai Lockdown

Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude for August delivery was up 28 cents, or 0.2%, at $115.88 a barrel at 0338 GMT.

Asharq Al-Awsat

Shanghai revives after two-month COVID lockdown, wary of a new one

Shanghai sprung back to life on Wednesday after two months of bitter isolation under a ruthless COVID-19 lockdown, with shops reopening and people going back to offices, parks and markets, hoping to never go through a similar ordeal again.

Reuters

Shanghai eases Covid curbs in step towards ending lockdown

Shanghai (AFP) - Shanghai whirred back to life Wednesday as a range of Covid-19 restrictions were eased and thousands took to the streets after a two-month lockdown that confined residents to their homes and battered the Chinese economy.

AFP

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Shanghai celebrates ‘new start’ after COVID restrictions eased

People venture out after two months stuck at home, but virus-related controls including regular tests will continue.

Al Jazeera

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

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

Cuba scraps masks, Shanghai lockdown ends

Residents of China’s financial hub Shanghai have celebrated after a two-month COVID-19 lockdown ended while Cuba has scrapped its mask mandate.

Crikey

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

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

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

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Reuters

After two months, a scarred Shanghai's COVID-19 lockdown ends

Benzinga

Germany's Merck To Launch Semiconductor Base In China

German semiconductor supplier of chemicals and materials Merck KGaA (OTC:MKKGY) forged a contract with local authorities to open a semiconductor base in China's Zhangjiagang, Reuters reports. The new 69-acre base will house production plants for thin-film materials and electronic specialty gasses, warehouses, and operation centers. Previously Merck disclosed plans to invest at least…

Evening Standard

Shanghai moves towards ending two-month Covid lockdown as restrictions ease

Officials in Shanghai have announced plans to reopen China’s largest city on Wednesday following a two-month Covid lockdown.

The Street

Stocks Lower As Inflation Roars, Week Ahead, Oil, Tesla and Top Gun - Five Things You Must Know

Stock futures lower as inflation fears resurface; Week Ahead: jobs data in focus as earnings peter out; Oil prices leap after EU agrees ban on seaborne Russian crude; Tesla shares higher as Shanghai lockdown nears end and AMC shares leap as Top Gun: Maverick has record memorial day weekend

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AFP

Shanghai prepares to lift more Covid curbs after lengthy lockdown

Shanghai (AFP) - Shanghai authorities said Tuesday they will lift more restrictions in steps to return the Covid-hit city to normality, after two months of heavy-handed restrictions that throttled businesses and locked down residents.

WEKU

Shanghai eases into gradually reopening from its COVID-19 lockdown

China's largest city and global financial hub plans to restore mass transit and gradually reopen schools

Caixin Global

Shanghai Composite Index Rose 1.19% on Tuesday

Shenzhen Component Index closed up 1.92%

The Guardian - UK

UK credit card borrowing soars by most since 2005 as mortgage approvals slide – as it happened

Number of UK mortgages approved hit two-year low in April, as consumers spend more on credit as inflation rises

The Independent UK

China manufacturing improves as virus curbs eased

An official survey shows Chinese manufacturing activity started to rebound in May after the government eased anti-virus restrictions that shut down Shanghai and other industrial centers

The Independent UK

Shanghai moves toward ending 2-month COVID-19 lockdown

Shanghai authorities say they will take some major steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has throttled the national economy and largely bottled up millions of people in their homes

Reuters

'Hard to believe it's actually happening': Shanghai to lift COVID lockdown

Shanghai authorities on Tuesday began dismantling fences around housing compounds and ripping police tape off public squares and buildings before the lifting of a two-month lockdown in China's largest city at midnight.

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