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The Latest Breaking News from Shanghai

Oil Prices Edge Up on China Demand Recovery Expectations, Tight Stocks

Oil prices edged up on Wednesday on expectations that easing COVID-19 restrictions in China will push up demand and as industry data showed drawdowns in US crude inventories. Brent crude was up 23 cents, or 0.2%, at $112.16 a barrel at 0633 GMT, while US West Texas Intermediate (WTI) crude…

Asharq Al-Awsat

Shanghai Composite Index Fell 0.25% on Wednesday

Shenzhen Component Index closed down 0.2%

Caixin Global

'Huge' pressure for Shanghai to stay COVID-free as lockdown end nears

Health authorities in Shanghai faced "huge" pressure to keep China's most populous city free of COVID-19 as residents were counting down the days until June 1 when their lockdown is set to end after almost two months of isolation.

Reuters

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Explainer: Is Thai supply chain anchored to China?

China's Covid containment measures, especially in the world's largest port city of Shanghai, have influenced Thailand's supply chain security and could cast a shadow on local manufacturers' decisions in the medium term.

Bangkok Post

Stocks rally on Shanghai reopening hopes

London (AFP) - Hong Kong led a rally across stock markets Tuesday on hopes that China's economic engine Shanghai will ease its weeks-long lockdown and gradually reopen businesses.

AFP

Shanghai Says It Has Stopped Community Spread of Covid

The milestone fulfills a key condition for completely lifting a weeks-long lockdown that has sparked public anger, battered business

Caixin Global

Asian stocks rally on hopes of Shanghai gradually reopening

Hong Kong (AFP) - Hong Kong led a rally across Asian markets Tuesday on hopes that China's economic engine Shanghai will ease its weeks-long lockdown and gradually reopen businesses, though analysts cautioned there may be little long-term relief.

AFP

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Beijing locks down more people in China's 'zero-COVID' fight

Authorities in Beijing are restricting more residents to their homes in a now 3-week-long effort to control a small but persistent COVID-19 outbreak in the Chinese capital

The Independent UK

Factbox-COVID-hit Chinese cities seek exit from painful lockdown

Plans by COVID-hit Chinese cities to exit or avoid lockdown are more fraught and uncertain than ever as the pursuit of zero cases grows more prolonged, taxing and complex, with the highly infectious Omicron variant demanding quicker and tougher steps.

Reuters

Shanghai Composite Index Rose 0.65% on Tuesday

Shenzhen Component Index closed up 1.23%

Caixin Global

Shanghai Says 'Zero-Covid' Achieved but Millions Still in Lockdown

Shanghai on Tuesday declared it had achieved "zero-Covid" across all its districts, sparking derision on social media as millions in China's biggest city remained under lockdown. Confronted with its worst outbreak since the beginning of the pandemic, China -- the last major economy still closed off to the world --…

Asharq Al-Awsat

Shanghai says 'zero-Covid' achieved but millions still in lockdown

Shanghai (AFP) - Shanghai on Tuesday declared it had achieved "zero-Covid" across all its districts, sparking derision on social media as millions in China's biggest city remained under lockdown.

AFP

Shanghai residents leverage Excel skills, management savvy to navigate lockdown

China's worst COVID-19 outbreak has frayed nerves and stirred resentment among many residents of Shanghai but some have thrived in the face of adversity, stepping up with bright ideas and commitment to help their communities through the crisis.

Reuters

Musk's China ties add potential risks to Twitter purchase

Elon Musk’s ties to China through his role as electric car brand Tesla’s biggest shareholder could add complexity to his bid to buy Twitter

The Independent UK

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Reuters

Shanghai hits prized 'zero COVID' status but lockdown lingers

Shanghai achieved its long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones on Tuesday but most residents will have to put up with confinement for a while longer before resuming more normal life.

Reuters

Shanghai reports 77 symptomatic, 746 asymptomatic COVID cases for May 16

The Chinese financial hub of Shanghai reported 746 new local asymptomatic coronavirus cases for May 16, down from 869 a day earlier, data released on Tuesday showed.

Caixin Global

Parcel Deliveries Continue Dropping as Virus Restrictions Persist

Shanghai’s 90% plunge leads China slump as nationwide more than 1 billion fewer packages were distributed in April than in March

Tribune News Service

China’s economic activity collapses under Xi’s COVID Zero policy

China’s economy is paying the price for the nation’s COVID Zero policy, with industrial output and consumer spending sliding to the worst levels since the pandemic began and analysts warning of no quick recovery.

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InsideEVs

Report: Tesla's Plan To Restore Full Production In China Is Delayed A Week

The Tesla Giga Shanghai plant is slowly resuming and increasing production, but it might take more time than initially expected to achieve full scale again.

InsideEVs

Elon Musk's Confidence In China Happens To Be Reciprocal

Officials in Shanghai helped Tesla cart over 6,000 employees and supplier employees to their jobs to help the automaker re-open its factory following lockdowns.

Caixin Global

Two Carriers to Resume Domestics Flights Out of Shanghai This Week

Juneyao and Spring Airlines will restart passenger services to the cities of Kunming and Longyan

France 24

China's economy takes a hit from Covid-19 lockdowns

New data shows China's economy cooled sharply in April, as many cities including Shanghai suffered Covid-19 lockdowns. Industrial output dropped nearly 3 percent compared to a year before, while retail sales slumped 11 percent. Meanwhile, global wheat prices jump after India announces a ban on exporting the grain due to…

The Street

Stocks Edge Lower, Week Ahead, Tesla, Twitter, Spirit & JetBlue In Focus - Five Things You Must Know

Stock futures edge lower as growth worries snuff out Friday rally; Week Ahead: consumer strength in focus ahead of retail sales data, big store earnings; Tesla slips amid report of more delays at Shanghai factory; Twitter extends slump as musk reveals spat with legal team and Spirit soars as JetBlue…

Al Jazeera

China’s Shanghai aims to end COVID lockdown by June 1

Shanghai to phase out strict lockdown measures that have kept 26 million people at home for more than six weeks.

Caixin Global

Shanghai Composite Index Fell 0.34% on Monday

Shenzhen Component Index closed down 0.6%

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