The Latest Breaking News from Shanghai

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.

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.

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

Small groups have gathered in Shanghai's former French Concession neighbourhood at midnight, whistling, shouting "ban lifted" and clinking glasses of champagne.

Covid lockdowns and the government campaign to rein in private tutoring and tech companies have made positions even harder to come by.

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…

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

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.

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.

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…

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