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The Latest Breaking News from Shanghai

Hong Kong slips 1 place to fourth most expensive city for luxury spending

HONG KONG: Hong Kong has slipped one place to become the fourth most expensive city on the planet for luxury goods and services, according to a report released by Swiss private bank Julius Baer on Wednesday.

Bangkok Post

Forever 21 Takes Third Crack at China with New Bricks and Mortar Store

American fast fashion retailer Forever 21 is making its third tilt at the China market, with plans to open a physical store in the country later this month. The brand said on social media platform WeChat that it would open a store "in June" at Jingjiang Impression City shopping center…

Asharq Al-Awsat

China COVID Controls Makes Apple Supplier Pegatron ‘Emphasize’ Expansion Elsewhere

China's recent lockdowns to control the spread of COVID-19 have made Apple Inc iPhone assembler Pegatron Corp "emphasize" its expansion in other countries, a senior executive at the Taiwanese firm said on Wednesday. In April, Taiwan-headquartered Pegatron suspended operations at its Shanghai and Kunshan plants in China due to strict…

Asharq Al-Awsat

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Shanghai Composite Index Rose 0.5% on Wednesday

Shenzhen Component Index closed up 0.95%

Caixin Global

Shanghai lockdown sees quarter of US firms cut investment plans

SHANGHAI: Shanghai's lengthy Covid-19 lockdown pushed a quarter of US firms in the city to cut investment plans and nearly all to drop revenue forecasts, a business group said Wednesday.

Bangkok Post

Portrait: Chloe Gong

Sarah Morcom (words) and Jane Ussher (photos) meet a best-selling author, 23

Newsroom.co.nz

Disney To Reopen Shanghai Properties After 3 Months Of COVID Closure

The Walt Disney Co. (NYSE: DIS) is planning to reopen two of its Shanghai properties as the Chinese city slowly moves beyond its extensive COVID-19 lockdown.

Benzinga

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Shanghai Tries New Tactics to Stamp Out Crypto Mining

Companies running data centers are required to conduct self-checks and pledge not to engage in the power-hungry activity

Caixin Global

China is walking back virus loosening weeks after reopening

China is starting to re-impose COVID-19 restrictions just weeks after major easing in key cities, raising concern the country may once again employ strict lockdowns to control its outbreak.

Tribune News Service

A COVID-19 cluster at a Beijing nightclub sets off a new clampdown

Dozens of cases linked to a nightclub spurs officials to return to online schooling and indefinitely delay sports gatherings.

WEKU

Virus cluster at nightclub sets off new Beijing clampdown

China's capital has put school online in one of its major districts amid a new COVID-19 outbreak linked to a nightclub

The Independent UK

China is walking back virus loosening just weeks after reopening

China is starting to reimpose COVID-19 restrictions just weeks after major easing in key cities, raising concern the country may once again employ strict lockdowns to control its outbreak.

Tribune News Service

China's wall of public-health distrust

China's urban populations have been enduring some of the most intense infection-prevention measures of the Covid-19 pandemic. For 60 straight days, Shanghai's 27 million residents were forced into a strict lockdown -- and they were not alone. During the peak of the Omicron BA.2 wave in the past two months,…

Bangkok Post

Lockdown fears linger as Beijing says harder to control cluster

Beijing’s local government said a COVID-19 outbreak linked to a popular bar is proving more difficult to control than previous clusters, in a weekend that saw mass testing and rising infections both in the city and Shanghai.

Tribune News Service

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Asharq Al-Awsat

Mass COVID Testing Announced for Beijing’s Chaoyang District amid ‘Ferocious’ Outbreak

Beijing's most populous district Chaoyang announced three rounds of mass testing to quell a "ferocious" COVID-19 outbreak that emerged at a bar in a nightlife and shopping area last week, shortly after the city relaxed curbs imposed during an outbreak in April. City health officials said that so far there…

Reuters

Beijing warns of 'explosive' COVID outbreak, Shanghai conducts mass testing

China's capital Beijing is experiencing an "explosive" COVID-19 outbreak connected to a bar, a government spokesman said on Saturday, as the commercial hub, Shanghai, conducted mass testing to contain a jump in cases tied to a hair salon.

Bangkok Post

Beijing and Shanghai resume mass testing

Beijing and Shanghai have resumed mass testing for Covid-19 while a planned reopening of schools in the capital will be delayed as virus outbreaks emerge just days after the two cities eased social curbs that had been in place for months.

The Independent UK

Asian shares slip after rate jitters pull Wall Street lower

Shares are mostly lower in Asia, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will focus on battling inflation with interest rate hikes

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Asharq Al-Awsat

China's Xi backs zero-COVID policy as Shanghai expands mass testing

President Xi Jinping said China must stick "unswervingly" to its zero-Covid strategy, as more than half of Shanghai's 25 million lockdown-weary residents gird Friday for a weekend virus testing drive. China is the last major economy still pursuing a policy of stamping out all outbreaks, wielding snap lockdowns, mass testing…

The Guardian - AU

Xi Jinping says ‘persistence is victory’ as Covid restrictions return to Shanghai and Beijing

Both cities back on high alert, with new lockdowns in Shanghai , and the shutdown of entertainment venues in Beijing

Reuters

Shanghai to lock down millions again for mass COVID testing

China's commercial hub of Shanghai will lock down millions of people for mass COVID-19 testing this weekend - just 10 days after lifting its gruelling two-month lockdown - unsettling residents and raising concerns about the business impact.

InsideEVs

China: Made In China Tesla EV Sales Recovered In May 2022

The Tesla Giga Shanghai plant in China appears to be gradually recovering its production of sales, although the results are not yet on par with the pre-lockdown level.

Benzinga

Why Bilibili Shares Are Plunging Today

Bilibili Inc (NASDAQ:BILI) reported first-quarter FY22 revenue growth of 30% year-on-year to $797.3 million, beating the consensus of $757.6 million. Drivers: Average monthly active users (MAUs) increased 31% Y/Y to 293.6 million, and Mobile MAUs rose 33% Y/Y to 276.4 million. Average daily active users (DAUs) climbed 32% Y/Y to 79.4 million, and Average…

Reuters

Shanghai to conduct mass COVID testing in 7 of its 16 districts at weekend

The Chinese commercial hub of Shanghai will carry out mass testing for COVID-19 in seven districts over the weekend, a local health official said on Thursday.

The Independent UK

Covid news - live: Infections rise for first time in two months with fears of new wave

Health chief says it is ‘very, very difficult’ to say how big or serious wave might be

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