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The Latest Breaking News from Shanghai

Chaos at Apple supplier Quanta shows strains of Shanghai COVID lockdown

Quanta Shanghai Manufacturing City would seem like an ideal site to implement China's "closed-loop" management system to prevent the spread of COVID that requires staff to live and work on-site in a secure bubble.

Reuters

'Stop asking why': Shanghai tightens COVID lockdown, Beijing keeps testing

Shanghai authorities were tightening the city-wide COVID lockdown they imposed more than a month ago, prolonging into late May an ordeal that China's capital Beijing was desperate to avoid by turning mass testing into an almost daily routine.

Reuters

EV Week In Review: Tesla Has Good News On Shanghai, Nio's Plans Amid Delisting Risk, And This Auto Giant Renews EV Leadership Pledge

Electric vehicle and allied sector stocks extended their losses in the week ending May 6, caught in the vortex of the broader market sell-off seen in the final two sessions of the week. Chinese EV stocks led the week's retreat amid fears that they could be potentially delisted from U.S. exchanges.

Benzinga

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Beijing kicks off fresh round of COVID tests as Shanghai postpones crucial exams

China's capital Beijing kicked off a fresh round of mass testing for COVID-19 on Saturday and shut more bus routes and metro stations, as it seeks to avert the fate of Shanghai, where millions of residents have been locked down for over a month. The draconian movement curbs on Shanghai,…

Asharq Al-Awsat

Beijing kicks off fresh round of COVID tests as Shanghai postpones crucial exams

Reuters

U.S. OKs China Eastern rerouting of New York-Shanghai flights

The U.S. Transportation Department on Friday approved China Eastern Airlines Corp's request to let it extend the rerouting of New York-to-Shanghai flights, over COVID-19 measures, to a different Chinese airport through May 31.

Reuters

Chaos Erupts At Apple Plant In China Due To Strict Lockdown

Hundreds of workers at Quanta Computer Inc's (OTC:QUCPY) Shanghai factory manufacturing Apple Inc (NASDAQ:AAPL) devices clashed with authorities and flooded past isolation barriers after weeks under lockdown on May 5, Bloomberg reports. Quanta is a critical partner for Apple, generating over 50% of its revenue from the iPhone-maker as it assembled MacBooks and other devices.…

Benzinga

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Can China preserve both its economy and its zero-tolerance COVID-19 policy?

TAIPEI, Taiwan — China's zero-COVID strategy is starting to derail another major item on the government's agenda: economic stability.

Los Angeles Times

Tesla Will Run Two Shifts At Shanghai Plant From May 16

Tesla, Inc (NASDAQ:TSLA) looks to run two shifts at its Shanghai plant from May 16, Reuters reports. The additional shift would enable the EV maker to return factory output to pre-lockdown levels. Tesla aims to churn out 2,600 electric cars from the Shanghai plant per day. Also Read: Tesla Shanghai Workers Forced To…

Benzinga

ACM Research Misses Q1 Due To Shanghai Lockdown

ACM Research, Inc (NASDAQ:ACMR) reported a first-quarter FY22 revenue decline of 3.5% year-on-year to $42.2 million, missing the consensus of $51.8 million. The decline reflected lower revenue from single wafer wet cleaning tools, advanced packaging, and other back-end processing equipment due to COVID-19 restrictions in Shanghai. The Shanghai lockdown negatively impacted revenue from…

Benzinga

China builds permanent COVID testing stations for life after lockdown

China is setting up thousands of permanent PCR testing stations, with 9,000 already completed in Shanghai alone, as authorities seek to "normalise" tough pandemic controls even after the current round of lockdowns end.

Reuters

As Beijing battles outbreak, China warns 'zero COVID' doubters

Beijing residents fretted on Friday over tightening COVID curbs in its biggest district and dozens of new cases reported daily as China's leaders reiterated their resolve to battle the virus and threatened action against critics of their strict measures.

Reuters

Xi Jinping attacks ‘doubters’ as he doubles down on China’s zero-Covid policy

President defends ‘scientific and effective’ mass lockdowns despite protests, shortages and damage to economic growth

The Guardian - AU

Lockdowns, crackdowns, chew toys. Owning an illegal big dog in Beijing

In China’s strictest city for dog-owners, a growing community of big dog-lovers learns how to live on the wrong side of the law

Financial Times

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Reuters

Shanghai says China's worst COVID outbreak under "effective control"

Shanghai said on Friday it has brought China's worst outbreak of COVID-19 under effective control following a month-long lockdown of nearly 25 million people, with authorities vowing to stand by their zero-COVID strategy despite mounting economic costs.

Reuters

'How did we catch it?': spread of COVID baffles locked-down Shanghai residents

Veronica thought she did everything right by sticking to all of the COVID-19 lockdown rules in the Chinese city of Shanghai.

Inverse

'Genshin Impact' 2.7 delay update suggests HoYoverse's troubles are far from over

The 'Genshin Impact' 2.7 delay is the first in HoYoverse's typically steady schedule of updates. It's for a good reason, though.

Benzinga

Arm China Fires CEO But He Refuses To Just Pack His Bags And Leave

Arm China — a Shanghai-based joint venture between Arm Ltd and Chinese private equity firm Hopu Investment — on Thursday said its former CEO Allen Wu was refusing to relinquish his role despite being fired last week.

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Caixin Global

Shanghai Composite Index Rose 0.68% on Thursday

Shenzhen Component Index closed up 0.23%

Reuters

Beijing nervously returns to work as China doubles down on 'zero-COVID' policy

Beijing residents tentatively returned to work on Thursday after a muted five-day Labour Day holiday devoid of the usual trips across the country or lavish family dinners, as China pledged to fight any criticism of its uncompromising "zero-COVID" policy.

Al Jazeera

‘No end in sight’: In Beijing, fears of Shanghai-style lockdown

Officials in Chinese capital have designated 518 coronavirus outbreak sites amid growing fears of a city-wide lockdown.

Reuters

Shanghai reports 13 new COVID-related deaths for May 4, versus 16 a day earlier

China's eastern financial hub of Shanghai reported 13 new COVID-19 deaths for May 4, down from 16 a day earlier, the local government said in a statement on Thursday.

Benzinga

De Well Files for Hong Kong IPO, Flush With New Ties to Cainiao

Key Takeaways: • Global logistics services provider De Well has filed for a Hong Kong IPO, aiming to boost its footprint on booming demand for cross-border e-commerce

InsideEVs

New Tesla Plant To Make Shanghai "World's Largest Vehicle Export Hub"

The new facility, which will be built near the existing plant, will produce Model 3 and Model Y cars when the first phase of construction is completed.

Al Jazeera

Beijing imposes new transit restrictions in bid to contain COVID

As Omicron spreads, officials in China’s capital city are trying to avoid the kind of mass lockdown seen in Shanghai.

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