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The Latest Breaking News from Shanghai

Tesla Giga Shanghai Said To Remain Shut Amid COVID-19 Lockdowns

Tesla Inc’s (NASDAQ: TSLA) key manufacturing plant Giga Shanghai remained shut on Friday amid citywide lockdowns in China due to a recent spike in COVID-19 cases, Nikkei Asia

Benzinga

3 Shanghai officials sacked over COVID-19 response

Three local officials in Shanghai have been sacked over a slack response to the COVID-19 outbreak in China's largest city, where residents are complaining of harsh lockdown conditions leading to shortages of food and basic necessities

The Independent UK

Shanghai Composite Index Rose 0.47% on Friday

Shenzhen Component Index closed down 0.11%

Caixin Global

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For China's leaders, 'lying flat' is scarier than Covid

In the US and Europe, the phrase "living with the virus" refers to reopening the economy and trusting that vaccines work. Not in China. In the public discourse, that would be tantamount to "lie flat," a catchphrase for encouraging inaction — an approach that has grown so popular that it…

The Times of India

Shanghai widens COVID testing as other Chinese cities impose curbs

Shanghai on Friday announced a record 21,000 new cases and a third consecutive day of COVID testing as a lockdown of its 26 million people showed no sign of easing and other Chinese cities tightened curbs - even in places with no recent infections.

Reuters

Covid-19: Shanghai races to build hundreds of thousands of isolation beds

SHANGHAI: Shanghai is transforming conference centers and conscripting neighboring provinces to create isolation facilities for hundreds of thousands of people, a sign of its commitment to a zero tolerance approach to Covid-19 amid China's worst outbreak to date.

The Times of India

Shanghai Continues Citywide Lock-down Despite Public Outcry, Food Shortages, and Chaos

As the Chinese government tries to suppress the outbreak in Shanghai under zero-Covid policy, it is said that more recent deaths have been related to the lockdown than the virus.

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Shanghai wrestles with food shortages under virus shutdown

Residents of Shanghai are struggling to get meat, rice and other food supplies under anti-coronavirus controls that confine most of its 25 million people to their homes

The Independent UK

Boeing 737 MAX Lands In China Amid Uncertainty Over Model's Return: Reuters

A Boeing Co (NYSE:BA) 737 MAX intended for China Eastern Airlines (NYSE:CEA) subsidiary Shanghai Airlines landed in Shanghai on Thursday, according to flight-tracking websites, amid uncertainty about when the model will resume flying in China, reported Reuters. Flight BOE631 from Guam came more than three weeks after the first 737 MAX bound for a Chinese…

Benzinga

Shanghai COVID measures target international flights - sources

Chinese authorities are telling foreign airlines they must have more empty seats on international flights when they arrive at Shanghai's Pudong airport, sources said on Thursday, as part of measures to prevent the importation of COVID-19 cases.

Reuters

Shanghai Composite Index Fell 1.42% on Thursday

Shenzhen Component Index closed down 1.65%

Caixin Global

‘Total disaster’: Shanghai lockdown puts livelihoods under strain

Restauranteurs and other small business owners struggle as COVID lockdown brings China’s biggest city to a halt.

Al Jazeera

Shanghai calls on party members to 'draw swords' in Covid fight

SHANGHAI: China's ruling Communist Party issued a rare call imploring rank-and-file members to help contain the coronavirus in Shanghai, a sign of the strain the locked down financial hub of 25 million people is under as its worst outbreak to date spreads.

The Times of India

Shanghai vows to improve food deliveries as discontent grows over COVID curbs

The Shanghai government said on Thursday it was trying its best to improve the distribution of food and essential goods to locked-in residents, responding to growing public discontent as COVID curbs stretched into an 11th day.

Reuters

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Tribune News Service

Shanghai calls on party members to ‘draw swords’ in COVID fight

China’s ruling Communist Party issued a rare call imploring rank-and-file members to help contain the coronavirus in Shanghai, a sign of the strain the locked-down financial hub of 25 million people is under as its worst outbreak to date spreads.

Benzinga

Tesla's Shanghai Factory Remains Closed Amid Covid-19 Surge

Tesla Inc (NASDAQ:TSLA) factory shutdown has stretched out to at least 12 days as Shanghai's Covid-19 lockdown disrupts businesses in China's financial hub, Bloomberg reports. The factory lockdown, which began on March 28, will remain closed through Thursday, making Tesla lose 12 days of production in recent weeks. The most sought-after semiconductors are…

France 24

Shanghai extends Covid-19 lockdown as Omicron cases soar

Shanghai’s lockdown was due to end in four days but it has since been extended due to the speed of Omicron spread in China’s economic capital. FRANCE 24 reports.

Benzinga

Dingdong, Missfresh Surge on Booming Business During Covid Lockdowns

Key Takeaways: Investors may be growing more bullish on Dingdong and Missfresh as recent Covid-related lockdowns drive more consumers to buy groceries online Both companies trade at relatively low valuations, even after big stock gains this week, as analysts remain bullish on the pair By Doug Young

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Benzinga

Citi Slashes Alibaba's Price Target By 12% As COVID Resurgence Looks To Dampen Growth

Citi analyst Alicia Yap lowered the price target on Alibaba Group Holding Ltd (NYSE:BABA) to $177 from $200 (59.5% upside) and kept a Buy rating on the shares. Amid the widening spread of COVID cases and city lockdowns, the analyst thinks overall economic activities in China have been negatively affected, which has drained Alibaba's profit…

Reuters

China relies on traditional medicine to fight COVID surge in Shanghai

Shanghai is distributing to residents millions of boxes of traditional Chinese medicine (TCM), such as herbal products and flu capsules, which it says can treat COVID-19 in the battle to control its largest virus outbreak.

Reuters

U.S. consulate staff in China help Marines running low on rations

Generous colleagues helped out seven U.S. Marines at the U.S. consulate in Shanghai who were running out of fresh food because of a strict coronavirus lockdown, according to posts in private consulate message groups.

Asharq Al-Awsat

Oil Rises as New Russia Sanctions Outweigh Demand Worries

Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in US crude stockpiles and Shanghai's extended lockdown. Brent crude futures were up 49 cents, or 0.5%, at $107.13 a barrel as of…

Reuters

In Shanghai, a long, fruitless wait for help amid COVID lockdown

The elderly woman slouched in a chair in Shanghai's cool spring weather as her three companions squabbled with police and others clad in white biohazard suits, the only people visible on a street emptied by the COVID-19 lockdown.

Caixin Global

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.45%

The Independent UK

Shanghai to allow parents to stay with COVID-infected kids

Following a public uproar, Shanghai will allow parents to stay with children infected with COVID-19 as China's largest city sees another jump in cases

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