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The Latest Breaking News from Shanghai

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…

Benzinga

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.

France 24

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

Benzinga

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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…

Benzinga

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.

Reuters

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…

Asharq Al-Awsat

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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.

Reuters

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed down 0.45%

Caixin Global

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

The Independent UK

Shanghai’s ‘grim’ Covid outbreak threatens more global supply chain disruption

Lockdowns imposed over China’s worst Covid outbreak has hit manufacturing and may lead to delays and higher prices

The Guardian - AU

China Reports 20,000 Daily Covid cases

China reported over 20,000 Covid-19 cases on Wednesday, the highest daily tally given since the start of the pandemic, with Shanghai the heart of the virus surge despite being in lockdown. The country's "zero-Covid" strategy has come under immense strain as cases spike. Until March, China had kept daily cases…

Asharq Al-Awsat

Shanghai scrambles to secure food supplies as COVID lockdown hits

Residents in the major Chinese financial centre of Shanghai, with 26 million under lockdown, scrambled to secure food on Wednesday, with supermarkets shut and deliveries restricted amid another citywide COVID-19 testing programme.

Reuters

Shanghai residents face food shortages as lockdown extended due to rising COVID-19 cases

The Chinese megacity where 26 million people are in an extended lockdown is facing a food supply shortage and residents' frustration is growing.

ABC News

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Reuters

Shanghai to start another round of citywide COVID tests

Shanghai will ask all 26 million residents to take another round of COVID-19 tests, a city official said on Wednesday, adding that lockdown curbs would continue until the exercise is complete.

Al Jazeera

Shanghai residents feel strain as lockdown extended indefinitely

People confined to their homes, unable even to take their dogs for a walk, and reliant on authorities for supplies.

Axios

China’s extreme COVID lockdowns cause widespread suffering

The extreme measures are causing food shortages and disruptions in medical treatment.

The Guardian - UK

Shanghai puts whole city on lockdown as Covid cases surge

Residents of China’s most populous city complain of government’s lack of organisation

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The Independent UK

COVID outbreak 'extremely grim' as Shanghai extends lockdown

A city official says the COVID-19 outbreak in China's largest metropolis of Shanghai remains “extremely grim" amid an ongoing lockdown confining 26 million people to their homes

Reuters

Whole of Shanghai enters COVID lockdown despite lower symptomatic cases

(This April 5 story corrects final paragraph to say the 23 cities account for 22% of GDP, not 13.6%)

The Guardian - AU

‘This is inhumane’: the cost of zero Covid in Shanghai

Patients sick with non-Covid related illnesses are being kept away from hospitals as anger grows over failure to control Omicron

Caixin Global

Shanghai Reports No Port Back-Ups Amid Covid Flare-Up

World’s busiest container port says it’s keeping up with fast turnarounds and short queues amid concerns over congestion

InsideEVs

German-Made Tesla Model Y Compared To China-Made Model Y

Does Tesla's made-in-Germany Model Y differ from other Model Ys in Europe that were built at Giga Shanghai? Let's take a look at two Model Y SUVs side by side.

Caixin Global

Editorial: People’s Livelihood Must Be Guaranteed Amid Fight Against Covid-19

Virus control policies should give consideration to science, market and information transparency, and truly put lives above everything else

Asharq Al-Awsat

China Sends in Military to Help with Shanghai COVID Outbreak

China has sent more than 10,000 health workers from across the country to Shanghai, including 2,000 military medical staff, as it struggles to stamp out a rapidly spreading COVID-19 outbreak in China's largest city. The city was conducting a mass testing of its 25 million residents Monday as what was…

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