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The Latest Breaking News from Shanghai

China daily Covid-19 cases hit 2-year high

SHANGHAI: Mainland China reported more than 1,500 new local Covid-19 infections on Saturday, the most since the initial nationwide outbreak at the start of 2020, as the Omicron variant prompts cities across the country to further tighten measures.

Bangkok Post

Shanghai Suspends In-Person Classes at Schools as Covid Outbreak Spreads

China’s financial hub will require elementary, middle and high school students to study online from Saturday

Caixin Global

Piper Sandler Remains Cautious On Tesla Despite Noting Its Strength

Piper Sandler analyst Alexander Potter admitted that the current weekly China Passenger Car Association February sales and production exhibited continued strength for Tesla Inc's (NASDAQ:TSLA) Shanghai factory. Tesla sold 56,515 China-made vehicles in February, including 33,315 for export. Potter also noticed a "general uptick in inbound calls" from investors regarding Tesla's exposure to geopolitical risks and commodity price…

Benzinga

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Shanghai steps up defences against wave of asymptomatic COVID cases

The Chinese financial hub of Shanghai is moving quickly to halt the spread of COVID-19 amid a rising wave of local symptomless cases, testing tens of thousands of people, delaying dozens of concerts and exhibitions and shutting some public venues.

Reuters

Nickel chaos goes silent as China also hits pause on trading

Nickel futures are not trading anywhere in the world on Wednesday, after prices in Shanghai hit their daily upward limit in the wake of unprecedented moves and a trading suspension on the London Metal Exchange.

Bangkok Post

Shanghai Composite Index Fell 2.35% on Tuesday

Shenzhen Component Index closed down 2.62%

Caixin Global

Mainland China daily local COVID cases climb to 2-year high

Mainland China has logged its highest number of daily new local symptomatic COVID-19 infections in about two years, with the highly transmissible Omicron variant putting pressure on the government's strict policy of curbing each outbreak quickly.

Reuters

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China Green Bulletin: China’s Energy Intensity Dropped 3.8% in 2021

BIS to launch Asia green bond fund for central banks, leading lenders disclose details of emission reduction loans

Caixin Global

Shanghai Composite Index Fell 0.96% on Friday

Shenzhen Component Index closed down 1.37%

Caixin Global

Tesla Said To Plan Second Factory In Shanghai To Meet Rising Demand

Tesla expects to start working on the new plant as soon as next month, with the facility to be located in the vicinity of the existing site, Reuters reports.

InsideEVs

Tesla Plans For A Second Plant In Shanghai To Increase China Production Capacity to 2M Cars: Report

Electric vehicle leader Tesla Inc (NASDAQ: TSLA) has ambitious plans for China, a country considered to be a vital part of the company's growth story.

Benzinga

Tesla To Increase Parts Production Capacity At Giga Shanghai To Meet Export Demand: Report

Tesla, Inc. (NASDAQ: TSLA) has a thriving manufacturing base in Shanghai that has emerged as its export base in the region.

Benzinga

Tesla To Invest/Expand Giga Shanghai: 1M Annual Production Goal

Tesla just announced an investment related to its China factory in November. Now, it's raising the stakes to meet a new goal of 1 million EVs produced per year.

InsideEVs

China's child-rearing costs far outstrip US, Japan

SHANGHAI: The cost of raising a child in China stands at nearly seven times its per capita GDP, far more than the United States and Japan, highlighting the challenges facing Chinese policymakers as they try to tackle rapidly declining birth rates, new research showed.

Bangkok Post

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InsideEVs

Tesla's China Factory Cranking Out Exports Ahead Of Local Sales

We've seen many reports of a massive assortment of Tesla cars ready to leave Shanghai for global delivery. This doesn't mean Tesla won't also deliver in China.

Caixin Global

Shanghai Composite Index Ended Nearly Flat on Monday

Shenzhen Component Index closed up 0.09%

The Japan News/Yomiuri

Japanese man in custody in China since last year

SHANGHAI -- A Japanese man in his 50s has been detained in Shanghai by Chinese authorities since December, according to Japanese and Chinese sources.

France 24

Chinese artist Ai Weiwei: Western boycott of Beijing Olympics is 'a joke'

He is the most famous Chinese dissident and one of the best-known contemporary artists in the world. Ai Weiwei was harassed by the Chinese authorities, who bulldozed his Shanghai studio, sent him to jail without charge and drove him out of his country. After the February 2 publication of the…

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Caixin Global

Shanghai Composite Index Rose 0.17% on Thursday

Shenzhen Component Index closed down 0.73%

The Independent UK

Asian shares fall as markets watch omicron, central banks

Asian shares are mixed, with Shanghai gaining after reopening from the Lunar New Year holidays

Asharq Al-Awsat

Hologram of IOC’s Bach Hands over ‘Torch’ in Virtual Relay

After days of face to face diplomacy at the Beijing 2020 Winter Olympics, it was time for the holograms to take over on Sunday. A life-size image of International Olympic Committee president Thomas Bach virtually handed an Olympic torch to a similar hologram of the chief executive of tech giant…

Daily Mirror

Government paying to rent storage space in China for 1.6 billion items of unused PPE

Ministers have confirmed taxpayers are paying to rent thousands of shipping containers to house billions of masks, gloves and gowns across the UK - and in Shanghai

InsideEVs

Nearly 6K Tesla Model 3 And Model Y Piling Up In China For Export

Tesla has made it official that Giga Shanghai is its main export hub, and this video gives us an idea of how the situation is unfolding for Q1 2022.

Benzinga

Daqo Taps Richly-Valued China-Listed Unit to Raise $1.7 Billion For Expansion

Key takeaways: Daqo New Energy will tap its China-listed subsidiary to raise funds for construction of a major new production facility in Inner Mongolia Daqo’s holdings in the China-listed unit, Xinjiang Daqo, are worth more than four times its own latest market value By Doug Young

Benzinga

Micron To Shut Shanghai DRAM Design Operations, Relocate Engineers: Report

U.S. memory chip giant Micron Technology Inc (NASDAQ:MU) has confirmed it will close its DRAM design operations in Shanghai by 2022 end, SCMP reports. Micron looks to ask ~150 Chinese engineers to relocate to the U.S. or India. Micron, which employs about 43,000 people globally, did not provide a reason for the decision.…

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