China’s retail sales plunged 11.1% in April from a year ago as Covid controls kept many people at home and malls closed. Pictured here is a luxury store in Shanghai on June 4, 2022, just a few d...
Tag: Beijing
Nearly all factories in Shanghai resume work as Covid controls ease
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomb...
Silver price forecast following a ferocious COVID-19 outbreak in Beijing
Silver price has edged lower in Monday’s session as a reaction to a stronger US dollar and higher Treasury yields. In the ensuing sessions, the focus will be on the Fed interest rate decision schedule...
China ride-hailing giant Didi to start trading on OTC market after NYSE delisting, ending an 11-month fiasco that angered Beijing
Chinese ride-hailing giant Didi Global will start trading on the over-the-counter market (OTC) on Monday, more than two weeks after its shareholders voted to delist the company from the New York Stock...
Beijing, Shanghai reimpose some bans
People wait in line for nucleic acid tests to detect COVID-19 at a testing site on June 9, 2022, in Beijing, China. China says it has generally controlled recent outbreaks in Beijing after hundreds of...
Didi to resume app downloads and new user registrations as Beijing security probe nears completion: report
Chinese ride-hailing giant Didi Chuxing, whose New York listing under the name Didi Global triggered a cybersecurity investigation nearly a year ago, will soon be cleared by regulators to resume norma...
Self-driving car companies’ first step to making money isn’t robotaxis
A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING — While...
Beijing Says US Supply Chain Curbs Sabotage China’s Development
(Bloomberg) — The United States is “over-stretching” the concept of national security by imposing supply chain sanctions on China to stymie its growth, according to Chinese Foreign Ministry spok...
China’s Covid Policy Is Costing It Foreign Investors’ Confidence
American companies such as Tesla have had their China operations disrupted by Covid lockdowns in … [+] Shanghai in the past several weeks. (Photo by Xiaolu Chu/Getty Images) Getty Images Shangha...
Didi Investors to Vote on NY Delisting After Beijing Crackdown
(Bloomberg) — Didi Global Inc. is widely expected to secure a blessing from shareholders on Monday to delist in New York, capping an 11-month ordeal that wiped out around $60 billion of its mark...
Xiaomi Posts 1st Quarter Loss As Covid, Parts Shortage Hurt Smartphone Sales
A shopper walks past a Xiaomi store in Shanghai last year. Retail business this year has been hurt … [+] by Covid lockdowns. Photographer: Qilai Shen/Bloomberg © 2021 Bloomberg Finance LP Xiaomi...
China Faces Omicron ‘Tsunami’ If It Abandons Controversial Zero-Covid Policy, Researchers Warn
Topline China faces an omicron “tsunami” that could overwhelm hospitals and kill more than 1 million people if it abandons its “zero-Covid” strategy, according to a new study published in Nature Medic...
China’s Covid Policy Will “Exact A Very High Cost On The Economy”
A health worker in personal protective equipment administers a booster shot to an international … [+] resident at a hospital during a lockdown due to Covid-19 in Shanghai, China on Saturday, May...
Beijing And Shanghai Tighten Covid Restrictions Triggering More Discontent From Residents
Topline China enacted tighter pandemic restrictions in two of its biggest cities—Beijing and Shanghai—on Monday in a renewed push to quash out the spread of Covid-19 in the two cities even as it faces...
China Covid Policies “Causing Massive Uncertainty For Businesses,” European Chamber Says
A Chinese flag in front of the Shanghai Railway Station during a lockdown due to Covid-19 in … [+] Shanghai earlier this month.Source: Bloomberg © 2022 Bloomberg Finance LP China’s Covid-19 poli...
PCAOB Officials Arrive In Beijing, Week In Review
China Last Night KraneShares Week in Review The arrest of a man named Ma in Hangzhou sent Alibaba lower on Tuesday, though the man arrested was not Jack Ma. This is an unfortunate example of investors...
Hong Kong’s Single-Candidate Election To Anoint Former Policeman As City’s New Leader
John Lee is due to be formally selected as Hong Kong’s new leader on Sunday in an election that features only one candidate. It’s the first election for the city’s top job since Beijing passed legisla...
China’s Xi Jinping calls for sticking to zero-Covid policy
Xi Jinping seen giving a speech during the centenary of the founding of the Chinese Communist Party, in Fuyang on July 1, 2021. From a political perspective, 2022 is a particularly critical year for C...
Beijing city bans in-restaurant dining as China’s Covid controls tighten
As part of the latest Covid controls, China’s capital city of Beijing banned in-store dining as a five-day holiday kicked off, prompting restaurants to sell food outside. Kevin Frayer | Getty Im...
China Messaging On Ukraine Shows Support For Russia’s Invasion: U.S. State Department
Vladimir Putin, Russia’s president, right, and Xi Jinping, China’s president, listen to questions at … [+] the St. Petersburg International Economic Forum in 2019. Photographer: Andrey Rud...
Setback In Shanghai As New Covid Cases Reported Beyond Lockdown, Beijing Carries Out More Mass Testing
Topline Shanghai—which has largely remained under lockdown for more than a month—faced a setback on Monday as officials detected 58 new Covid-19 cases outside neighborhoods that are under complete loc...
Beijing Capital Airport Losses Since Start Of Pandemic Hit $735 Million
Travelers walk through Beijing Capital International Airport in Beijing, China, on Saturday, May 1, … [+] 2021. Photographer: Yan Cong/Bloomberg © 2021 Bloomberg Finance LP Beijing Capital Inter...
China sticks to Covid controls, Beijing luxury mall closes
Major luxury goods mall Beijing SKP, pictured here in 2021, said Friday it would close — with no reopening date specified — after the city confirmed three Covid cases in an apartment community nearby....
Is China Juicing GDP Data? Economists Can’t Help But Wonder
Security guards wear protective clothing as office workers queue for Covid-19 nucleic acid tests at a makeshift testing site on April 28, 2022 in Beijing, China. Kevin Frayer/Getty Images It’s both th...
Baidu Gets Green Light For Autonomous Beijing Taxis, Premier Li Highlights Internet Companies
China Last Night KraneShares Key News Asian equities had a strong night as all markets gained, led by Japan as the Yen hit a low versus the US dollar not seen since 2002. Hong Kong had a strong day le...
Beijing Locks Down Residential Complexes And Moves Classes Online As Covid Cases Rise
Topline Authorities in Beijing ordered the switch to online classes for several schools in the city and locked down a number of residential compounds and offices amid concerns the Chinese capital coul...
China’s Beijing city loosens robotaxi rules for Baidu Apollo Go, Pony.ai
Chinese tech companies Baidu’s Apollo Go and Pony.ai announced Thursday they received permission from Beijing city authorities to remove the safety driver for part of their robotaxi business in ...
Investors Fear Beijing Lockdown After Testing
Key News Asian markets followed the US’ steep Friday sell-off lower as all markets closed down except for the Philippines, which gained +0.32%, and Australia, which was closed. Reports of mass covid t...
Currency Volatility: China, Japan And Switzerland
The dollar’s rapid rise against the Japanese yen and a basket of other large country currencies has led to fresh suggestions that governments may intervene to support their local currencies. This mean...
Chinese stocks and yuan fall as Beijing braces for Shanghai-like lockdown
Mainland Chinese indexes turned red and led the drop-off, as Asian markets fell sharply on Monday, April 25. The Shenzen Component Index fell 6.08% to 10,379.28, while the Shanghai Composite Index dec...
American Lawyer Quarantined For 37 Days In China Describes “Chaotic” Environment
James Zimmerman is a partner at Perkins Coie in Beijing. James Zimmerman American lawyer James Zimmerman, a partner at Perkins Coie in Beijing, has worked in China for 24 years, and thought he was wel...