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Tag: shanghai

Tesla to Keep Output at Upgraded Shanghai Plant Below Maximum: Sources
SHANGHAI (Reuters) — Tesla plans to hold production at its Shanghai plant at about 93 percent of capacity through the end of year, despite a recent upgrade, two people with knowledge of the matter said,...
10,000 Millionaires Expected to Leave China This Year–And Take $48 Billion With Them: Report
According to a consulting firm specializing in foreign investments, over 10,000 of China’s wealthiest are looking to immigrate to other countries this year.  A report by London-based firm Henley & Partners, found that the average...
More Cities Go Under Lockdown as China Reports 1,456 ‘High’ and ‘Medium-risk’ Zones
At least 15 provinces in mainland China have reported an alarming rise in new COVID-19 infections, with over 6,000 cases reported on July 24.  Among them, 308 were in Gansu — an arid province in...
Shanghai Man Left Homeless After Being Confined to COVID Quarantine Camp for 42 Days
In late February, a man named Chen Jian ventured out to Shanghai in hopes of finding a higher-paying job to support himself and his family. After securing a job working part-time at an electronics factory,...
900 Million People in China Affected by Heat, Power Cuts as Sweltering Temperatures Break 111 Degrees
Scorching heat waves continue sweeping through vast parts of China, with a record-breaking 44 degrees Celsius (111 degrees Fahrenheit) affecting more than 900 million people across densely populated cities and provinces.  According to China’s International...
Scorching Heat Waves Sweep Through 84 Cities in China, Killing Multiple People and Triggering Govt. Power Cuts
A massive heatwave sweeping through China has forced residents to seek refuge in “air-raid shelters” and public fountains as temperatures reach a staggering 40 degrees Celsius (104 degrees Fahrenheit) in parts of the country. According...
Lockdowns Come Back to Shanghai and Beijing as Chinese Authorities Discover New COVID Cases
After more than two months of lockdowns and movement curbs that have resulted in a string of tragedies and violence, residents in Shanghai finally saw some respite after authorities loosened the draconian “zero-COVID” restrictions on...
Here’s Just How Badly ‘Zero-COVID’ Has Damaged China’s Economy
Financial analysis The world’s second largest economy is paying the price for its unrelenting “zero-COVID” policy — with industrial output and consumer spending dipping to the worst levels since the pandemic began, and financial analysts...
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Shanghai Announces Plans for Quick ‘Victory’ Over COVID-19 Amid Cratering Economy
Ruinous ‘zero-COVID’ policies have both local and central authorities scrambling to save face and livelihoods For over seven weeks now, Shanghai has enacted some of the strictest COVID measures the world has ever seen. Since...
COVID Lockdowns Cut 98% of Tesla’s April China Sales, Production Also Hard-Hit
As China continues implementing citywide lockdowns in Shanghai and Beijing in order to uphold its “zero-COVID” policy, car sales saw a record decline last month as the country’s unbending COVID protocols take a severe toll...
Chinese Authorities to Locked Down Shanghai Residents: ‘Stop Asking Why,’ Beijing Introduces Daily Mass Testing
COVID restrictions in Shanghai have again been tightened after authorities announced today, May 9, that the city’s prolonged lockdown and restrictions that have lasted over a month would continue through at least the month of...
US Firms Report Huge Dip in China Sales as Beijing Continues ‘Zero-COVID’ Measures
Several major companies, including Starbucks, Apple, Estee Lauder, and other U.S.-listed companies have warned in quarterly earnings reports that China’s “zero-COVID” controls will severely drag down profit and impact business.  International companies have faced a...