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The Latest Breaking News from Shanghai

China's COVID lockdowns add to shipping backlog. What does it mean for Australia?

With Shanghai in a full lockdown, already long shipping backlogs are now blowing out even further. Experts say the full effects are yet to hit Australia.

ABC News

Shanghai's focus shifts to vaccination of elderly as new cases decline

The COVID-hit city of Shanghai is making more resources available to improve vaccination rates among the elderly as daily case numbers decline and it looks for a way out of four weeks of stringent lockdown restrictions.

Reuters

China's capital sharpens COVID screening to prevent Shanghai-like chaos

Beijing closed some schools and public spaces on Thursday, as most of the Chinese capital's 22 million residents turned up for more mass COVID-19 testing aimed at averting a Shanghai-like lockdown.

Reuters

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2 Chinese Stocks Buy, 2 to Avoid

Record high inflation, and the resurgence of COVID-19 cases and consequent lockdowns have negatively impacted the Chinese equity market. However, fundamentally strong Chinese stocks look sufficiently stable to weather short-term losses. So, it could be wise to bet on quality Chinese stocks FinVolution (FINV) and 360 DigiTech (QFIN). However, we…

StockNews.com

Financial lobby group urges Shanghai to ease COVID rules for staff stuck in offices

A leading lobby group for global financial services firms has urged Shanghai authorities to let hundreds of exhausted staff go home after a month-long strict COVID-19 lockdown that has kept them in office buildings.

Reuters

Beijing in race to contain Covid outbreak and avoid Shanghai-style lockdown

Some residents of the capital have begun stockpiling food and supplies after witnessing scenes of the tough lockdown in Shanghai

Evening Standard

Wall Street Banks Slash Chinese Companies' Profit Forecasts - Read Why

Some Wall Street banks slashed their profit estimates for Chinese companies, citing the recent Covid resurgence and subsequent lockdowns, Bloomberg reports. China's Covid Zero policy has dealt a heavy blow to the economy, as stringent restrictions pressure supply chains and chill consumption. A week-long lockdown that shut down much of Shanghai…

Benzinga

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Oil Prices Stable Amid Balancing Act Of Russia Supply Fears and Asian Demand Concerns On COVID-19 Restrictions

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0.30%, to $105.25 a barrel by 0823 GMT. U.S.…

Benzinga

China’s Capital in Race to Detect COVID Cases, Avoid Shanghai’s Distress

Millions of people in Beijing took their second COVID-19 tests of the week on Wednesday as the Chinese capital tried to keep an outbreak numbering in the dozens from spiraling into a crisis like the one the locked-down city of Shanghai is enduring. Evidence that Shanghai's month-long isolation has become…

Asharq Al-Awsat

Beijing braces for COVID lockdown with mass testing and panic buying

One woman bought enough food for three months.

Axios

Shanghai Composite Index Rose 2.49% on Wednesday

Shenzhen Component Index closed up 4.37%

Caixin Global

Shanghai seeks 'societal zero COVID' with rounds of testing

Shanghai city authorities said Wednesday they will start rounds of testing over the next few days to determine which neighborhoods are safe to allow a limited amount of freedom of movement

The Independent UK

China's capital in race to detect COVID cases, avoid Shanghai's distress

Millions of people in Beijing took their second COVID-19 tests of the week on Wednesday as the Chinese capital tried to keep an outbreak numbering in the dozens from spiralling into a crisis like the one the locked-down city of Shanghai is enduring.

Reuters

Chinese police build CAGES around homes in world's strictest Covid lockdown

People living in the Chinese city woke up to 2-metre tall fences outside - and they aren't allowed to leave their homes even if they don't have Covid

Daily Mirror

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Benzinga

Global Airline Capacity Hits New Peak In 2022 As China Demand Recovers: Reuters

Despite lengthy lockdowns in Asia's largest aviation market, global airline capacity has risen to its highest level in 2022 this week owing to a rebound in Chinese domestic demand, Reuters reported, citing travel data firm OAG. According to OAG data, global airlines added 2.5 million seats in the week ending Monday,…

Al Jazeera

China’s Beijing orders mass COVID testing; lockdown fears grow

Residents of Beijing ‘extremely nervous’ about a Shanghai-style lockdown as authorities order mass COVID testing.

The Guardian - AU

NSW mayor was ‘provided benefits’ by property developers, Icac hears

Canada Bay mayor Angelo Tsirekas allegedly received overseas trips in exchange for favourable council decisions, watchdog told

Caixin Global

Shanghai Composite Index Fell 1.44% on Tuesday

Shenzhen Component Index closed down 1.66%

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The Independent UK

Beijing enforces mass COVID testing, closes neighborhoods

Beijing was enforcing mass testing and closing down access to neighborhoods as China’s capital sought to contain a new COVID-19 outbreak

Asharq Al-Awsat

Beijing Expands Mass Testing as Lockdown Fears Grow

Beijing on Tuesday launched mass coronavirus testing for nearly all its 21 million residents, as fears grew that the Chinese capital may be placed under a strict lockdown like Shanghai. China is trying to contain a wave of infections in Shanghai -- its biggest city -- which has been almost…

Evening Standard

Covid camps, fenced-off apartments and workers forced to sleep in factories — inside Shanghai’s lockdown

More than 25 million residents have been shut inside their homes for four weeks while officials battle to contain the city’s worst Omicron surge to date. As fences go up around housing blocks with no end to the lockdown in sight, Ed Tucker reports from China’s Covid frontline

Reuters

Beijing to test 20 million for COVID in bid to avert Shanghai lockdown misery

Three-quarters of Beijing's 22 million people lined up for COVID-19 tests on Tuesday as authorities in the Chinese capital raced to stamp out a nascent outbreak and avert the debilitating city-wide lockdown that has shrouded Shanghai for a month.

Tribune News Service

Xi puts ideology before economy with market-busting lockdowns

China’s worst equity selloff since early 2020 reflects a growing concern about President Xi Jinping: He can’t afford the political costs of shifting from a COVID Zero strategy that is pummeling the economy.

Caixin Global

Editorial: Resumption of Work and Production Not Solely in the Hands of Enterprises

Governments at all levels should issue practical policies to coordinate the fight against Covid-19 and promote economic development

Caixin Global

Shanghai Composite Index Fell 5.13% on Monday

Shenzhen Component Index closed down 6.08%

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