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The Latest Breaking News from Shanghai

Morning Brief: Top Stories Dominating Financial Media on Friday, April 1

Reuters IEA Holds Emergency Meeting To Tackle Soaring Oil Prices

Benzinga

Most US Firms In China To Cut Annual Forecast as Business Hit By COVID-19 Curbs: Reuters

According to a joint survey by the American Chambers of Commerce in Shanghai, 54% of U.S.

Benzinga

Volkswagen China To Idle Shanghai Factory, Extends Pause In Changchun Plants Amid COVID-19 Curbs

Volkswagen Group (OTC: VWAGY) told Benzinga on Thursday it would suspend production at its factory in Anting, Shanghai, between April 1-5 due to new COVID-19 related curbs aimed at halting a resurgence in cas

Benzinga

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Shanghai Composite Index Rose 0.94% on Friday

Shenzhen Component Index closed up 0.91%

Caixin Global

Shanghai moves to 2nd part of lockdown as testing lines grow

About 16 million residents in Shanghai are being tested for the coronavirus as a staged lockdown shifts to the western half of China’s biggest city and financial capital

The Independent UK

Covid lockdown extended in Shanghai as outbreaks put economy on the skids

China’s largest city and financial powerhouse is struggling to cope with the country’s worst outbreak since the start of the pandemic in Wuhan

The Guardian - AU

As Shanghai expands COVID lockdown, life on hold in city of 26 million

China's commercial hub of Shanghai ground to halt on Friday after the government locked down most of the city's 26 million residents to stop the spread of COVID-19, even as official numbers put local cases falling for the second day in a row.

Reuters

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Opinion: In Crisis Mode, Shanghai Should Stick to Zero-Covid Approach

A UCLA professor’s long-term coexistence plan won’t help and could hinder Shanghai’s response to the current crisis, a Zhejiang University professor argues

Caixin Global

Domino's China Operator DPC Dash Delivers Hong Kong IPO

Key takeaways: Domino’s China operator DPC Dash has filed for a Hong Kong IPO that could raise up to $100 million and value the company at around $500 million Company has cashed in on China’s recent shift to takeout dining, posting 18.7% same-store sales growth last year By Doug Young

Benzinga

Report: Tesla Giga Shanghai Will Extend Plant Suspension

The Tesla Giga Shanghai plant has suspended production of electric cars for several days, but it might not be the end of COVID-19-related lockdown disruption.

InsideEVs

China reopens one city as Shanghai lockdown enters 2nd phase

The city of Shanghai is preparing to reopen its eastern half and shut its western half, while authorities elsewhere are lifting a citywide lockdown in the province hardest hit by China’s ongoing omicron-driven coronavirus outbreak

The Independent UK

Shanghai Composite Index Fell 0.44% on Thursday

Shenzhen Component Index closed down 1.19%

Caixin Global

Shanghai Urges COVID Lockdown Patience as Case Numbers Drop for First Time in 2 Weeks

Shanghai authorities on Thursday appealed to residents to keep cooperating with tight curbs imposed to stop COVID-19 spreading, saying they recognized their frustrations as China's most populous city entered the fourth day of a two-stage lockdown. The plea for patience came as the Chinese financial hub, home to 26 million…

Asharq Al-Awsat

China manufacturing weakens as anti-virus controls tighten

An official survey shows China’s manufacturing activity fell to a five-month low in March after most of Shanghai and two smaller industrial cities were shut down to fight coronavirus outbreaks

The Independent UK

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Reuters

Shanghai to expand lockdown to most residents as COVID cases rise

Shanghai is set to put the vast majority of its residents under COVID lockdown from Friday, as it expands curbs to include the western half of the city and extends restrictions in the east where people have already been forced to stay home since Monday.

Caixin Global

State Oil Giant CNOOC Cleared for $5.5 Billion Share Sale in Shanghai

China’s biggest offshore driller posts record 2021 earnings as profits jump 182% on rising output and soaring world oil prices

Caixin Global

Opinion: How Shanghai Can Pioneer a New Path for Disease Control

Amid worst Covid-19 outbreak, city could turn pandemic into manageable endemic disease using self-isolation, self-testing and advanced drugs and vaccines

Motor1

GM’s Shanghai Plant Keeps Producing As Workers Sleep On Factory Floor

The region is experiencing rising COVID-19 cases.

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Caixin Global

Shanghai Offers Support for Importing Covid Drugs and Vaccines as It Battles Outbreak

City releases a slate of new measures to keep its economy running under strict lockdown measures, including ramping up testing capacity and tax and fee cuts for businesses

France 24

Shanghai in lockdown: Large parts of Chinese city closed as Covid-19 surges

After Shanghai recently reported a new daily record for asymptomatic coronavirus infections, the city is locking down in two stages. It's the biggest step taken in the Chinese metropolis since the Covid-19 pandemic began more than two years ago. But some residents are complaining that the cost of China's strict…

Reuters

'We demand an explanation!' Shanghai residents vent COVID lockdown irritation

Frustrated and locked down, residents of Shanghai have taken to social media to vent, questioning the practicality of persisting with China's zero-tolerance approach to COVID-19 in its most populous city.

Caixin Global

Shanghai Composite Index Rose 1.96% on Wednesday

Shenzhen Component Index closed up 3.1%

Reuters

Shanghai expands COVID lockdown as new daily cases surge by a third

Authorities began locking down some western areas of Shanghai two days ahead of schedule, as new COVID-19 cases in China's most populous city jumped by a third despite stringent measures already in place to try to stop the virus spreading.

The Guardian - AU

‘Pick the shelves clean’: food shortage rap helps cut through gloom of Shanghai lockdown

Residents in China’s largest city express growing frustration with Covid measures, as well as anger over food shortages

The Independent UK

China tries to limit economic blow of Shanghai shutdown

China's leaders are trying to fine-tune their “zero tolerance” COVID strategy to rein in job losses and other costs to the world’s second-largest economy

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