Page 3 - Shanghai

China's trade weakens to worst since first Covid lockdown as demand falls

The worsening trade performance is undermining a strong pillar of China's economy over the last two years, where the rise in exports to record levels have provided Chinese firms with stable demand

Ex-Chinese Prez Zemin's memorial meeting on Dec 6; body flown to Beijing

China on Thursday announced that the memorial meeting for former Chinese president Jiang Zemin who passed away on Wednesday in Shanghai will be held on December 6 here. The remains of Jiang were also transferred to Beijing from Shanghai aboard a special flight on Thursday, according to an official announcement from Comrade Jiang Zemin's Funeral Committee headed by President Xi Jinping. A memorial meeting for Comrade Jiang Zemin will be held in the Great Hall of the People, the iconic building overlooking the sprawling Tiananmen Square, in Beijing on December 6 at 10 am, and will be telecast live, the announcement said. Xi and other senior party leaders went to the airport to receive Jiang's remains, the state-run Xinhua news agency reported. Tributes for Jiang will be paid by the Central Committee of the ruling Communist Party (CPC), the Standing Committee of the National People's Congress (NPC), the Central Military Commission (CMC), and the overall high command of the Chinese ...

China's Covid curbs intensify as cases surge to highest since lockdown

China reported on Friday 10,535 new locally transmitted cases for Nov. 10, the highest since April 29, when the country's commercial hub, Shanghai, was battling its most serious outbreak

China's daily Covid cases jump to six-month high as outbreaks flare

The country reported 5,436 cases for Sunday, up 27% from the day before to the most since May 2, when Shanghai was in the midst of its months-long lockdown.

Shanghai Disneyland guests kept in closed park for Covid-19 testing

Shanghai Disneyland was closed and visitors temporarily kept in the park for virus testing, the city government announced, while social media posts said some amusements kept operating for guests who were blocked from leaving. The park closed on Monday for testing of staff and visitors, Walt Disney Co. and the city government announced. No details of a possible outbreak were released. All guests have exited the park following expedited COVID testing, Disney said Tuesday in a statement. It did not say when the park might reopen. While other countries are easing anti-virus measures, China has stuck to a severe Zero COVID strategy that aims to isolate every case. Outbreaks in Shanghai in March led to a shutdown that confined most of its 25 million people to their homes for two months. On Friday, 1.3 million residents of Shanghai's downtown Yangpu district were ordered to stay at home while they underwent virus tests. The city government appealed to anyone who had visited the Shanghai

Shanghai quietly shuts schools, gyms and bars as Covid-19 returns

The financial hub reported 47 new infections for Wednesday, the most since July 13 when a brief rise in cases revived fears of another general lockdown.

China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.

Typhoon Muifa advances to China's eastern coast after storming Shanghai

A tropical storm was advancing up China's eastern coast on Thursday after bringing typhoon-strength winds and heavy rains to Shanghai overnight. Typhoon Muifa had maximum winds of 125 kilometers (77 miles) per hour upon landfall late Wednesday but had weakened to a tropical storm by morning, according to China's National Meteorological Center. It was forecast to weaken further as it moved through eastern parts of Jiangsu province through the day. No casualties or major damage has been reported in the Shanghai area, and the city was restarting public transit on Thursday after shutting down the metro as the storm passed. Photos posted on social media showed flooding in the city of Ningbo, south of Shanghai, with scooters and cars buried in water, after massive rains overnight. However, official city government accounts only noted certain street closures. One residential complex in Shanghai said it measured 15 centimeters (6 inches) of water overnight, according to local media. Jia

Flights halted as typhoon Muifa approaches Shanghai, northeast China coast

A typhoon was headed toward the Chinese coast on Wednesday and forecast to make landfall near the port city of Ningbo later in the day. Typhoon Muifa had maximum sustained winds of 145 kilometres an hour as it moved northeast, the Hong Kong Observatory said. The storm's track would take it just east of the city of Shanghai and then inland through Jiangsu and Shandong provinces on China's northeast coast. All flights were cancelled at the Ningbo airport and more than 11,000 fishing boats returned to port in Zhejiang province, according to Chinese media reports. A requirement for a negative coronavirus test within the last 72 hours, required in much of China to enter buildings and other public areas, was suspended in Ningbo except for at airports, train stations and highway entrances.

China oil demand may shrink first time since 2002 as Covid curbs bite

China's demand for gasoline, diesel and jet fuel could fall by 380,000 barrels per day (bpd) to 8.09 million bpd in 2022, which would be the first contraction since 2002

China locks down 65 mn citizens as national holiday travel peak looms

China has locked down 65 million of its citizens under tough COVID-19 restrictions and is discouraging domestic travel during upcoming national holidays. Most of the 21 million people in the southwestern city of Chengdu are confined to their apartments or residential complexes, while in the eastern port city of Tianjin, classes have ben moved online after 14 new cases were reported, all but two showing no symptoms. China reported a total of 1,552 new cases on Monday across the nation of 1.4 billion people, the National Health Commission reported. Despite the relatively low number of infections, authorities have adhered to a zero-COVID policy requiring lockdowns, quarantines and the confining of people suspected of being in close contact with any confirmed case. Sept 10-12 is China's mid-autumn festival, the country's second-most important holiday after the Lunar New Year. The anti-virus measures have taken a major toll on the economy, travel and society in general, but China's ruli

China: Iconic Shanghai skyline goes dark as drought hits power supply

The waterfront area - known for its mix of historical and futuristic buildings - is a popular tourist destination, BBC reported.

China sentences tycoon to 13 years, fines firm $8.1 billion: Report

Xiao and Tomorrow Holdings were charged with illegally siphoning away public deposits, betraying the use of entrusted property, and the illegal use of funds and bribery

Shaky scaffolding: Why is China's real estate sector facing a crisis?

Big property developers in China, like Evergrande, are facing a massive shortfall of money, dragging down the sector along with the home demand and prices

Covid discrimination in China can cost recovered patients jobs, homes

A history of infection stored in the health apps that track each person in China can be found by employers, threatening job prospects

China's Covid zero policy could last for years as it works for Xi

It's 2025 in Beijing, five years since the start of the pandemic, and Chinese President Xi Jinping's Covid Zero policy is still an inescapable part of daily life

Sony sees 3% rise in profit despite waning interest in video games

Sony's profit edged up 3 per cent in the last quarter, weathering production setbacks from COVID-19 lockdowns in Shanghai and a trend away from video gaming as pandemic restrictions eased elsewhere

China's economy strengthens in July despite housing crisis, covid woes

The center of China's covid outbreak has shifted over the last month, with cases low in Shanghai and surrounding provinces but rising elsewhere, with some new lockdowns and restrictions being imposed

China's economy grows 0.4% in June quarter, set to miss fiscal target

China's economy logged a 2.5 per cent YoY growth in the first half of 2022, official data showed on Friday

Heatwaves hammer megacities in China's Yangtze basin, strain power grid

Over 90 red alerts issued across China for high temperatures; Shanghai issues red alerts, rare for the city; power load on grids hits record in seven provinces, regions