Authorities in China’s southern city of Guangzhou announced over 2,000 new COVID-19 infections on Nov. 8. Strict COVID measures have been implemented in the city of 19 million, a major manufacturing center. As the city tries to avoid a blanket lockdown like the one in Shanghai earlier this year, over 30,000 Guangzhou residents have been…

American Consultation Firm Henley & Partners Group published its latest World’s Richest Cities Report on Sep 13. The report confirmed that New York, Tokyo, and San Francisco are the cities with the most millionaires. With Hong Kong dropping quickly from the 8th in 2021 to the 12th this year, it has become the most affected…

Thirty-one provinces and municipalities in China were reported to be dealing with COVID-19 outbreaks, with some cities imposing tightened epidemic prevention and control measures. The new round of lockdowns is disrupting Premier Li Keqiang’s intention to rescue the economy, say several political analysts. According to Chinese official media, 31 of the country’s 34 provincial administrative…

The wave of mass migrations from Hong Kong continues, and the pandemic measures have also discouraged foreigners from coming to Hong Kong. Singapore, which has always been regarded as a competitor to Hong Kong, has recently launched a new work visa program to attract talents. Scholars commented that it “gave an extra punch” to Hong…

The recent surge of Omicron infections in Xinjiang and Tibet since the beginning of August has prompted Chinese authorities to impose “zero-COVID” policies on several major cities in the area, with more locations being added to the lockdown list. On Aug. 10, Urumqi, the capital and the largest city of Xinjiang, was put under a…

China’s reliance on mass testing to achieve “zero-COVID” has brought huge profits to virus test-kit makers. A number of biotech companies have reported substantial profit growth for the first half of 2022. Among them, Tianjin City’s Jiu’an Medical Electronics Co., Ltd. posted a net profit of over 15.1 billion yuan ($2.24 billion), an increase of…

News Analysis In a recent economics symposium, Chinese Premier Li Keqiang emphasized the need to stabilize the economy and revealed that China’s current economic situation is “very challenging.” But on June 29, Chinese Communist Party leader Xi Jinping reiterated the “zero-COVID” policy and called the policy important in affecting economic development and advancement. The clash…

A large number of newly registered PCR testing companies have sprung up in a short period of time in China due to the ruling Chinese Communist Party’s (CCP) enforcement of a strict zero-COVID policy that requires mass PCR testing on a regular basis. However, along with the surge, there have been increasing reports of companies…

Shanghai’s strict COVID lockdown has worsened China’s ability to attract foreign investors, a Chinese investment expert has said. Huang Feng, president of the Shanghai Association for Foreign Investment, told a video conference that the effect of the Shanghai lockdown has created the direst foreign investment situation that he has seen in 30 years. Shanghai, China’s…

Small and medium-sized businesses in China have suffered dearly under the country’s dynamic zero-COVID policy amid an economic downturn. Since February 2022, China’s Small and Medium Enterprise Development Index (SMEDI) has declined for three consecutive months. “Nearly all customer flow, logistical flow, and cash flow [for small and medium-sized private businesses] have stranded,” Mr. Ma,…