Tiananmen Square—China’s political center and symbol of the communist regime’s power—has been placed under strict lockdown as a COVID-19 outbreak hits Beijing. Chinese authorities have tightened control measures in the capital as per its official “Zero-COVID” policy with nine city districts being included in the lockdown orders. The Beijing Tiananmen District Management Committee announced via…
Beijing Locks Down Tiananmen Square, 9 Districts Under Strict ‘Zero-COVID’ Measures
May 25, 2022
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Australian PM Calls on Beijing to Remove Trade Sanctions
May 25, 2022
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New Prime Minister Anthony Albanese has continued Australia’s tough stance towards Beijing’s economic coercion on local exporters, telling the Chinese regime that they should remove tariffs on export products if they wished to see diplomatic ties restored. This comes after the Chinese Communist Party (CCP) Premier Li Keqiang sent a congratulatory letter to the new…
UBS, JPMorgan Slash China 2022 Growth Projections Over Regime’s ‘Zero-COVID’ Policy
UBS Group and JP Morgan Chase cut their forecasts for China’s overall growth domestic product (GDP growth this year as the country has been crippled by a series of lockdowns implemented by the regime’s strict ‘zero-COVID’ policy. UBS estimated China’s full-year economic growth would reach 3 percent, rather than 4.2 percent as earlier projected. Meanwhile,…
China’s Unrelenting Lockdowns Likely to Worsen US inflation: Analysts
May 24, 2022
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The U.S. economy is likely to face fresh inflationary pressures from China, where on-and-off lockdowns have slowed production in a wide range of areas from chips to Christmas trees, ravaging global supply chains. The Chinese regime’s heavy-handed measures to contain the fast-moving Omicron variant have brought major industrial and commercial centers, like Shanghai, to a…
Chinese Vaccine and Testing Reagent Companies Recorded Explosive Profits Amid Lockdowns and Massive Mandatory Testing
May 24, 2022
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The first quarter financial reports of COVID-19 vaccine and testing reagent manufacturers in China have shown explosive profits compared to the same period last year. China has experienced prolonged lockdowns and mandatory COVID-19 testing and vaccination nationwide since the outbreak of the pandemic. The Chinese regime’s top health body announced in April that China had…
Millions of Chinese Customers Unable to Access Their Bank Deposits
Millions of Chinese bank customers have not been able to access their deposits for more than a month. While the Chinese bank regulator claimed that its investigation found illegal wealth collecting activities involving a major shareholder and a third party platform, customers believe the regulator failed to safeguard people’s interest in the first place. On…
Airbnb Announces Domestic Business Withdrawal From China
May 24, 2022
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Airbnb announced Tuesday that it will discontinue domestic operations in China and instead focus on serving Chinese users traveling abroad amid the ongoing COVID-19 lockdowns in China. The San Francisco-based company said in a letter posted to its social media account that it will remove all Chinese listings and experiences from its platform on July…
US Companies Damaged by China’s ‘Zero-COVID’ Policy
May 23, 2022
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Business & EconomyBusiness ColumnistsChinaChina Business & EconomyCOVID zeroeconomylockdownsOpinionsupply chain disruptionThinking About China
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Commentary Beijing’s ongoing “zero-COVID” campaign is slowing both the Chinese and global economies, causing supply chain disruptions felt around the world. The harsh pandemic measures are also damaging U.S. companies in China. “Conditions in China are such that we have virtually no ability to predict our performance in China in the back half of the…
Number of China’s Cross-Border Freight Vehicles Halved in the First Four Months, Trucks Down by Nearly 60 Percent
Two things have disrupted China’s cross-border freight movement: the Chinese Communist Party’s (CCP) pandemic prevention and control measures and the Russia-Ukraine war. The latest data shows that in the first four months of this year, the number of inbound and outbound freight vehicles was half what it was during the same period last year. The…
Many of China’s A-Share Companies Lost Billions in 2021, Some May be Delisted from Domestic Stock Exchanges
Most of China’s A-share companies have disclosed their 2021 annual reports. A review of the reports indicates that 40 percent of the companies experienced losses. Noteworthy were the 11 companies that had each losses exceeding $1.47 billion and the over 200 reported at risk of being delisted from China’s two exchanges. According to the Shanghai-based…
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