Seeing China’s financial hub Shanghai, home to 25 million, come to a standstill amid more than four weeks of lockdown have made those in Beijing nervous. The capital city has detected growing COVID-19 outbreaks and has rushed to conduct mass testing in a bid to contain the virus. Almost all 22 million inhabitants in Beijing…
China’s Lockdowns of Tens of Millions Inflicts More Pain on Global Supply Chains
Seeing China’s financial hub Shanghai, home to 25 million, come to a standstill amid more than four weeks of lockdown has made those in Beijing nervous. The capital city has detected growing COVID-19 outbreaks and has rushed to conduct mass testing in a bid to contain the virus. Almost all 22 million inhabitants in Beijing…
Factories in Shanghai Struggling to Resume Production Under Lockdown
May 1, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyChinese RegimeEurope-China RelationsEuropean Union Chamber of CommerceINSIDE CHINAInternational Relationslockdownresume productionShanghaisocial controlSpecial Topics
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Shanghai has now been locked down for a month under the Chinese communist regime’s “zero-COVID” policy. Daily life, manufacturing production, and supply chains have been severely disrupted. Recently, Shanghai authorities have been pushing for the resumption of production in manufacturing, but the progress has been slow, and some enterprises are having difficulty resuming work under…
PBOC Intervention Fails to Halt RMB Decline
The onshore exchange rate of RMB against the U.S. dollar stopped falling briefly on April 26 under the policy adjustment of the People’s Bank of China (PBOC), but continued falling to close at 6.6115 on April 28, down 546 basis points from the previous trading day. An expert believes that the RMB exchange rate is…
Chinese Regime Locks Down World’s Largest Wholesale Hub Under its Zero-COVID Policy
April 30, 2022
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Asia & PacificCCP VirusChinaChina Business & EconomyChinese RegimeEditor's PicksINSIDE CHINAsmall commoditiessocial controlSpecial TopicswholesaleWorldYiwuZhejiang
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The Chinese communist regime has locked down the world’s largest wholesale market—Yiwu City in China’s Zhejiang Province, since April 27 due to a COVID-19 outbreak. Experts believe that the regime’s implementation of the extreme “zero-COVID” policy in the “world’s small commodity capital” will bring a new blow to the global supply chain. According to a…
China Lockdown Cuts Supplies
April 30, 2022
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News Analysis China’s COVID lockdowns are grinding the country’s manufacturing to a halt and alarming global business leaders who depend on the country for parts and manufacturing. The CEO of Mercedes Benz, Ola Kallenius, told Bloomberg on April 29 that “new lockdowns in China, in Shanghai but also in other places in China affects the business…
China’s Internet Giants Conduct Massive Layoffs, CEOs or Founders Leave
Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies. Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in…
China’s Internet Giants Conduct Large Layoffs, See Exodus of Top Executives
Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies. Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in…
Wall Street Banks Keep Doubling Down on China
Despite an extremely challenging operating environment, Wall Street investment banks continue to be bullish on their China business. JPMorgan Chase was recently demoted as the lead underwriter for the Hong Kong IPO of a Chinese software giant after the bank published research that was unflattering to the company and the Chinese Communist Party (CCP) regime….
Partial Resumption of Work in China’s Locked-Down Cities Cannot Break the Supply Chain Bottlenecks: Analyst
Tesla’s first-quarter 2022 profit hit a record high; but on releasing the results, Tesla also said that the COVID-19 pandemic has brought significant pressure on the company’s supply chain and factory operations. At present, only a fraction of its companies in certain regions in China have resumed work. Experts in China’s industrial economy research admit…
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