SHANGHAI—More than half of U.S. multinational companies in China have reduced their annual revenue projections, mostly due to the recent COVID-19 outbreak in Shanghai, according to a joint survey by the American Chambers of Commerce in Shanghai and Beijing published on Friday. Responses to the survey, conducted with 167 companies operating throughout China including 76…
Shanghai COVID-19 Curbs Prompt Half of US Firms in China to Cut Revenue Forecasts: Survey
China’s Farmers Face Fertilizer Crunch as COVID-19 Measures Hamper Deliveries
April 1, 2022
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Asia & PacificBusiness & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyCOVIDdeliverieseconomyFarmersfertiliserhamperINSIDE CHINAInternationalMarketsWorld
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BEIJING—China’s COVID-19 curbs are disrupting the supply of fertilizer to the country’s northeastern bread basket just a month away from spring planting, threatening this year’s corn and soybean crops if not resolved soon. Farmers typically have fertilizer prepared in early April before applying to fields later in the month during planting. But China’s worst outbreak…
Property Developer Meltdown in China
April 1, 2022
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News Analysis China’s big property developers are increasingly weak, and through the pressure of local officials, unloading risk onto the country’s financial system and Beijing itself. Business news about China’s property developers on March 29 demonstrates multiple new fissures and risks in China’s already lagging economy. The Financial Times revealed that the West’s Big Four…
China Evergrande to Sell Crystal City Project for $575 Million
April 1, 2022
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China Evergrande Group said on March 30 it will sell its Crystal City Project in the eastern city of Hangzhou for 3.66 billion yuan ($575 million) to two state-owned firms as the group’s liquidity issues dampen the progress of its projects. The firm is selling the land-use and building ownership rights for the project, which…
Documentary Reveals China Eastern Airlines Maintenance Procedure, Casts Doubt on MU5735 Crash
The China Eastern Airlines flight MU5735 crash in March killed all 132 people on board the plane. The company’s management and safety practices are now attracting public scrutiny. A documentary titled “How China Eastern Technology’s Yunnan Branch Repair Pickle Fork,” that previously aired on the Chinese regime’s national TV network CCTV, has been circulating on…
China’s Economic Activity Contracts Rapidly Amid Worst COVID Outbreaks in 2 Years
Activities in China’s manufacturing and services sectors contracted quickly in March as local governments locked down major factory and trade hubs to curb the worst resurgence of COVID-19 cases since early 2020. The Caixin/Markit survey showed on April 1 that China’s manufacturing Purchasing Managers’ Index (PMI) shrank to 48.1 in March, indicating the steepest rate of contraction…
China’s Factory Activity Contracts at Fastest Pace in 2 Years Amid Worsening COVID Outbreaks
Activities in China’s manufacturing and services sectors contracted quickly in March as local governments locked down major factory and trade hubs to curb the worst resurgence of COVID-19 cases since early 2020. The Caixin/Markit survey showed on April 1 that China’s manufacturing Purchasing Managers’ Index (PMI) shrank to 48.1 in March, indicating the steepest rate of contraction…
China’s Civil Aviation Losing Billions, Impacts of COVID-19 and Russia-Ukraine war
China’s airline industry has borne the full brunt of the tough COVID-zero policy. The Aviation authority said it may have lost billions since the epidemic began. The Russia-Ukraine war has also impacted flights that usually travel over Russian airspace. “The impact of the epidemic on civil aviation in China has far exceeded expectations.” Airline transportation…
China’s Civil Aviation Losing Billions Amid COVID-19, Ukraine War
China’s airline industry has borne the full brunt of the tough COVID-zero policy. The Aviation authority said it may have lost billions since the epidemic began. The Russia-Ukraine war has also impacted flights that usually travel over Russian airspace. “The impact of the epidemic on civil aviation in China has far exceeded expectations.” Airline transportation…
China’s Truckers Using Incomplete Records to Dodge COVID-19 Restrictions
Chinese truck drivers have been using separate cell phones to record different legs of their travel histories, allowing them to get through checkpoints and avoid possible quarantine, state-run media reported on March 30. Many have now been fined or detained for doing so. According to China’s COVID-19 rules, a person who has visited a city…
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