Xi Jinping Scrambles as China’s Economy Stumbles
If Xi Jinping was hoping for an uneventful and stable 2022 before his planned “re-election” this fall, he must be disappointed. In January I wrote that “China’s economic future isn’t Continue Reading
Half of Shanghai achieves ‘zero COVID’; city presses on with ‘unsustainable’ fight
Shanghai officials said on Wednesday that half the city had achieved “zero COVID” status, but uncompromising restrictions had to remain in place under a national policy that the head of Continue Reading
WHO chief’s remarks on China’s COVID policy blocked on country’s social media
A United Nations Weibo post on the World Health Organization chief’s comments that China’s zero-tolerance COVID-19 policy is not sustainable was removed from the Chinese social media platform on Wednesday Continue Reading
Toyota warns profit to skid 20% as raw materials costs pile up
Sees FY oper profit at 2.4 trillion yen vs 3 trillion yen yr-ago Q4 operating profit down 33% on year; shares slip 5% FY oper pft target, Q4 result both Continue Reading
CHINA DATA: January-April crude imports fall nearly 5% on year despite April inflow boost
China’s crude oil imports in January-April fell 4.8% year on year despite inflows rising 6.6% to 10.51 million b/d in April as a recovery from the previous lows in March Continue Reading
China Tightens Covid Noose as Shanghai, Beijing Cases Linger
A survey showed U.S. firms in China are lowering revenue projections amid Beijing’s stringent Covid Zero strategy. Enda Curran reports. China is tightening pandemic restrictions in Shanghai and expanding a Continue Reading
China Car Sales Plunge as Shanghai Lockdown Takes Toll
China car sales plunged the most in two years in April as Covid-19 lockdowns in the auto industry hubs of Shanghai and Jilin province smashed production and kept buyers out Continue Reading
Shanghai disinfects homes, closes all subways in COVID fight
Teams in white protective suits are entering the homes of coronavirus-infected people to spray disinfectant as Shanghai tries to root out an omicron outbreak under China’s strict “zero-COVID” strategy. City Continue Reading
Shanghai tightens lockdown despite falling COVID cases
Authorities in Shanghai have again tightened anti-virus restrictions, just as the city was emerging from a month of strict lockdown due to a COVID-19 outbreak. Notices issued in several districts Continue Reading
Japan to ban ‘in principle’ Russian oil imports following G7 pledge: Prime Minister
ENEOS, Idemitsu suspend signing new Russian oil import contracts Russian supply accounts for 4% of Japan’s oil imports Japan will ban “in principle” Russian oil imports following the latest commitment Continue Reading