Chinese President Xi Jinping has reaffirmed the country’s zero-tolerance approach to Covid-19 even though “it might hurt the economy”. On a visit on Wednesday to Wuhan, the central Chinese city where the coronavirus was first detected, Xi said China could not afford to pursue herd immunity or “lie flat” – a reference to living with...
China’s export growth rebounded in May as manufacturing activity in Shanghai gradually returned to normal towards the end of its two-month coronavirus-induced lockdown, but any forward momentum is set to fade amid rising uncertainties, analysts said. Exports grew by 16.9 per cent last month from a year earlier to US$308.25 billion, compared to 3.9 per cent...
Hong Kong manufacturers are expecting to endure short-term pains caused by Shanghai’s coronavirus lockdown, but some are hopeful that a mid-May resumption of all port activity could help mitigate the impact. Some businesses have resumed production in Shanghai under a “closed-loop” system, where workers are required to live on-site and maintain zero contact with outsiders...
Shanghai’s automotive industry is teetering on the edge of a precipice, as a citywide lockdown amid a Covid-19 outbreak idled assemblies and parts makers that together produced one in every nine of the automobiles produced in China last year. Automakers may have to stop all production by May if the supply chain disruptions caused by Shanghai’s lockdowns...
The Australian government is to announce that a new port will be built in the strategically important city of Darwin after the current facilities were leased to a Chinese company, the Australian Broadcasting Corporation reported on Thursday. It’s unclear whether the new port would be solely for industrial use, or would be a facility that...
At present, the global economic and trade industrial landscape is facing huge adjustments, and the curtain is opening on the restructuring of the international industrial and supply chain. On March 28, the China Center for International Economic Exchanges released a report entitled “Digital Platforms Facilitate Participation of Small-and Medium-Sized Enterprises in Global Supply Chain Competition”,...
Due to the COVID-19 pandemic, companies around the world have faced a lot of difficulties in their supply chains. This situation forced many companies to reconsider their corporate strategy, because for several years, companies have worked under the system known as just-in-time (JIT), which focuses on keeping inventory to a minimumusing flexible contracts at short-term...
A two-stage coronavirus lockdown in the financial hub of Shanghai is raising fears among foreign investors that China will stick to its zero-Covid strategy longer than first thought, while putting pressure on businesses and making the country one of the last in the world to emerge from the pandemic. The snap decision, which comes only...
China hopes the United States will remove additional tariffs on Chinese goods as soon as possible to return bilateral economic and trade ties to normal, the Ministry of Commerce said on Thursday. In response to the US decision to reinstate certain “Section 301” tariff exclusions for Chinese products, Shu Jueting, the ministry’s spokeswoman, said at...
The authorities said fewer cases were being found by mass community tests. Photo: AFP The southern Chinese city of Shenzhen is prepared to allow business to reopen and resume production as the Covid-19 outbreak appears to be getting under control, the local authorities said on Thursday. Huang Qiang, deputy secretary general of the city’s government, told a...