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Bloomberg | Bloomberg | Getty ImagesBEIJING — Local frustration with Covid controls in China has increasingly targeted virus testing requirements and the big business they've fueled. The article listed several instances of allegedly forged virus test results this year across the country, including in Shanghai and Beijing. Last week, Lanzhou city health authorities blamed one of those companies for reporting some positive virus test results as negative. In the U.S., a surge of pop-up virus testing stations raised concerns of fraud as well as identity theft. In May, the central government promoted the idea that in large cities, a Covid testing station should be within 15 minutes' walking distance.
Customers dine in at a McDonald's in Guangzhou on Dec. 1, 2022, a day after the city eased Covid restrictions on restaurant operations. BEIJING — A trickle of changes around China's Covid controls in the last 24 hours has raised hopes that broader relaxation is on its way. Local state media reports and anecdotes indicated Thursday that some people who tested positive for Covid-19 in Beijing might now be allowed to quarantine at home instead of being sent to a centralized facility. That's according to a CNBC translation of the Chinese state media report late last night. Also on Wednesday, the Guangzhou city district hardest hit by Covid said it would allow most restaurants to resume in-store dining, and entertainment venues can gradually reopen.
Covid control workers disinfect an area in Beijing on Monday, Nov. 28, 2022, where a day earlier locals had gathered to protest stringent Covid measures. BEIJING — Mainland China reported the first decline in daily Covid infections in more than a week on Monday. Local infections fell in Guangdong and Chongqing, two of the hardest-hit regions in the latest Covid wave. But the capital city of Beijing saw infections rise Monday from a day earlier, as did Shanghai, albeit at a far smaller scale. Over the weekend, students and groups of people across China held public demonstrations to protest the country's stringent zero-Covid policy.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina says progress has been made in vaccinating elderly populationWhile China did not announce any big changes to its zero-Covid policy, officials said more people over 80-years-old are receiving their booster shot. CNBC's Evelyn Cheng reports.
BEIJING — Mainland China announced significant progress Tuesday in getting Covid-19 booster shots for people "over age 80." As of Monday, 65.8% of that age category had received booster shots, an official told reporters. China also announced a new push to get its elderly population further vaccinated for Covid-19. Analysts have said that getting a greater share of the population vaccinated would help put China on the path to reopening. The Covid vaccination rate for older people in China is generally below that of the U.S. and Singapore.
Protests against Covid controls erupt across China
  + stars: | 2022-11-28 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
Demonstrators against Covid restrictions hold blank sheets of paper during a protest in Beijing in the early hours of Monday, Nov. 28. BEIJING — Rare protests broke out across China over the weekend as groups of people vented their frustration over the zero-Covid policy. The unrest came as infections surged, prompting more local Covid controls, while a central government policy change earlier this month had raised hopes of a gradual easing. People's Daily, the Communist Party's official newspaper, ran a front page op-ed Monday on the need to make Covid controls more targeted and effective, while removing those that should be removed. On Sunday, municipal authorities said temporary controls on movement should not last more than 24 hours.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople in China are losing patience with Covid controls as protests break outChina has had stringent Covid controls in place for nearly three years and it will be a process for it to get out of its current situation and reopen. CNBC's Evelyn Cheng reports.
European markets are heading for a lower open on Monday as investors keep a close eye on unrest in China as protests against strict Covid measures and lockdowns erupted over the weekend. The unrest came as infections surged, prompting more local Covid controls, while a central government policy change earlier this month had raised hopes of a gradual easing. Youth unemployment has neared 20%. Hong Kong stocks led losses in a negative Asia-Pacific session on Monday amid the unrest in China over its continued zero-Covid policy. Oil futures hovered around new 2022 lows as demand concerns over the world's second-largest consumer of oil weighed on prices.
A couple pass necessities over a Covid lockdown barrier in Guangzhou city on Nov. 17, 2022. Future Publishing | Future Publishing | Getty ImagesBEIJING — China won't likely make major changes to its Covid policy in the near future despite this weekend's protests, analysts said. Groups of people in China took to the streets over the weekend to vent their frustration, built up over nearly three years of stringent Covid controls. Separately, the People's Daily ran a front page op-ed Monday on the need to make Covid controls more targeted and effective, while removing those that should be removed. He noted how it was no longer sustainable for China's economy and society to accept continued Covid controls.
Covid restrictions have tightened in Beijing while infections keep soaring, prompting lockdowns of communities. Jade Gao | Afp | Getty ImagesBEIJING — China's capital city is grinding to a near standstill as Covid controls spread. Beijing city government did not immediately respond to a request for comment. watch nowLocal infections have surged despite gradual tightening of Covid measures over the last two weeks. Beijing city reported more than 1,800 Covid infections for Thursday, bringing the total for the month to well over 10,000.
Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Mainland China reported more than 31,000 Covid infections for Wednesday, including cases without symptoms. However, daily Covid infections with symptoms remain well below the high seen in April. Nearly 90% or more of total Covid cases reported in recent days have been asymptomatic, the data showed. But nearly all of China's 31 province-level regions have reported new Covid infections, with and without symptoms, each day. watch nowChina this month trimmed quarantine times and has announced other measures to try to make Covid controls more targeted.
Baidu got approval to charge fares for its robotaxi rides in the Beijing suburb of Yizhuang in November 2021. BEIJING — Chinese tech company Baidu said its robotaxi business in large cities is close to gaining the same traction with locals as traditional ride-hailing services. "According to our knowledge, this number is quite close to the average daily rides for traditional ride-hailing services," Li said. In Beijing, Shanghai and Guangzhou, Baidu's robotaxis — branded Apollo Go — can only operate in certain suburban areas. The company did not say whether it could charge fares for its robotaxi rides in Guangzhou or Shanghai.
BEIJING — Surging Covid infections across mainland China make it harder for the government to achieve zero-Covid without reverting to a harsh lockdown, Macquarie's Chief China Economist Larry Hu said. Larry Hu Chief China economist, Macquarie“China might have already passed the point of no return, as it's unlikely to achieve zero Covid again without another Shanghai-style hard lockdown," Hu said in a report Tuesday. flatten the curve, by tightening the Covid controls for the time being." He said Vietnam's unwinding of its Covid restrictions since fall last year could shed light on the path forward for China. Covid controls tighten in Beijing
China's housing prices fell in October due primarily to falling prices in less developed, so-called Tier-3 cities, according to Goldman Sachs analysis of official data. Future Publishing | Future Publishing | Getty ImagesBEIJING — China's real estate sector isn't yet poised for a quick recovery, despite a rally this month in stocks of major property developers. Last week, property developer stocks surged after news the central bank and banking regulator issued measures that encouraged banks to help the real estate industry. A drawn-out recoveryAnalysts differ on when China's property market can recover. "I think the real estate sector will become lesser of a drag to the economy in 2023," Tommy Wu, senior China economist at Commerzbank AG, said Wednesday.
This restaurant, along with many others in Beijing's business district of Chaoyang, had to suspend dine-in services over the weekend as Covid infections soared. BEIJING — Three people died over the weekend after contracting Covid, the first deaths from the virus that mainland China has recorded since May, when the city of Shanghai was still locked down. All three individuals, who were between the ages of 87 and 91, had pre-existing health conditions and lived in Beijing, according to state media. Beijing city tightened Covid controls heading into the weekend as the local case count rose to several hundred a day, including infections with and without symptoms. Restaurants, primarily in Beijing's business district of Chaoyang, could only offer take-out or delivery.
Alibaba broke tradition by not releasing total sales for its Singles' Day shopping festival this year. BEIJING — China's Covid controls disrupted Alibaba 's ability to deliver packages, the company said, dragging down the e-commerce giant's sales in a competitive market. Disruptions affected nearly 15% of delivery areas in China starting in October and through the 11.11 shopping festival campaign period, he said. This year, Alibaba declined for the first time to share total gross merchandise value — an industry measure of sales over time — for its flagship Singles Day shopping festival that ended Nov. 11. Rival JD.com did not share GMV for its Singles Day promotional period this year, which ran from the evening of Oct. 31 to the end of day on Nov. 11.
Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. China News Service | China News Service | Getty ImagesBEIJING — American billionaire Ray Dalio said while he's far less familiar with China's new leadership team than prior officials, he expects worries about their future policies are overdone. Here are the highlights:China's leadership reshuffle"I want to emphasize that none of the new people appear to be extremists," Dalio said. Dalio said the leadership changes mean most of the people he knew who were "reformist-globalists" are being replaced. This week, Xi and U.S. President Joe Biden met in person for the first time since Biden took office.
Covid cases have soared in China's capital city of Beijing, where many communities have been recently locked down or under tighter health monitoring as the country maintains its zero-Covid policy. BEIJING — Three indicators on China's economy in October missed expectations and marked a slowdown from September, according to data released by China's National Bureau of Statistics on Tuesday. Retail sales fell by 0.5% in October from a year ago — the first decline since May — and industrial production grew by 5%, the data showed. Analysts polled by Reuters expected retail sales would slow to 1% year-on-year growth in October, and that industrial production would also slow to 5.2% growth. Investment in real estate declined further in October on a year-to-date basis, while that in manufacturing slowed slightly from September.
Biden meets Xi amid heightened China-U.S. tensions
  + stars: | 2022-11-14 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: 1 min
U.S. President Joe Biden and Chinese President Xi Jinping held a virtual meeting in November 2021. Pictured here is a state news broadcast of the meeting outside a shopping mall in Beijing. BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping met Monday for the first time in person since Biden took office in Jan. 2021. The meeting took place in Bali, a day before the G-20 Summit is due to kick off. The two leaders held a videoconference in Nov. 2021 and, among other communication, had a call in late July.
Alibaba's Cainiao opens LatAm headquarters in Brazil
  + stars: | 2022-11-14 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +2 min
Alibaba's logistics arm Cainiao has installed lockers in Brazil for local customers to retrieve packages. CainiaoBEIJING — Alibaba' s logistics arm Cainiao announced Monday the opening of its Latin American headquarters in Sao Paulo, Brazil. Cainiao ships most AliExpress orders from China to Brazil, the company said, claiming it operates eight charter flights a week between the countries. Low-cost drones and bluetooth headphones are among the most popular products for local customers, the company said. Alibaba's logistics arm Cainiao has installed lockers in Brazil for local customers to retrieve packages.
China trims Covid quarantine time by two days
  + stars: | 2022-11-11 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
BEIJING — China reduced the quarantine time for international travelers by two days, state media said Friday. The new timeframe also applied to close contacts of Covid infections within China, the report said. In contact tracing, China said it will no longer track people beyond close contacts of Covid infections. Previously, people who were connected to those close contacts might face additional Covid restrictions. The new measures reduced the number of regional risk designations to two from three — just low and high, the report said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina cuts quarantine time for international travelers by two daysTravelers to China no longer have to stay at a centralized quarantine facility for seven days upon arrival. The new rules stipulate a five day quarantine, followed by three days of home observation. CNBC's Evelyn Cheng reports.
Guangzhou city in the southern province of Guangdong is the hardest hit in the latest Covid outbreak. BEIJING — Covid infections are surging in the capital of China's export-heavy Guangdong province, raising concerns of another drag on the national economy. Schools in eight of 11 districts in the city of Guangzhou moved classes online for most students as of Thursday. "If Guangzhou repeats what Shanghai did in spring, it will lead to a new round of pessimism on China." State-owned automaker GAC Group said its manufacturers in Guangzhou were operating normally as of Thursday morning.
China's producer price index fell year-on-year in October 2022 for the first time since December 2020. BEIJING — China's producer price index fell in October for the first time since December 2020, dragged down by drops in iron and steel prices, according to official data released Wednesday. The producer price index, which tracks the price of raw materials and other input costs, fell by 1.3% in October from a year ago. Changes in China's producer price index tend to precede similar changes in that of the U.S. by about one or two months, Francoise Huang, senior economist at Allianz Trade, said in October. While inflation has surged in the U.S. and Europe, China's consumer price index has remained subdued due to lackluster domestic demand.
China's Covid controls are hurting more of the economy
  + stars: | 2022-11-08 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
BEIJING — China's Covid situation is only getting worse, preventing the country from stamping out the virus and relaxing controls. As of Monday, China's Covid controls negatively affected 12.2% of national GDP — up from 9.5% a week ago, according to Nomura's model. Recent Covid infections have been reported in more than 20 of China's 31 province-level regions. It was not immediately clear whether there was any impact on factory production in the South China region. China's Ministry of Commerce did not immediately respond to a CNBC request for comment.
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