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☆ Covid curbs set off rare unrest in Chinese city of Guangzhou
▼ + stars: | 2022-11-16 | by ( ) www.nbcnews.com time to read: +3 min

BEIJING — Crowds of people in the southern Chinese city of Guangzhou crashed through Covid barriers and marched down streets in chaotic scenes on Monday night, according to videos posted online, in a show of public resentment over coronavirus curbs. Neither the Guangzhou city government nor the Guangdong provincial police responded to Reuters’ requests for comment. Monday night’s scenes from Guangzhou were the latest outpouring of frustration over Covid curbs that have brought frequent lockdowns and enforced quarantines under a signature policy of President Xi Jinping that China argues saves lives. Last month, a Covid outbreak at a massive Foxconn plant that makes Apple iPhones in Zhengzhou set off chaos, with many workers fleeing, including by climbing fences, hobbling production. “It would become a testing point regarding the government’s determination to push for the relaxation of Covid control measures,” they said.

☆ China's COVID infections reach peak since late April
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +3 min

The National Health Commission reported 11,950 new COVID-19 infections for the previous day, of which 1,504 were symptomatic and 10,446 were asymptomatic. That compares with 10,729 new cases a day earlier – 1,209 symptomatic and 9,520 asymptomatic infections, which China counts separately. Excluding imported infections, China reported 11,803 new local cases, of which 1,452 were symptomatic and 10,351 were asymptomatic, up from 10,535 a day earlier. Beijing, the capital, reported 68 symptomatic and 48 asymptomatic cases, versus 64 symptomatic and 54 asymptomatic ones the previous day, local government data showed. The high-end SKP shopping mall in the capital's sprawling Chaoyang district, said it was closed on Saturday for COVID control and prevention measures.

☆ China eases Covid rules, shortening quarantine for inbound travelers
▼ + stars: | 2022-11-11 | by ( ) www.nbcnews.com time to read: +5 min

BEIJING — China on Friday eased some of its draconian Covid rules, including shortening quarantines by two days for close contacts of infected people and for inbound travelers, and removing a penalty for airlines for bringing in too many cases. Under the new rules, centralized quarantine times for close contacts and travelers from abroad were shortened from seven days to five days. The requirement for three further days in home isolation after centralized quarantine remains. Inbound passengers are transported by bus to their quarantine hotels after arriving at Pudong International Airport in Shanghai in January. “This meeting further illustrates policymakers have started to focus more on optimizing the Covid control policies,” Goldman Sachs said in a note following Thursday’s Politburo Standing Committee meeting but before Friday’s announcement.

☆ Take Five: A UK budget and trouble in crypto land
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +5 min

LONDON, Nov 11 (Reuters) - The long-awaited UK fiscal plan is (almost) here and after the ructions unleashed by September's mini-budget, markets are paying close attention. UK markets have recouped most of the maxi-losses from the mini-budget, but the outlook is grim. Reuters Graphics2/ CRYPTO CHAOSThe crypto world has been thrown into fresh chaos by a meltdown at FTX. Big banks too are starting to pare back staffing levels. September data showed a measure of underlying retail sales rising thanks to strong wage gains and savings, even as the broader number came in flat.

☆ China scraps Covid-19 flight bans, cuts quarantine for inbound travelers
▼ + stars: | 2022-11-11 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +2 min

Hong Kong CNN Business —China has reduced the amount of time travelers entering the country must spend in quarantine and removed a major restriction on international flights, as it begins to ease its stringent zero-Covid policy. Inbound international passengers will also see their pre-departure testing requirement reduced from two to one, and their mandatory centralized quarantine upon arrival cut from seven days to five days. Markets responded positively to the changes as Covid-19 restrictions have kept international investors jittery. Under the new guidelines, people who are identified as close contacts of Covid-19 cases will also have shortened quarantine at centralized government-operated facilities, down from seven days plus another three days at home, to five days and three days at home. In addition, government health officials are no longer required to report secondary close contacts in many circumstances.

☆ Three massive market overhangs have started moving in a positive direction for investors in 24 hours
▼ + stars: | 2022-11-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Three macro issues have dominated the stock market in the last six months: the Fed and inflation, Covid-19 lockdowns in China and the Russian invasion of Ukraine. In the last 24 hours, all three have moved in a manner beneficial to markets. Overnight, we got word that China was beginning to ease its Covid restrictions. And now there's word that the Russians are retreating from the strategically important Ukrainian regional capital of Kherson. Here's the point: investors have been taking down earnings estimates for months, especially in the growth sectors of technology and communication services.

☆ Residents clash with Chinese authorities over Covid rules
▼ + stars: | 2022-11-08 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

BEIJING — Police in northeastern China said that seven people have been arrested following a clash between residents and authorities enforcing Covid-19 quarantine restrictions. The violence comes as China reports new cases nationwide, with 2,230 cases reported Tuesday in the southern manufacturing and technology hub of Guangzhou. While the numbers remain relatively low, China has relentlessly pursued its strict “zero-Covid” policy of quarantines, lockdowns and daily or near-daily compulsory testing. News of the arrests appeared on social media Tuesday morning, but was erased by the country’s censors before noon. Those include the former party leader of Shanghai, where a draconian two-month lockdown earlier this year led to food shortages, confrontations with authorities and severe disruptions to global supply chains that have grown dependent on Chinese manufacturing and shipping.

☆ China's super-rich like Alibaba's Jack Ma see billions of dollars wiped from their fortunes as the economy slumps
▼ + stars: | 2022-11-08 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

China's super-wealthy have seen their fortunes tumble by the most in 24 years, per the Hurun Rich List. Alibaba founder Jack Ma's net worth dropped 29% to $25.7 billion, as tech bosses took a hit. His ranking on the rich list sank four places to ninth. Overall, the number of people with a net worth of $10 billion dropped by 29 to 56, while the number of dollar billionaires fell by 239 to 946. But Hoogewerf said that despite the declines, the rich list is still 50% bigger than five years ago.

A Covid outbreak at an American scientific research station in Antarctica has forced U.S. officials to temporarily halt all travel to the remote outpost. The agency confirmed that 10% of the research station’s population have tested positive for Covid during this recent outbreak. There are 885 people currently living and working at McMurdo Station. Though the station operates year-round, many scientists typically travel to McMurdo in November for field research during Antarctica’s summer season. It’s not yet clear what, if any, impact the outbreak could have on research and operations at the outpost.

☆ China posts 6-month high COVID count as it sticks with strategy
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +3 min

At a news conference on Saturday, health officials reiterated their commitment to the "dynamic-clearing" approach to COVID cases as soon as they emerge. China's anti-COVID measures are "completely correct, as well as the most economical and effective", said disease control official Hu Xiang. China's capital Beijing reported 43 symptomatic and six asymptomatic cases, compared with 37 symptomatic and five asymptomatic cases the previous day. Still, the annual Beijing marathon took place on Sunday morning under strict COVID protocols, after being cancelled the previous two years. Reporting by Ella Cao and Tony Munroe; Editing by Michael Perry and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ China posts 6-month high Covid count as it sticks with strategy
▼ + stars: | 2022-11-06 | by ( ) www.cnbc.com time to read: +2 min

China recorded 4,420 new locally transmitted Covid-19 infections on Saturday, the National Health Commission said, the most since May 6 and compared up from 3,659 new local cases a day earlier. At a news conference on Saturday, health officials reiterated their commitment to the "dynamic-clearing" approach to Covid cases as soon as they emerge. China's anti-Covid measures are "completely correct, as well as the most economical and effective", said disease control official Hu Xiang. China's capital Beijing reported 43 symptomatic and six asymptomatic cases, compared with 37 symptomatic and five asymptomatic cases the previous day. Still, the annual Beijing marathon took place on Sunday morning under strict Covid protocols, after being cancelled the previous two years.

☆ At one of Earth's most remote research stations, Covid is still a problem
▼ + stars: | 2022-11-04 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +3 min

An outbreak of Covid at the McMurdo Station in Antarctica has disrupted life for researchers and support staffers at the southern end of the world. The research station has a population of 885, the statement said, meaning more than 8% of those have tested positive for the coronavirus so far. The outbreak is a reminder that Covid is still a threat to close-knit workplaces and that the virus is still roiling scientific research in remote sites. Because McMurdo is such a remote location, stringent measures were implemented during past field seasons to keep Covid from circulating. “As COVID cases and population at McMurdo Station continue to increase, individuals may be assigned to rooms with COVID positive roommates.”The email encouraged physical distancing and the use of masks.

☆ China Covid: Death of boy in lockdown fuels backlash against zero-Covid policy
▼ + stars: | 2022-11-03 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

The boy’s father said his wife and child both fell ill around noon on Tuesday, showing signs of gas poisoning. The mother’s condition improved after receiving CPR from the father, but the boy fell into a coma, according to the man’s social media post. The father claimed in his social media post that the police did not show up until after he had taken his son to hospital. Demand for answersThe boy’s death also ignited anger from local residents. Videos circulating on social media show residents taking to the streets to demand an answer from authorities.

☆ Asian shares rise, dollar dips ahead of Fed policy decision
▼ + stars: | 2022-11-02 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

European markets looked set to extend the cautious optimism, with the pan-region Euro Stoxx 50 futures up 0.5%. However, traders are split on the size of the hike in December, with futures market pricing in a 44.5% probability of a 50-bps increase, according to CME's Fed tool. It fell 0.5% against the Japanese yen to 147.6 yen amid fears of intervention from authorities and thin liquidity. In commodities, oil climbed after industry data showed a surprise drop in U.S. crude stockpiles, suggesting demand is holding up. U.S. crude oil futures rose 1.4% to $89.65 per barrel, while Brent crude futures was up 1.2% at $95.82.

☆ From Apple to Disney, China's Covid curbs are again hurting business Apple to Disneyland, everyone is suffering under China's draconian Covid curbs
▼ + stars: | 2022-11-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN Business —It has been almost three years since Covid-19 first hit China, but the country’s relentless adherence to lockdowns continues to hobble business and the economy. On Wednesday, authorities imposed a seven-day lockdown of the area that houses China’s biggest iPhone assembly factory, in the central city of Zhengzhou. State media has said that many Foxconn workers are among those walking miles on the highways to escape the factory. On Wednesday, Chinese state media outlet National Business Daily said that electric carmaker Nio (NIO) shut down two factories in the eastern city of Hefei because of Covid curbs. Authorities have ramped up Covid restrictions after Xi’s sweeping power grab at the Communist Party Congress last month, and cases are rising.

☆ China is caught in a zero-Covid trap of its own making
▼ + stars: | 2022-11-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

“The new political ecology also provided more incentive for local governments to impose more draconian Covid control measures,” Huang said. Chinese health officials maintain that changing tack now would risk a huge surge in infections and deaths that could overwhelm the country’s fragile health care system. Zhengzhou, a city of 12 million, imposed sweeping lockdown measures last month after identifying dozens of Covid-19 cases. On Wednesday, the Zhengzhou Airport Economy Zone, where the Foxconn plant is located, announced new lockdown measures. As the winter approaches, experts warn that China could be hit by a new wave of infections – and a new cycle of draconian lockdowns.

☆ Fearing COVID, workers flee from Foxconn's vast Chinese iPhone plant
▼ + stars: | 2022-10-31 | by ( Ryan Woo | ) www.reuters.com time to read: +4 min

He walked through the night, keeping to a northerly route, towards his hometown of Hebi, every step taking him farther away from iPhone maker Foxconn's (2317.TW) Zhengzhou plant, the Taiwan-based group's largest in mainland China. "There were so many people on the road," Yuan told Reuters on Monday, declining to give his full name because of the matter's sensitivity. "People would be called away in the middle of work, and if they don't show up the next day, that would mean they had been taken away," Yuan said. On Sunday afternoon, the company told Reuters in an emailed statement that workers were allowed to leave if they chose to. "I'll never go back to Foxconn," said Yuan, who has since been transported to Hebi and put under quarantine.

☆ Fearing Covid, workers flee from Foxconn's vast Chinese iPhone plant
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +2 min

After enduring days of lock-in at Foxconn's vast facility in central China with 200,000 other workers, Yuan finally climbed the fences on Saturday night and escaped the complex, joining others fleeing what they feared was a widening Covid outbreak. He walked through the night, keeping to a northerly route, towards his hometown of Hebi, every step taking him farther away from iPhone maker Foxconn's Zhengzhou plant, the Taiwan-based group's largest in mainland China. "There were so many people on the road," Yuan told Reuters on Monday, declining to give his full name because of the matter's sensitivity. "People would be called away in the middle of work, and if they don't show up the next day, that would mean they had been taken away," Yuan said. On Sunday afternoon, the company told Reuters in an emailed statement that workers were allowed to leave if they chose to.

☆ U.S. business sentiment in China hits record low as zero-COVID persists, survey shows
▼ + stars: | 2022-10-28 | by ( Josh Horwitz | Scott Murdoch | ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 28 (Reuters) - Optimism among U.S. businesses in China has hit record low levels, an annual survey showed on Friday, as competitive, economic, and regulatory challenges compound the stresses already imposed by Beijing's ongoing zero-COVID policies. Just 55% of 307 companies surveyed by the American Chamber of Commerce in Shanghai and consultancy PwC China described themselves as optimistic about the five-year business outlook. "What keeps a lot of businesses up at night is competition and rising competition from Chinese competitors," Sean Stein, chairman of the chamber told a news conference. He added that in the past chief rivals may have been state-backed Chinese rivals, but private digital players were increasingly dominant in the local market. Reporting by Josh Horwitz Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ China's factory activity set to stall in October
▼ + stars: | 2022-10-28 | by ( Nelson Bocanegra | ) www.reuters.com time to read: +3 min

BEIJING, Oct 28 (Reuters) - China's factory activity likely showed no growth in October, with production hit by COVID-19 restrictions and as exports moderate on slowing global demand, a Reuters poll showed on Friday. read more"China's struggling growth trajectory is not just about COVID-related restrictions," said analysts at Oxford Economics in a research note. We forecast China's growth will average about 4%-4.5% over the next five years or so." The official manufacturing PMI, which largely focuses on big and state-owned firms, and its survey for the services sector, will be released on Monday. The private sector Caixin manufacturing PMI, which centres more on small firms and coastal regions, will be published on Tuesday.

☆ Business travel is making a comeback. Here's how the right choice of company card can maximize its success.
▼ + stars: | 2022-10-24 | by ( Sponsor Post | Created Insider Studios With American Express | ) www.businessinsider.com time to read: +6 min

Using the right company credit card on business trips turns an extra expense into a smart investment. In fact, 71% of respondents say they would leave their role if their employer didn't prioritize their well-being during business trips. Meanwhile, Business Platinum Cardmembers also receive access to benefits at over 600 luxury hotels and resorts in more than 30 countries worldwide. Learn more about the American Express® Business Platinum Card. Business Gold or Business Platinum Cardmembers who are enrolled or have been enrolled in the Membership Rewards programme in the last 13 months, are not eligible for the bonus.

☆ Xi Jinping's Party Congress speech: yes to zero-Covid, no to market reforms?
▼ + stars: | 2022-10-17 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Priorities presented at the political gathering of more than 2,000 party members will also set China’s trajectory for the next five years or even longer. In his speech Sunday, Xi struck a confident tone, highlighting China’s growing strength and rising influence under his first decade in power. China's President Xi Jinping speaks during the opening session of the 20th Chinese Communist Party's Congress at the Great Hall of the People in Beijing on October 16, 2022. And China’s economy is in bad shape. Meantime, a comparison between this year’s speech and the last one delivered by Xi in 2017 at the 19th party congress revealed a potentially worrying trend.

☆ Taiwan welcomes back visitors after ending COVID quarantine rules
▼ + stars: | 2022-10-13 | by ( Ann Wang | ) www.reuters.com time to read: +2 min

Travellers from Thailand on the first quarantine-free flight to Taiwan, amid the coronavirus disease (COVID-19) pandemic, receive a welcome by officials and the media at the airport in Taoyuan, Taiwan, October 13, 2022. REUTERS/Ann WangTAOYUAN, Taiwan, Oct 13 (Reuters) - Taiwan began welcoming back visitors on Thursday after finally ending mandatory quarantines to control the spread of COVID-19, with gifts of cuddly toy black bears for the first tour group that stepped off the plane shortly after midnight. Some rules remain, including a requirement for people to monitor their health for seven days after arrival and perform rapid tests on themselves. Prior to the pandemic, Taiwan was a popular tourist destination, mostly for travellers from Japan, South Korea and Southeast Asia, attracted by the island's cuisine and natural beauty. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ann Wang; Writing by Ben Blanchard; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ China's Golden Week spending plunges to seven-year low as zero-Covid batters economy
▼ + stars: | 2022-10-10 | by ( Laura He | ) edition.cnn.com time to read: +7 min

The National Day break is one of China’s longest public holidays and usually a peak season for travel and spending. But this year, people were deterred from traveling by a resurgence of the virus and stringent Covid restrictions. All the weak data point to the heavy damage of Beijing’s zero-Covid policy on consumer spending and the economy, said analysts. China’s service sector is a key source of employment, accounting for 48% of total jobs created, according to government data. “Entrepreneurs’ concerns continued to stem from recurring Covid outbreaks and the impact of related controls on the market,” Wang said.

In this article EXPE Follow your favorite stocks CREATE FREE ACCOUNTTravelers headed to Hong Kong no longer need to quarantine in a hotel upon arrival. The news came the day after Hong Kong lost its No. Expedia's search data for accommodations in Hong Kong increased 50% over the weekend, compared to the week before the announcement. Pang Yiu-kai, chairman of the Hong Kong Tourism Board, acknowledged on Tuesday that the eased rules are "expected to initially attract mainly business travelers, family visitors and returning Hong Kong residents." The easing of Covid-19 measures in Hong Kong spurred hope among residents of China that they could soon see relaxed rules as well.

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