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☆ China securities regulator to check brokers' financing needs after Huatai share plan
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 3 (Reuters) - China's securities regulator said it would fully check securities firms' financing needs after Huatai Securities Co Ltd (601688.SS), proposed a share placement plan that would be one of the biggest in China's brokerage industry. The China Securities Regulatory Commission (CSRC) in a statement on Tuesday said it will fully pay attention to the necessity for, and rationality of, securities firms' financing, as part of its vetting process. The comments come as Huatai Securities, one of China's biggest brokerages, said on Friday it plans to raise 28 billion yuan ($4.07 billion) in A-share and H-share rights issue. Listed brokers should reasonably determine the financing plan and method, and safeguard the legitimate rights and interests of all types of investors, especially small and mid-sized investors, the regulator said. Huatai Securities did not reply to a phone call and an email seeking comment.

☆ China reports five new COVID deaths for Dec 19 vs 2 a day earlier
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: 1 min

Dec 20 (Reuters) - China reported five new COVID-19 deaths for Dec. 19, compared with two the previous day, increasing the nation's fatalities to 5,242 the National Health Commission said on Tuesday. The country reported 2,722 new symptomatic COVID-19 infections on Dec. 19, compared with 1,995 a day earlier. Excluding imported infections, China reported 2,656 new local cases, up from 1,918 a day earlier. As of Dec. 19, mainland China had confirmed 383,175 cases with symptoms. Reporting by Shanghai newsroom; Writing by Bernard Orr; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ China reports two new COVID deaths for Dec 18 vs none a day earlier
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Dec 19 (Reuters) - China reported two new COVID-19 deaths for Dec 18, compared with none the previous day, increasing the nation's fatalities to 5,237, the National Health Commission said on Monday. The country reported 1,995 new symptomatic COVID-19 infections on Dec. 18, compared with 2,097 a day earlier,Excluding imported infections, China reported 1,918 new local symptomatic cases, down from 2,028 a day earlier. As of Dec. 18, mainland China had confirmed 380,453 cases with symptoms. Official figures have become an unreliable guide as less testing is being done across the country following the recent easing of zero-COVID policies. Reporting by Shanghai newsroom; Writing by Liz Lee; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ China to maintain ample liquidity in 2023 to implement proactive fiscal policy - state media
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 17 (Reuters) - China will maintain reasonably ample liquidity in financial markets while better serving needs from the real economy next year, state media quoted a vice governor of the People's Bank of China (PBOC) as saying on Saturday. Monetary policy in 2023 will ensure sufficient amount of liquidity and the structure will be accurate to aid key sectors, PBOC Deputy Governor Liu Guoqiang said. "Funding cost will remain reasonably flexible, with little ups and downs," Liu was quoted by state broadcaster CCTV as saying. At the same forum, Vice Finance Minister Xu Hongcai said China will also implement a proactive fiscal policy next year, setting a reasonable deficit ratio and the size of local government special bonds. China will "appropriately expand the areas where special government bond funds can be invested and used as capital," CCTV reported Xu as saying.

☆ Shanghai asks schools to hold classes online from Dec. 19
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Dec 17 (Reuters) - Shanghai's education bureau has asked most grades in primary, middle and high school to hold classes online from Monday as worsening COVID-19 infections hit major cities across China. The bureau on Saturday also asked kindergartens and childcare centres in the financial hub to shut all in-person classes from Monday, according to an online statement. China last week jettisoned some of the world's toughest anti-COVID curbs and is now experiencing a spike in infections, with fears COVID could sweep across its 1.4 billion population during next month's Lunar New Year holiday. Reporting by Shanghai Newsroom; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ China Meheco Group shares jump after agreement to import Pfizer's COVID treatment paxlovid
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Dec 15 (Reuters) - Shares of China Meheco Group (600056.SS) surged after the Chinese drug seller signed an agreement with Pfizer Inc (PFE.N) to import and distribute the U.S. drugmaker's oral COVID-19 treatment Paxlovid in mainland China. Meheco shares opened up 10% in Shanghai. Reporting by Shanghai newsroom; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

But other potential Chinese investors were less sure. Most investors had decided to head home ahead of Chinese New Year, said Yu. GUNFIRE, PANICNews of the hotel attack spread fast to the investors running China Town - a cluster of 10-storey blocks about 20 minutes drive away, overlooked by snow-topped mountains. After security forces secured the hotel, Yu got through to some of the guests by phone. In all, about 35 Chinese investors were in the hotel, he said - about a third of the number he estimated were in Afghanistan at the time.

China's health authority did not immediately respond to a request for comment on infections among medical staff. A few nurses at the fever clinic were tested positive, there aren’t any special protective measures for hospital staff and I believe many of us will soon get infected," Li added. A post on the Weibo social media platform recounted a recent experience at the emergency ward at Beijing Hospital. "Those who have not been to the emergency department of Beijing Hospital don't know what a mess it has become," wrote a Weibo user called Moshang. Beijing Hospital did not immediately respond to a Reuters' request for comment.

☆ China COVID infection fears fuel medical stock bets
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +3 min

China's healthcare index (.CSIHC) gained almost 1% on Monday morning, despite a 0.8% drop in the benchmark CSI300 Index (.CSI300). Hu Qiang, fund manager at Yunchuang Investment, said demand for antigen testing had just taken off. Listed medical firms are also busy fielding investors' queries about how they are preparing for a potential worsening COVID situation. Lepu Medical Technology (300003.SZ), which produces cardiovascular and diagnosis devices, told investors it would adjust production plans to meet market demand for COVID testing. Easy Diagnosis said on an investor relations platform that it was able to ramp up production quickly, as cancellation of nucleic acid testing in many places would boost demand for antigen testing at home.

☆ Factbox: China's rigid zero-COVID-19 policy starts to thaw
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

Beijing has not officially said it is ending its zero-COVID policy, but the adjustments are the clearest sign yet China is quickly pivoting away from that policy and towards letting its people live with the disease. Health officials are still warning that trends in fatalities will be closely watched in case a return to tougher measures is needed. Over the past few weeks, authorities have made varying policy changes in cities such as Guangzhou and Beijing, despite recent record infections. With jubilation, especially in big cities, frustrated by the inconvenience, uncertainty, economic toll and travel hurdles that came with zero-COVID. Also, time will tell with the winter flu season and the annual session of parliament that usually starts on March 5.

☆ Factbox: China's COVID-19 policy in flux
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +4 min

Here are questions and answers about a key turning point in President Xi Jinping's signature policy:IS CHINA ABANDONING ZERO-COVID? Changes varying by location have taken place even in cities such as southern Guangzhou and Beijing, the capital, despite recent record infections. Yet the current tally of 5,235 COVID-related deaths is a tiny fraction of China's population of 1.4 billion, and extremely low by global standards. Many, especially in big cities, frustrated by the inconvenience, uncertainty, economic toll and travel curbs accompanying zero-COVID, would welcome its end. Reporting by Beijing and Shanghai newsroom, Writing by Bernard Orr; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

SHANGHAI, Dec 5 (Reuters) - China's yuan , firmed past the closely watched 7-per-dollar level on Monday, hitting its strongest since mid-September, as Beijing eased some of its strict COVID-19 curbs, potentially attracting fresh foreign inflows. The Chinese currency was also bolstered by expectations of slower U.S. interest rate hikes, which knocked the dollar index to near five-month lows. But some warn that China's road for economic recovery could be bumpy and that the yuan will remain volatile. The onshore yuan jumped roughly 1.4% to as high as 6.9507 on Monday morning, its strongest since Sept. 13, tracking the central bank's firmer midpoint guidance . Last week, the yuan jumped about 1.6%, its biggest weekly gain since 2005 amid expectations authorities will continue to loosen strict COVID curbs.

☆ China reports 34,980 new COVID cases for Dec 1 vs 36,061 a day earlier
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

That is compared with 36,061 new cases a day earlier – 4,150 symptomatic and 31,911 asymptomatic infections, which China counts separately. Excluding imported infections, China reported 34,772 new local cases, of which 4,233 were symptomatic and 30,539 were asymptomatic, down from 35,800 a day earlier. read moreChina's capital Beijing reported 942 symptomatic and 3,026 asymptomatic cases, compared with 1,023 symptomatic and 4,020 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported 26 symptomatic cases and 209 asymptomatic cases, compared with 23 symptomatic cases and 174 asymptomatic cases a day before, the local health authority reported. Chongqing reported 189 new symptomatic locally transmitted COVID-19 infections and 6,347 asymptomatic cases, compared with 206 symptomatic and 6,433 asymptomatic cases the previous day, local government authorities said.

☆ China Evergrande auto unit to lay off 10% of workers -source
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Dec 2 (Reuters) - China Evergrande Group's (3333.HK) electric vehicle unit plans to lay off 10% of its workers, a source familiar with the matter said on Friday. The company, China Evergrande New Energy Vehicle Group Ltd (0708.HK) also plans to suspend salary payments to 25% of its workers for between one and three months, the source said. The EV unit is key for Evergrande, once China's top-selling developer and now at the centre of the country's property crisis. Chairman Hui Ka Yan has vowed to shift the group's primary business within 10 years from real estate to the automobile venture, which has itself struggled for capital. Reporting by Shanghai Newsroom; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese papers go black in mourning for late leader Jiang Zemin
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +3 min

[1/6] A Chinese flag is lowered to half-staff, following the death of former Chinese President Jiang Zemin, in Shanghai, China, December 1, 2022. REUTERS/Aly SongBEIJING, Dec 1 (Reuters) - Chinese newspapers turned their front pages black on Thursday and flags were put at half mast in mourning for the death of former president Jiang Zemin, whose death has prompted a wave of nostalgia for the more liberal times he oversaw. Jiang died in his home city of Shanghai just after noon on Wednesday of leukaemia and multiple organ failure. "Beloved comrade Jiang Zemin will never be forgotten," it said in its headline, above a story republishing the official announcement of his death. "Having someone educated as leader really is a good thing, RIP," wrote one user on WeChat adding a candle emoji.

☆ China records drop in new daily COVID cases for Nov. 28
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

On Monday, China posted a record daily high of 40,347 cases – 3,822 symptomatic and 36,525 asymptomatic infections, which China counts separately. As of Nov. 28, mainland China had confirmed a total of 315,248 COVID cases with symptoms. On Monday, China's capital Beijing reported 957 symptomatic and 3,429 asymptomatic cases, compared with 840 symptomatic and 3,048 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported 20 symptomatic cases and 158 asymptomatic cases, compared with 16 symptomatic cases and 128 asymptomatic cases a day before, the local health authority reported. Chongqing reported 209 new symptomatic locally transmitted COVID-19 infections and 8,583 asymptomatic cases, compared with 238 symptomatic and 9,447 asymptomatic cases the previous day, local government authorities said.

☆ China's stocks, yuan tumble as COVID protests rattle nerves
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

A U.S. crackdown on Chinese tech giants citing national security concerns also weighed on shares of technology firms. Nevertheless, the social unrest and rising coronavirus cases had fuelled expectations of an earlier end to China's zero-COVID policy, putting a floor under stocks and boosting tourism and consumer shares. "The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. While state media has not reported the protests, photos and videos of the protests circulated on social media. "The demonstrations ... mean the current COVID policy mix is no longer politically sustainable.

☆ Shanghai reports 16 symptomatic, 128 asymptomatic COVID cases for Nov 27
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Nov 28 (Reuters) - Shanghai reported 16 new domestically transmitted symptomatic coronavirus cases for Nov. 27, up from 11 a day earlier, while 128 local asymptomatic cases were reported, up from 119 the previous day, the city government said on Monday. Four cases were reported outside quarantined areas, compared with four the day before. Shanghai recorded no COVID-19-related deaths for Nov. 27, unchanged from a day earlier. Reporting by Shanghai newsroom; Writing by Bernard Orr; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ China reports another daily record of COVID cases as protests ripple across China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +2 min

That compares with 39,791 new cases a day earlier – 3,709 symptomatic and 36,082 asymptomatic infections, which China counts separately. Excluding imported infections, China reported 40,052 new local cases, of which 3,748 were symptomatic and 36,304 were asymptomatic, up from 39,506 a day earlier. China's capital Beijing reported 840 symptomatic and 3,048 asymptomatic cases on Sunday, compared with 747 symptomatic and 3,560 asymptomatic cases the previous day, local government data showed. Financial hub Shanghai reported 16 symptomatic cases and 128 asymptomatic cases, compared with 11 symptomatic cases and 119 asymptomatic cases a day before, the local health authority reported. Chongqing reported 238 new symptomatic locally transmitted COVID-19 infections and 9,447 asymptomatic cases, compared with 194 symptomatic and 8,667 asymptomatic cases the previous day, local government authorities said.

☆ Beijing reports 840 symptomatic, 3,048 asymptomatic COVID cases for Nov 27
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Nov 28 (Reuters) - China's capital Beijing reported 840 symptomatic new locally transmitted COVID-19 infections and 3,048 asymptomatic cases for Nov. 27, local government authorities said on Monday. This compared with 747 symptomatic and 3,560 asymptomatic cases the day before. Authorities said 474 cases on Sunday were found outside quarantined areas. Reporting by Shanghai newsroom; Writing by Bernard Orr; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Later on, they shouted, “lift lockdown for Urumqi, lift lockdown for Xinjiang, lift lockdown for all of China!”, according to a video circulated on social media. [1/3] Workers in protective suits keep watch behind a barrier at a sealed restaurant area, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 26, 2022. Some posted screenshots of street signs for Wulumuqi Road, both to evade censors and show support for protesters in Shanghai. Shanghai's 25 million people were put under lockdown for two months earlier this year, an ordeal that provoked anger and protest. A video shared with Reuters showed Beijing residents in an unidentifiable part of the capital marching around an open-air carpark on Saturday, shouting "End the lockdown!"

☆ China reports 32,943 new COVID cases for Nov 24 vs 31,656 a day earlier
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, Nov 25 (Reuters) - China reported 32,943 new COVID-19 infections on Nov. 24, of which 3,103 were symptomatic and 29,840 were asymptomatic, the National Health Commission said on Friday. That compared with 31,656 new cases a day earlier – 4,010 symptomatic and 27,646 asymptomatic infections, which China counts separately. Excluding imported infections, China reported 32,695 new local cases, of which 3,041 were symptomatic and 29,654 were asymptomatic, up from 31,144 a day earlier. As of Nov. 24, mainland China had confirmed 300,619 cases with symptoms. Reporting by Shanghai newsroom; Writing by Bernard Orr; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Beijing reports 424 symptomatic, 1,436 asymptomatic COVID cases for Nov 24
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Nov 25 (Reuters) - China's capital Beijing reported 424 symptomatic new locally transmitted COVID-19 infections and 1,436 asymptomatic cases for Nov. 24, local government authorities said on Friday. This compared with 509 symptomatic and 1,139 asymptomatic cases the day before. Authorities said 400 cases on Thursday were found outside quarantined areas. Reporting by Shanghai newsroom; Writing by Bernard Orr; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ China COVID infections hit record as economic outlook darkens
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Nov 24 (Reuters) - China reported a record high number of COVID-19 infections on Thursday, with cities nationwide imposing localised lockdowns and other curbs that are darkening the outlook for the world's second largest economy. The brokerage cut its GDP forecast for the fourth quarter to 2.4% year-over-year from 2.8%, and also cut its forecast for full-year growth to 2.8% from 2.9%. China recorded 31,444 new local COVID cases for Wednesday, breaking the record set on April 13, when Shanghai was in a city-wide lockdown that would last two months. China stocks fell on Thursday as concerns over the record-high caseload overshadowed optimism from fresh economic stimulus. The bank has also lowered its GDP growth forecast for next year to 4.0% from 4.3%.

☆ For Chinese soccer fans, World Cup highlights COVID lockdown blues
▼ + stars: | 2022-11-24 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

[1/3] People wearing face masks sit at a bar decorated to celebrate FIFA World Cup Qatar 2022, amid the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 23, 2022. wrote another, mocking testing requirements in China that in some places are now daily amid a resurgence of cases. Comments like these have flooded Chinese social media since the World Cup began on Sunday night, a sign that some Chinese feel they have found a safe space to vent over the country's COVID policies. "My biggest takeaway from watching the world cup: no one is wearing a mask, and no one is afraid of the pandemic!" "The Qatar world cup tells us that the rest of the world has returned to normal," wrote another Weibo user.

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