Shanghai locks down half the city to nail growing COVID-19 outbreak

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

#coronavirus, #Covid-19, #Shanghai, #World News

File image of the Chinese city of Shanghai (Image: Shutterstock)

Shanghai will lock down the city in two phases to conduct a mass testing blitz for Covid-19, as authorities scramble to staunch a spiraling outbreak that’s challenging China’s zero-tolerance approach to the virus like never before.

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

At 5am on Monday, the city of 25 million people locked down areas east of the Huangpu River, which includes its financial district and industrial parks, for four days. The lockdown then shifts to the other half of the city, in the west, for another four days, according to a statement Sunday from the local government.

Residents will be barred from leaving their homes, while public transport and car-hailing services will be suspended. Private cars will not be allowed on the roads unless necessary. Production at Tesla Inc.’s Shanghai factory will be suspended because of the curbs, people familiar with the move told Bloomberg News.

Global Tech News Daily

The sweeping restrictions come as China experiences its worst Covid spread since the virus’s emergence in Wuhan, with 5,550 locally-acquired cases reported nationwide on Saturday. The outbreak is testing the country’s virus strategy, which is proving tougher to prosecute amid more contagious variants and is dragging on the world’s second-largest economy as the rest of the globe normalizes. Crude oil fell early Monday on concern lockdowns and other curbs could impact demand in the giant market.

The Shanghai move comes after authorities locked down the tech hub of Shenzhen in the south earlier this month, the most economically strategic city to come under such restrictions since the pandemic started. More than 3,200 kilometers (2,000 miles) to the north, Jilin, which borders Russia, saw its capital city shuttered on March 11 and days later the entire province sealed off. The region, a hub for auto-making, remains locked down.

Global Tech News Daily

Infections in Shanghai, home to the Chinese headquarters of many international companies and the country’s largest port, have climbed in recent days despite repeated and expanded testing, a key tool in China’s resource-intensive Covid Zero arsenal. The financial hub reported 2,676 new infections Saturday, up 18% from a day earlier, overtaking Jilin as the nation’s biggest Covid hot spot.

Exchange, Port

The Shanghai Stock Exchange will shift many services online, and extended the time window for listed companies to release statements to 11pm local time. Firms will also be able to apply to postpone the publication of their full-year earnings.

Shanghai’s port, the world’s biggest, will maintain operations during the lockdown, the Securities Times reported.

The lockdowns in Shenzhen and now Shanghai, two of China’s most economically significant cities, show the growing toll — and challenge — of maintaining a zero-tolerance approach to the virus amid more transmissible variants. While most countries have started to live alongside Covid, accepting it as endemic, China is maintaining its strategy of closed borders, mandatory quarantines and mass testing, even as it becomes more difficult by the day.

Experts See China Stuck in a Slowly Evolving Covid-Zero Loop

China’s economy faces its worst downward pressure since the spring of 2020, during Covid-s first wave, Nomura Holdings Inc. economists wrote over the weekend.

For Shanghai, the latest restrictions mark a departure from the city’s previous approach, which was more targeted when it came to curbs and testing. Officials there had resisted a full-blown lockdown to avoid disruption to businesses, only to see the highly infectious omicron variant continue to spread.

As Covid cases started to rise this month, Shanghai reacted by shutting schools and suspending all cross-province bus services. An increasing number of residential towers around the city have been sealed sporadically over the past few days due to suspected cases.

In its statement released Sunday night, Shanghai’s government said it will ensure basic supplies such as electricity, fuel as well as food during the lockdown periods.

Still, the surprise announcement immediately sparked a rush for groceries as residents sought to stock up on necessities ahead of the first lockdown, which is scheduled to start at 5am local time on Monday.

Over the past week, many Shanghai residents have been hoarding supplies due to uncertainty over building lockdowns — the city’s strategy until now — and a lack of delivery drivers. Shanghai police detained two men last week on suspicion of spreading rumors that the entire city was headed into a total lockdown.

Officials stressed that citizens’ emergency medical needs will be guaranteed during the lockdown.

A nurse died of asthma Wednesday night after being turned away from Shanghai East Hospital as the emergency department was closed for disinfection under Covid control rules. She subsequently died at another hospital, according to a statement from the medical center in the city’s Pudong district.

There were similar scenes earlier this year when the central city of Xi’an, home to the famed terracotta warriors, was locked down to tame a Covid outbreak. While case levels are nowhere near what is being seen in the West and even in other parts of Asia, China’s hardcore response has become disruptive, spurring President Xi Jinping to urge officials to avoid impact to the economy while continuing to suppress Covid.

READ: China Faces Deeper Consumer Blow From Covid Lockdowns

Along with Tesla, plants run by Toyota Motor Corp. and Volkswagen AG in Jilin province have been shut down for weeks due to the lockdown there. In Shanghai, financial-market traders have been sleeping at their offices to avoid building lockdowns that would prevent them from the trading floor.

News Related

OTHER NEWS

Sugar cane output sees hike 92m tonnes from 2021-22 crop year

A farmer harvests his crop of sugar cane. Thai sugar cane output for the 2021-22 crop year is expected to rise to 92 million tonnes, up from 66.6 million tonnes ... Read more »

Free trade, pandemic to head meeting agenda

Mr Poj: Business recommendations will be read for discussion. Abac Thailand Free trade and pandemic issues make up the bulk of recommendations submitted to the trade ministers' meeting held as ... Read more »

Stocks across Asia nosedive Cryptocurrency also takes a plunge

The Thai bourse plunged yesterday, in line with global stock and cryptocurrency markets, as investors worried the Federal Reserve may implement more aggressive rate hikes to tackle runaway inflation. The ... Read more »

Metaverse partnership to create tradable land NFTs

The atmosphere at Crypto Expo 2022, which kicked off yesterday at Bitec Bang Na. Arnun Chonmahatrakool The virtual world platform Metaverse Thailand has joined forces with Bitkub Blockchain Technology to create ... Read more »

Inflation forces increase in California minimum wage

SACRAMENTO, Calif. — Soaring inflation will trigger an automatic increase in California’s minimum wage next year, Gov. Gavin Newsom’s administration announced Thursday. The minimum wage will jump to $15.50 per ... Read more »

Alibaba's first Thailand data centre goes live Move comes amid cloud market boom

Alibaba Cloud, the cloud computing service arm of Chinese e-commerce giant Alibaba Group, has launched its first data centre in Thailand to capitalise on the country's cloud market and support ... Read more »

Naomi Osaka launches own sports agency Evolve after IMG exit

Naomi Osaka Four-time Grand Slam winner Naomi Osaka has started sports agency Evolve with her agent Stuart Duguid after the Endeavor-owned IMG refused to accommodate her requests for more flexibility ... Read more »

Thai gold demand sinks High prices lead to 54% drop in first-quarter purchases by consumers, says World Gold Council

YLG gold bars on display. Gold buyers in Thailand tend to be price-sensitive, according to the World Gold Council. Consumer demand for gold in Thailand fell 54% year-on-year to 3.8 ... Read more »

Nok Air has little faith in Betong route

A tourist takes snaps by the country’s largest postbox in Betong, Yala. (Photo: Dusida Worrachaddejchai) Nok Air has reported that its Betong route is in the red, recording a loss of ... Read more »

Outlook bright for Thai cosmetics, skincare products

Kesmanee Lertkitcha, chairman of Cluster Health & Beauty at The Federation of Thai Industries (FTI), forecasts Thai beauty industry to grow for the second consecutive year after first ever hiccup ... Read more »

BoT preps measures for household debt

The atmosphere at Money Expo 2022, which kicked off yesterday and runs until Sunday at Impact Muang Thong Thani. The financial exhibition offers attractive deals, including zero-interest loan rates. (Photo: ... Read more »

Ministry mulls 5 baht diesel tax cut Main goal of action is taming inflation

Motorists queue to refuel at a PTT petrol station. The reduction of the diesel excise tax by 1 baht per litre is estimated to cost the state coffers around 1.9 ... Read more »

Child safety seat price-fixing probed Vendors warned not to abuse new law

The Commerce Ministry has ordered an investigation into complaints that some vendors have marked up prices of child booster seats for cars following an announcement of a new regulation that ... Read more »

Making hybrid work Better tech the key to adapting to the hybrid workplace

The past two years of remote work have been challenging, but they would have been far more difficult without access to the tools that have allowed us to remotely work, ... Read more »

CEO of FTX crypto exchange buys big stake in Robinhood

The Associated PressFILE – This Dec. 17, 2020, photo shows the logo for the Robinhood app on a smartphone in New York. The CEO of cryptocurrency exchange FTX has bought ... Read more »

Sources: Hyundai to set $7B US plant during Biden Asia visit

ATLANTA — South Korean automaker Hyundai Motor Group is expected to announce next week that it’s building a massive electric vehicle plant near Savannah, Georgia, according to a U.S. official ... Read more »

What's causing the crypto crash? Luna and Terra aren't entirely to blame

Cryptocurrencies are making the stock market look stable these days. In the past week, the Dow Jones Industrial Average shed over 3% of its value, over 1,000 points. The tech-heavy ... Read more »

Tapestry, Sonos rise; AmerisourceBergen, Capital One fall

NEW YORK — Walt Disney Co., down 90 cents to $104.31. The entertainment giant’s fiscal second-quarter earnings fell short of Wall Street forecasts. Beyond Meat Inc., down $1.09 to $25.08. ... Read more »

Crypto meltdown prompts Yellen to call for new regulation

The Associated PressTreasury Secretary Janet Yellen testifies during a House Committee on Financial Services hearing on the Annual Report of the Financial Stability Oversight Council, Thursday, May 12, 2022 on ... Read more »

Senate confirms Powell for 2nd term as Fed fights inflation

The Associated PressFederal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, May 4, 2022 in Washington. The Federal Reserve intensified its drive to ... Read more »

Biden to speak to baby formula manufacturers about shortage

On Location: May 12, 2022 Catch up on the developing stories making headlines.The Associated Press WASHINGTON — President Joe Biden plans to speak with baby formula manufacturers and retailers Thursday ... Read more »

Nike accuses StockX of selling counterfeit sneakers, Marketplace responds by denying allegations

Photo by: Paul Steuber/Unsplash Nike filed a lawsuit against the online marketplace, StockX in February, and this was recently modified to include a complaint related to the sale of fake ... Read more »

AMC beats estimates with massive profits as moviegoers return to watch ‘Doctor Strange,' ‘The Batman'

Photo by: Clay Banks/Unsplash AMC Theaters reported a very strong revenue turnout for the first quarter, and it apparently beat the estimates. The company said that its sales for Q1 ... Read more »

Bank of Thailand 'closely monitoring' weakest baht in 5 years Central bank says it will further relax foreign exchange rules

A man holds up a newly unveiled 20-baht polymer banknote at the Bank of Thailand headquarters in Bangkok, Thailand, Jan 20, 2022. (Photo: Reuters) The Bank of Thailand (BoT) on ... Read more »

Coinbase loses half its value in a week as crypto slumps

Cryptocurrency for your retirement Fidelity will allow some customers to fund their 401ks with Bitcoin. The Associated Press SILVER SPRING, Md. — Cryptocurrency trading platform Coinbase has lost half its ... Read more »

Solar-powered drone completes round trip flight to Dokdo islets

A research team from the Korea Aerospace University developed a mini-sized drone with a wingspan of 4.2 meters and a weight of 5.2 kilograms. An unmanned solar-powered drone dubbed KAU-SPUAV-2019 ... Read more »

Callaway, Alcon rise; Wendy's, Fiverr International fall

NEW YORK — Stocks that traded heavily or had substantial price changes Wednesday: Alcon AG, up $4.54 to $69.83. The maker of eye care products reported strong fiscal first-quarter financial ... Read more »

Trump sells Washington hotel to Miami-based investor group

On Location: May 12, 2022 Catch up on the developing stories making headlines.The Associated Press NEW YORK — The lease to the Washington, D.C., hotel run by Donald Trump’s family ... Read more »

Digital payment competition heating up

Competition in the digital payment field is expected to heat up as industry players receive investment funding, including US$120 million for Opn, a Japanese fintech company which launched the Omise ... Read more »

Apple's China Engineers Keep Products Flowing as Covid Shuts Out U.S. Staff Tech giant passes more authority to local workers, uses live streaming and augmented reality to ensure products made in China come out on time

Staff based at Apple Park in Cupertino, California can remotely follow what’s happening on China’s factory floors. (Photo: Reuters) Before the pandemic, Apple Inc. sent hundreds of U.S. engineers each month ... Read more »

Innobic, Aztiq pay $475m to acquire 2 leading firms

Mr Auttapol, centre, Mr Buranin, second left, and Mr Wessman, second right, at a ceremony held to celebrate the completion of a major share purchase deal in the pharmaceutical industry. ... Read more »

Google adopts an Apple-like approach for its Pixel products

On Location: May 12, 2022 Catch up on the developing stories making headlines.The Associated Press SAN FRANCISCO — Google on Wednesday took a big step toward pushing its Pixel product ... Read more »

Spirit Airlines plans June vote on Frontier's merger offer

Spirit Airlines shareholders are scheduled to vote June 10 on a $2.9 billion buyout offer from Frontier Airlines. Shareholders will be voting, in effect, whether to take Frontier’s bid and ... Read more »

Beyond Meat shares tumble on disappointing Q1

The Associated PressFILE – Beyond Meat products are seen in a refrigerated case inside a grocery store in Mount Prospect, Ill., Saturday, Feb. 19, 2022. On Wednesday, May 11, 2022, ... Read more »

Hyundai Motor to participate in Clean Transportation Expo

The Xcient hydrogen truck will be on display in both the indoor and outdoor exhibition halls of the Expo. Hyundai Motor Co. is participating in America’s Advanced Clean Transportation Expo ... Read more »

Thai food boost sought in US

Thai restaurateurs in the United States are seeking the government's help to heighten Thai food's popularity by focusing on dishes that could spearhead the country's culinary soft power. The call ... Read more »

Minimum wage hike in spotlight JSCCIB says growth depends on pay rise

A customer purchases vegetables at Bang Yai market in Nonthaburi on May 2, 2022. (Photo: Pattarapong Chatpattarasill) The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) believes Thailand can ... Read more »

New Balance to roll out KAWHI 2 "Ocean Blue" featuring nautical elements on May 13

The uppers have “Dynomite” orange embellishments reminiscent of life rings, as well as boat-inspired motifs on the tongues, to further portray the nautical theme. New Balance will roll out its ... Read more »

S. Korea to accelerate transition to hydrogen economy under Yoon administration

When the presidential transition committee announced 110 national tasks last Tuesday, it vowed to stabilize the production and supply of “green” and “blue” hydrogen for South Korea to become a ... Read more »

M Vision organises expo to showcase digital assets

Driven by the hype surrounding crypto investment, M Vision Plc, the organiser of Thailand Mobile Expo, is holding Thailand Crypto Expo to showcase digital assets, exchanges and crypto mining equipment, ... Read more »