Amid China’s ongoing zero-COVID policy, foreign business travelers are avoiding China and a growing volume of luxury hotel apartments are vacant. A severe downturn in occupancy rates during the three-year epidemic is forcing hotel owners to sell or transfer assets. Foreign business travel to and from China has dropped a staggering amount since the pandemic…
China Dials Back Some COVID-19 Curbs, Global Stocks Jump
November 11, 2022
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The Chinese regime has announced relaxing some of the harsh COVID-19 restrictions imposed in the country, with the decision positively affecting stocks worldwide. On Nov. 11, China’s National Health Commission (NHC) announced easing the pandemic rules a day after the Politburo Standing Committee met to approve the measures. The new rules cut down centralized quarantine…
China’s Market Environment Deteriorates as Foreign Investment Confidence Drops to New Low
November 9, 2022
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China’s business outlook has dropped to a historic low while revenue forecasts reached the lowest in a decade, according to hundreds of American businesses operating in the country. An annual business report released by the American Chamber of Commerce in Shanghai (AmCham Shanghai) on Oct. 28 showed that only 55 percent of the companies surveyed…
Carnival’s Costa Cruises Cancels Asia Routes Amid No Foreseeable End to China’s Zero-COVID Policy
November 2, 2022
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Costa Cruises, a unit of U.S. cruising giant Carnival, is canceling all future Asia departures amid diminishing hopes for Beijing to ease its zero-COVID approach and stringent border restrictions in the foreseeable future. The company released a statement on Oct. 25 that it has decided to cancel its Asian home ports cruise programs and reorganize…
LIVE NOW: Elon Musk Fires Twitter’s Entire Board; Chinese Apple Factory Workers Flee Lockdown | NTD Business
Elon Musk is making major changes at Twitter. What is he doing, and could a popular video app make a comeback via Twitter? A dramatic video shows Chinese workers fleeing an iPhone plant en masse. Some of them are prepared to walk over 60 miles to escape. What are they trying to get away from?…
Elon Musk Fires Twitter’s Entire Board; Chinese Apple Factory Workers Flee Lockdown | NTD Business
Elon Musk is making major changes at Twitter. What is he doing, and could a popular video app make a comeback via Twitter? A dramatic video shows Chinese workers fleeing an iPhone plant en masse. Some of them are prepared to walk over 60 miles to escape. What are they trying to get away from?…
Hong Kong COVID-19 Quarantine Requirement Reduced to “0+3” and Rapid Antigen Test Allowed before Boarding
The Hong Kong government announced four measures to facilitate the arrival into Hong Kong on Sept. 23, changing the quarantine arrangement for arrivals from “3+4” days to “0+3” days; replacing the requirement for PCR test within 48 hours before boarding with rapid antigen test (RAT) within 24 hours before boarding, and so on. The new…
Over 300 Million in 74 Cities Under COVID Lockdown Ahead of China’s 20th Party Congress
September 14, 2022
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Since late August, more than 300 million people in at least 74 cities in China have been placed under full or partial lockdown. A Chinese think tank criticized the move, describing it as having high social and economic costs to the country. The widespread shutdown comes as the Chinese Communist Party (CCP) prepares for its…
Vietnam’s Economy Grows as Businesses Exit China
September 5, 2022
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Vietnam reported positive production and operating data through July with Moody’s Analytics raising its forecast of the country’s GDP growth to 8.5 percent, making it its highest growth projection in Asia-Pacific. This comes as China to the nearby north has been showing further signs of an economic downturn. Despite a slowdown in Vietnam’s exports in…
China’s GDP Growth May Fall Below 3 Percent Amid Severe Drought, Power Crunch: Economist
September 1, 2022
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A power crunch and record heatwaves in China have disrupted factories, offices, farmlands, and many of the cities’ essential functions. Some subway stations are reportedly dimmed, with little to no lighting. Dan Wang, chief economist of Hang Seng Bank (China) told CNBC that the power crisis and droughts would likely cause China’s GDP growth to…
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