BEIJING—Chinese health authorities plan to lift Covid-19 quarantine requirements on international arrivals early next month, taking one of the country’s biggest steps to ease restrictions since the pandemic began even as case numbers remain high. China has maintained among the world’s most restrictive coronavirus lockdown measures, slowing its economy significantly and sparking anger. Following waves … Read more
SINGAPORE— Tesla Inc. suspended car production at its Shanghai plant on Saturday, extending a planned eight-day production halt at its largest worldwide plant by car output, according to people familiar with the matter. The decision to extend the work halt comes as Tesla faces a wave of Covid-19 infections among its workers and suppliers, the … Read more
U.S. stocks edged lower Monday as recession fears continued to weigh on investors. The S&P 500 fell 0.6%, while the Dow Jones Industrial Average was down about 90 points, or 0.3%. The Nasdaq Composite dropped 1.2%. Stocks are on track to end December lower, a somewhat unusual occurrence. The S&P 500 has risen in 73% … Read more
HONG KONG—China dropped many of its quarantine and testing requirements and curtailed the power of local officials to shut down entire city blocks, as the country’s leaders accelerate plans to dismantle zero-Covid controls in the wake of nationwide protests. Though widely predicted, Beijing’s retreat from its costly and increasingly unpopular pandemic regime has been faster … Read more
In recent weeks, Apple Inc. AAPL -0.34% has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly … Read more
President Xi Jinping faces a difficult choice between loosening China’s zero-tolerance Covid-19 policy or doubling down on restrictions that have locked down neighborhoods and stifled the country’s economy over the past three years. Neither option is a good one for a regime focused on stability. Stock markets around the globe and oil prices declined Monday … Read more
BEIJING—Protests are erupting in major cities in China over President Xi Jinping’s zero-tolerance approach to Covid-19, an unusual show of defiance in the country as the economic and social costs from snap lockdowns and other strict restrictions escalate. Demonstrations occurred throughout the weekend in Beijing, Shanghai and the eastern city of Nanjing, according to witness … Read more
For much of the past year, China’s economy has been reeling under Xi Jinping’s dual campaigns to rein in soaring property prices and to stamp out any traces of Covid-19 within the country’s borders. Now, as he moves to loosen pandemic restrictions, China’s leader, Mr. Xi, is signaling a reversal of his real estate crackdown, … Read more
Pedestrians on Park Avenue in New York, Oct. 12. Photo: Jeenah Moon/Bloomberg News States and cities have enjoyed a revenue high from federal pandemic relief and surging capital gains. But the buzz won’t last and the hangover could be painful, as New York’s Citizens Budget Commission warned this week. The March 2021 American Rescue Plan … Read more
SINGAPORE—Chinese leaders are considering steps toward reopening after nearly three years of tough pandemic restrictions but are proceeding slowly and have set no timeline, according to people familiar with the discussions. Chinese officials have grown concerned about the costs of their zero-tolerance approach to smothering Covid outbreaks, which has resulted in lockdowns of cities and … Read more