Hong Kong economy
Hong Kong’s jobless rate rises to 12-month high of 5.4 per cent
Rolling three-month figure from February to April up 0.4 percentage points, with about 206,100 people out of work.
The world’s supply chains have taken a battering this year from China’s zero-Covid policy, which has hampered the production and delivery of everything from bathroom taps to Apple iPhones.
As city presses ahead with second stage of eased restrictions, some industry leaders worry about manpower shortages.
Piano Land, run by Astro Ocean Cruise, is set to begin operations in the city on July 1, pending local Covid-19 situation, according to sources.
By hampering economic activity, China’s coronavirus controls are doing more damage to average life expectancy than good, a high-profile Chinese professor says.
Declining prices and contracting transactions underscore why China’s banking regulator and banks are cutting their mortgage rates in cities like Tianjin to revive the stagnating property market.
The list is still growing as more firms report financial results in the days and weeks ahead.
Strict coronavirus controls, including lockdowns, have disrupted production and dealt a heavy blow to private firms and the service sector, both major sources of job creation in China.
The end is in sight for one of the largest mass population lockdowns ever undertaken in China, after stop works and standstill orders upended daily lives and strained global supply chains close to breaking point.
China has doubled down on its dynamic zero-Covid strategy to contain coronavirus outbreaks, disrupting businesses in a string of Chinese cities.
HSBC Life, Manulife and AIA among the major insurance firms reporting strong growth of sales in the first quarter as their digital tools help to boost sales during the fifth wave of Covid-19.
The test showed how Shanghai’s authorities are determined to get business activities back on their feet, after sending the city into lockdown since April 1.
New infections of the highly transmissible Omicron variant have been declining in Shanghai since April 23, the vast majority of them showing no symptoms.
Stringent Covid-19 controls have disrupted logistics in China’s manufacturing hub, leaving small factories struggling.
Some residents in Beijing’s most populous district, Chaoyang, have endured 20 days of lockdown and at least 10 Covid-19 tests since April 25. They have no idea when or under what circumstances they will be freed.
‘Open secret’ that some boats moored at typhoon shelters are being rented out to overnight guests.
Combined effects of slower global demand, disruptions in cross-border trade and the pandemic took their toll on city, government economist says.
The city is aiming to achieve its ‘societal zero-Covid’ target by May 20, Wu Qing, the city’s executive vice-mayor, told a press briefing on Friday morning.
China’s latest coronavirus outbreak and accompanying travel restrictions have dashed hopes of recovery in the tourism sector. Many small businesses are wondering how long they can hang on.
Some 4,767 electric cars built at the Gigafactory 3 left for Slovenia on Wednesday, according to Jiefang Daily, as the US carmaker tries to make up lost ground against Chinese rivals who jumped ahead during lockdown.