Beijing xian shanghai

Representative Image Families in Beijing rushed to stock up on food. Supermarkets stayed open late. Residents endured long lines for mandatory testing. China’s stock markets plunged. A fresh coronavirus outbreak in China’s capital has raised concerns that Beijing could become, after Shanghai, the next Chinese megacity to put life on hold to contain the spread of the omicron variant. The central government has leaned heavily on lockdowns despite their high social and economic costs, in pursuit of Communist Party leader Xi Jinping’s “zero-COVID” strategy of eliminating infections. On Monday, the Beijing government said 70 coronavirus cases had been found in Beijing since Friday. Nearly two-thirds have been in the district of Chaoyang, which ordered all 3.5 million residents to take three PCR tests over the next five days. In other cities, mass testing in response to initial coronavirus cases has sometimes been a prelude to stringent lockdowns, like the four-week one in … [Read more...] about COVID Outbreak in Beijing Prompts Panic Buying and Lockdown Fears

Share to Twitter Share to Linkedin WuXi STA, a contract research, development, and manufacturing service provider to the pharmaceutical industry, has broken ground on a 190-acre pharmaceutical manufacturing campus in Middletown, Delaware, the company said on Tuesday. First announced in June 2021, the site is WuXi STA's second facility in the United States. WuXi STA is subsidiary of Hong Kong- and Shanghai-listed WuXi AppTec, which is led by Chinese-American billionaire Ge Li. WuXi AppTec is headquartered in Shanghai. The new facility will create approximately 500 full-time jobs by 2026, the company said in a statement. The investment amount wasn’t disclosed. WuXi STA has a total of 12 sites across the U.S., Europe and Asia. The investment comes amid heightened geopolitical strains between Washington and Beijing over the recent visit of U.S. House of Representative Speaker Nancy Pelosi to Taiwan. The U.S. and China are nevertheless two of the world’s … [Read more...] about Shanghai-Based Pharma Business Breaks Ground On Delaware Facility

SHANGHAI  – China’s first batch of publicly traded rental property real estate investment trusts (REITs) was snapped up in Shanghai and Shenzhen by yield-hungry investors this week, opening up a new financing channel for the struggling real estate sector. The three newly launched REITs, based on affordable rental properties, were each more than 100 times oversubscribed among institutional investors, managers said in filings. The REITs will raise a combined 3.8 billion yuan ($56 million), based on Reuters’ calculations, and the subscription periods ended early. The rental property REIT launches come as Beijing steps up efforts to aid the real estate business, a sector that was a pillar of growth in the world’s second-biggest economy over the last two decades but is now reeling amid debt piles, mortgage boycotts and sluggish sales. China launched a public REITs market based on infrastructure projects about a year ago, but this week’s launches mark the first time the REIT market has … [Read more...] about China’s first publicly traded rental property REITs snapped up by investors

A man works at a construction site of apartment buildings in Beijing, China.  REUTERS/Thomas Peter/File photo Engen Tham, Ziyi Tang SHANGHAI/BEIJING  – China’s banking regulator is scrutinizing property sector loan portfolios of some local and foreign lenders to assess systemic risks, sources with knowledge of the matter said, as the real estate sector’s debt crisis worsens. As part of their assessment, the China Banking and Insurance Regulatory Commission (CBIRC) is looking at banks’ loan book exposure to developers to find out if those credit decisions were made according to the rules, one of the sources said. The aim of the latest regulatory probe is to measure risks to the financial system from the ongoing property sector turmoil in the world’s second-largest economy , two of the sources said. The CBIRC did not respond to Reuters requests for comment. All the sources declined to be named due to the sensitivity of the matter. The move comes as policymakers … [Read more...] about China regulator probes banks’ property loan portfolio, sources say

- A + A SHANGHAI (Aug 18): Shanghai United Imaging Healthcare Co will start public trading next Monday, the company said, after raising roughly US$1.6 billion in the biggest initial public offering (IPO) on Shanghai's tech-focused STAR Market so far this year. The Chinese producer of CT scan and X-ray devices raised 10.99 billion yuan (US$1.62 billion) in an IPO this month that was more than 3,500 times oversubscribed among retail investors. With the offering priced at 78 times earnings — more than double the industry's average multiple of 35 — United Imaging's listing will test appetite of a market clouded by gloomy growth prospects in the world's second biggest economy. Hundreds of companies are lining up to list on Chinese bourses, as Beijing encourages share and bond sales to support an economy struggling amid COVID-19 outbreaks and property woes. United Imaging, which competes with GE Healthcare, Siemens Healthcare and Philips Healthcare, benefited from … [Read more...] about China’s United Imaging debuts on Monday after biggest STAR Market IPO this year