Page 2 - Shanghai

Chinese President Xi's Silicon Valley of the East faces slowdown woes

The country's economic slowdown, driven in part by tensions with the US and a slumping property market, is now starting to weigh on the project

Einstein's autographed manuscript fetches Rs 10.7 cr at auction in Shanghai

A rare autographed manuscript by renowned physicist Albert Einstein explaining the development of his famous contributions to science -- theories of special relativity (1905) and general relativity (1915) -- fetched Rs 10.7 crore at the recently held Christie's '20th/21st Century Art Evening Sale'. The auction was held at the Waldorf Astoria Shanghai on September 23. The manuscript, first published in a special supplement to the New York Times on February 3, 1929, is written in German. Einstein had been commissioned to explain the development of his two most famous contributions to science: the theories of special relativity (1905) and general relativity (1915). "The rare Einstein manuscript, which marked the Classic Art category's debut in mainland China, was met with great enthusiasm, proving that the collecting appetite here is strong and ever evolving. "We look forward to reconnecting with collectors at our upcoming previews for the Autumn Auctions in Hong Kong, and at the Chin

Russian navy ships visit Shanghai as countries reaffirm military ties

A pair of Russia navy ships are visiting China as the countries reaffirm their military ties amid Russia's war in Ukraine. The Cold War-era frigates Gromkiy and Otlichnyy arrived in the financial hub of Shanghai, China's largest city and biggest port, on Wednesday for a seven-day visit. Following the port call, the ships will conduct joint drills with their Chinese counterparts focusing on ship-to-ship communications, maneuvering in formation and maritime search and rescue, state television's military channel reported Thursday. The visit follows a meeting Monday in Beijing between China's defense minister and the head of Russia's navy, the first formal military talks between the friendly neighbors since a short-lived mutiny by the Russian mercenary group Wagner. China has reassured Russia of its continued support since the uprising, and Minister of National Defense Li Shangfu told Russian Adm. Nikolai Yevmenov that China hoped for increased exchanges, joint exercises and other form

Shanghai power plant burns 800 tons of coal an hour to keep city cool

A heat wave is scorching China, killing livestock and straining electricity grids across the country. Temperatures in Beijing soared to as high as 39C (102F) on Thursday

Tesla to build new Shanghai factory for Megapack battery, says report

The company led by Elon Musk, who is visiting China this weekend, made the announcement at a signing ceremony for the project in Shanghai, the report said

Mumbai ranks 7th as preferred destination for real estate investments

Mumbai is at seventh position in Asia Pacific as a preferred destination for cross-border investments in real estate sector, according to property consultant CBRE India. The consultant on Friday released its '2023 Asia Pacific Investor Intentions Survey'. "Mumbai is ranked 7th among the 10 APAC cities and emerged as a preferred destination for cross-border investment in the region," it said. Mumbai ranks ahead of Shanghai (ranked 8), Hanoi (ranked 9) and Seoul (ranked 10) on the list. No other Indian city had featured in the list in the last two years. Tokyo topped the chart for the fourth consecutive year as the target market for cross-border investment, followed by Singapore. Vietnam continues to benefit from its status as a 'China-plus One' destination. The survey, polled more than 530 Asia Pacific-based investors across a range of investor types from developers, private investors, and REITs to institutions such as insurance companies, pension funds and sovereign wealth funds,

'Living with Covid': UK to stop publishing data, China back to work

The data is considered "no longer necessary" as the country moves to a phase of living with the virus with the help of vaccines and medicines

Facing questions over accuracy, China stops releasing Covid-19 cases data

The commission didn't provide a reason for the change in policy, but said that the Chinese Center for Disease Control and Prevention will release Covid-related info for studies and reference

Shanghai schools to go online as Covid cases soar in China: Report

Nurseries and childcare centres will also shut from Monday, according to Shanghai's education bureau, BBC reported

Tesla to suspend output at its China factory partly due to slowing demand

Consumer demand for cars in China has been dented by the country's still strict approach to Covid

Shanghai to drop Covid test rule in indoor venues, restaurants from today

Shanghai has announced measures for optimising the Covid-19 response; from Friday, negative Covid test certificates will not be needed for indoor entertainment venues and restaurants

China's trade weakens to worst since first Covid lockdown as demand falls

The worsening trade performance is undermining a strong pillar of China's economy over the last two years, where the rise in exports to record levels have provided Chinese firms with stable demand

Ex-Chinese Prez Zemin's memorial meeting on Dec 6; body flown to Beijing

China on Thursday announced that the memorial meeting for former Chinese president Jiang Zemin who passed away on Wednesday in Shanghai will be held on December 6 here. The remains of Jiang were also transferred to Beijing from Shanghai aboard a special flight on Thursday, according to an official announcement from Comrade Jiang Zemin's Funeral Committee headed by President Xi Jinping. A memorial meeting for Comrade Jiang Zemin will be held in the Great Hall of the People, the iconic building overlooking the sprawling Tiananmen Square, in Beijing on December 6 at 10 am, and will be telecast live, the announcement said. Xi and other senior party leaders went to the airport to receive Jiang's remains, the state-run Xinhua news agency reported. Tributes for Jiang will be paid by the Central Committee of the ruling Communist Party (CPC), the Standing Committee of the National People's Congress (NPC), the Central Military Commission (CMC), and the overall high command of the Chinese ...

China's Covid curbs intensify as cases surge to highest since lockdown

China reported on Friday 10,535 new locally transmitted cases for Nov. 10, the highest since April 29, when the country's commercial hub, Shanghai, was battling its most serious outbreak

China's daily Covid cases jump to six-month high as outbreaks flare

The country reported 5,436 cases for Sunday, up 27% from the day before to the most since May 2, when Shanghai was in the midst of its months-long lockdown.

Shanghai Disneyland guests kept in closed park for Covid-19 testing

Shanghai Disneyland was closed and visitors temporarily kept in the park for virus testing, the city government announced, while social media posts said some amusements kept operating for guests who were blocked from leaving. The park closed on Monday for testing of staff and visitors, Walt Disney Co. and the city government announced. No details of a possible outbreak were released. All guests have exited the park following expedited COVID testing, Disney said Tuesday in a statement. It did not say when the park might reopen. While other countries are easing anti-virus measures, China has stuck to a severe Zero COVID strategy that aims to isolate every case. Outbreaks in Shanghai in March led to a shutdown that confined most of its 25 million people to their homes for two months. On Friday, 1.3 million residents of Shanghai's downtown Yangpu district were ordered to stay at home while they underwent virus tests. The city government appealed to anyone who had visited the Shanghai

Shanghai quietly shuts schools, gyms and bars as Covid-19 returns

The financial hub reported 47 new infections for Wednesday, the most since July 13 when a brief rise in cases revived fears of another general lockdown.

China's real estate crisis: CCB to set up $4.2 bn fund to buy properties

The fund will "invest in existing assets" of real estate companies and renovate the properties into rental housing, the lender said in a statement to the Shanghai stock exchange Friday.

Typhoon Muifa advances to China's eastern coast after storming Shanghai

A tropical storm was advancing up China's eastern coast on Thursday after bringing typhoon-strength winds and heavy rains to Shanghai overnight. Typhoon Muifa had maximum winds of 125 kilometers (77 miles) per hour upon landfall late Wednesday but had weakened to a tropical storm by morning, according to China's National Meteorological Center. It was forecast to weaken further as it moved through eastern parts of Jiangsu province through the day. No casualties or major damage has been reported in the Shanghai area, and the city was restarting public transit on Thursday after shutting down the metro as the storm passed. Photos posted on social media showed flooding in the city of Ningbo, south of Shanghai, with scooters and cars buried in water, after massive rains overnight. However, official city government accounts only noted certain street closures. One residential complex in Shanghai said it measured 15 centimeters (6 inches) of water overnight, according to local media. Jia

Flights halted as typhoon Muifa approaches Shanghai, northeast China coast

A typhoon was headed toward the Chinese coast on Wednesday and forecast to make landfall near the port city of Ningbo later in the day. Typhoon Muifa had maximum sustained winds of 145 kilometres an hour as it moved northeast, the Hong Kong Observatory said. The storm's track would take it just east of the city of Shanghai and then inland through Jiangsu and Shandong provinces on China's northeast coast. All flights were cancelled at the Ningbo airport and more than 11,000 fishing boats returned to port in Zhejiang province, according to Chinese media reports. A requirement for a negative coronavirus test within the last 72 hours, required in much of China to enter buildings and other public areas, was suspended in Ningbo except for at airports, train stations and highway entrances.