Jumat, 29 April 2022

Tencent, Alibaba, Meituan Shares Soar on Easing China Crackdowns Speculation - Bloomberg

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  1. Tencent, Alibaba, Meituan Shares Soar on Easing China Crackdowns Speculation  Bloomberg
  2. Dollar Lower on Profit-Taking After Chinese Reassurance; Eurozone GDP Eyed By Investing.com  Investing.com
  3. Alibaba, JD.com Jump as China Pledges Stimulus to Rescue Economy  Bloomberg
  4. Alibaba, Meituan fuel stock rally as China’s Politburo vows to fix crisis  South China Morning Post
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2022-04-29 08:21:59Z
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China's Politburo Pledges Efforts to Meet Economic Targets - Bloomberg

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  1. China's Politburo Pledges Efforts to Meet Economic Targets  Bloomberg
  2. China to step up policy support to steady economy  CNA
  3. China pledges more economic support as lockdowns stymie growth  Al Jazeera English
  4. China pledges aid for unemployed, growth of Internet firms  The Straits Times
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2022-04-29 07:12:32Z
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Kamis, 28 April 2022

COVID-19 lockdowns upset the rice bowls of China's commuter workers - CNA

BEIJING: When the town of Yanjiao near Beijing was suddenly plunged into a COVID-19 lockdown last month, taxi driver Dong Tiejun was forced to drive hundreds of kilometres to avoid roadblocks and get a passenger to Tianjin, a metropolis on the northeast coast.

As an unlicensed, long distance driver, Dong relied on a network of regulars travelling in and out of Beijing via Yanjiao, in Hebei province just east of the Chinese capital. Yanjiao's lockdown from Mar 13 to early April took away much of his income.

"No one can get out of there, so who will take your taxi?" he said.

Millions of other white- and blue-collar workers whose livelihoods depend on unimpeded mobility between cities have faced similar hurdles since COVID-19 cases began surging in March and the flow of people and goods between provinces was upended by travel curbs.

Analysts at Nomura estimate 46 cities are currently in full or partial lockdowns involving strict mobility restrictions on local residents, affecting the lives of 343 million people.

Border towns such as Yanjiao have grown at a dizzying rate over the past decade as office workers in Beijing looked for affordable housing nearby, with hundreds of thousands crossing the Hebei-Beijing border on a daily basis before COVID-19.

Even after the lockdown for Yanjiao residents was lifted on Apr 4, border checkpoints were clogged in the early hours of the morning and resentment at COVID-19 curbs was palpable.

"I come here six days a week, every time at 5.30am, the bus stop is far and the checkpoint is strict, the cost of riding a scooter here is also high, I think all these measures are very inconvenient," said a Yanjiao resident surnamed Gao.

Several Yanjiao commuters told Reuters that another burdensome measure was the "commuter pass" that anyone entering Beijing must now obtain and continuously update.

The long list of documents needed to obtain the pass includes a homeowner's ID card, a negative COVID-19 test report with a 48-hour validity, proof of vaccination, and proof of employment in Beijing, among others.

"I'm afraid I can't get all of these documents," said Yan Chun, 21, who came to Beijing looking for work after the beauty salon she worked for in Shenzhen closed due to COVID-19.

"I'm looking for a job, so where do I get proof of employment in Beijing?"

While major centres like Beijing and Shanghai have maintained high bars for imposing stringent COVID-19 restrictions on residents, dormitory towns in Hebei face a much stricter and mercurial situation.

Authorities in Sanhe city, which is comprised of Yanjiao and nine other towns, said on Wednesday residents "would be restricted from entering and exiting Beijing" after "an abnormal nucleic acid test" was reported.

THOSE WHO LABOUR

Lao Yuan, 62, and his wife left their village in Hebei 10 years ago to work in a car factory in Beijing. In recent times, they have depended on daily labour markets in Songzhuang, on the outskirts of Beijing near the Hebei border, usually earning around 300 yuan (US$46) a day.

After the Lunar New Year holiday, Lao Yuan's hometown in Hebei was locked down and his wife who travelled there has been unable to return to greater Beijing since. He now lives alone in a rented room in Songzhuang.

At the labour markets, workers among the hundreds who would gather around 4am every day waiting for vans to take them to construction sites and factories say things have changed since the latest COVID-19 surge.

It's now common to not find work at Songzhuang even after a whole morning of waiting, said a migrant worker from Shandong province, only giving his surname as Wang.

"I've some direct connections with factory bosses, that works better now," Wang said.

"Most people just leave by 8am, if we do not get a job we just stay in our rooms resting, looking at our phones.

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2022-04-28 02:17:00Z
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Rabu, 27 April 2022

Malaysia's Ringgit Heads for Steepest Monthly Decline Since 2016 - Bloomberg

Malaysia’s ringgit is heading for its biggest monthly loss in more than five years, as falling oil prices and a dovish central bank weigh on the oil exporter’s currency.

With oil prices erasing most of the gains made in the wake of Russia’s invasion of Ukraine in February, the ringgit, down 3.6% against the U.S. dollar so far this month, is poised for more declines on the back of China’s economic slowdown. 

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2022-04-27 04:03:00Z
CAIiEI2xXx88dcC02vjlR1PA9jsqGQgEKhAIACoHCAow4uzwCjCF3bsCMIrOrwM

China Covid Situation Worsened by Lack of Local mRNA Vaccine - Bloomberg

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  1. China Covid Situation Worsened by Lack of Local mRNA Vaccine  Bloomberg
  2. China's Covid booster campaign slows as staff redirected to mass testing  Financial Times
  3. China's Covid booster campaign falters as staff redirected to mass testing  The Irish Times
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2022-04-26 20:00:25Z
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Selasa, 26 April 2022

Covid Lockdowns Show Xi Jinping Puts Ideology Before China's Economy - Bloomberg

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  1. Covid Lockdowns Show Xi Jinping Puts Ideology Before China's Economy  Bloomberg
  2. Beijing lockdown fueling fears  台北時報
  3. Shanghai residents voice frustration as strict COVID-19 lockdown continues  Arirang News
  4. Opinion: What the Shanghai lockdown tells us about China's future  The Globe and Mail
  5. A Misguided Policy That Is Starting To Come Apart | Mint  Mint
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2022-04-25 23:12:58Z
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Senin, 25 April 2022

China Lockdown Angst Rips Through Markets as Stocks, Yuan Plunge - Bloomberg

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  1. China Lockdown Angst Rips Through Markets as Stocks, Yuan Plunge  Bloomberg
  2. China lockdown fears rip through Asia markets as stocks, renminbi tumble  The Straits Times
  3. Stocks tumble as China lockdowns rattle investors  ฺBangkok Post
  4. Pinduoduo, Alibaba Lead Chinese ADR Decline Amid Lockdown Woes  Bloomberg
  5. Asian markets track Wall Street rout, oil sinks  INQUIRER.net
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2022-04-25 08:27:12Z
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