Economic recovery

Pedestrians cross a road in Pudong's Lujiazui Financial District in Shanghai, China, on 20 June 2022. (Qilai Shen/Bloomberg)

Shanghai hit by civil servant pay cuts

With the impact of the pandemic putting pressure on local government budgets across China, the latest wave of salary reductions for civil servants has taken hold in Shanghai, with no quarterly bonuses given out in some cases. China’s financial capital has not been doing well since the two-month pandemic lockdown took a heavy toll on businesses and general operations. Can the city recover?
A worker padlocks fencing securing a residential area under Covid-19 lockdown in the Xuhui district of Shanghai, China, on 8 June 2022. (Hector Retamal/AFP)

Post-lockdown Shanghai is as tense as ever

Zaobao correspondent Chen Jing observes that while the lockdown in Shanghai has been lifted, people are still nervous that the sporadic Covid-19 cases could trigger another lockdown. Regulations remain strict and prohibitive, so people are hesitant to say that things have returned back to normal. Furthermore, with the 20th Party Congress coming up, Shanghai’s situation will be a bellwether for the country’s economic recovery.
People head for an escalator at Hongqiao railway station as they make their way out of Shanghai, 31 May 2022. (Chen Jing/SPH Media)

Many want out as Shanghai recovers from lockdown

While some people are rejoicing as Shanghai gradually resumes daily life and business operations, the lockdown experience has traumatised others that are looking to leave the city and never return. Zaobao’s Shanghai correspondent Chen Jing finds out more.
A woman holds Chinese RMB banknotes in this illustration taken on 30 May 2022. (Dado Ruvic/Illustration/Reuters)

Easing pandemic controls could curb RMB’s tumble against the dollar

The RMB's recent dramatic weakening did not come as a surprise to many. As stringent Covid-19 measures gradually ease, along with possible relaxations of policies in the real estate sector, could the worst be over for China's economy?
A screengrab from a video showing the national teleconference on the economy chaired by Chinese Premier Li Keqiang, 25 May 2022. (Internet)

Chinese Premier Li Keqiang’s meeting of 100,000 attendees conveys sense of urgency on the economy

On 25 May, Chinese Premier Li Keqiang chaired a teleconference on China’s economy with 100,000 attendees. The sheer scale of the meeting and rhetoric used indicates a sense of urgency. The government is keen to convey that it is well aware that the Chinese economy is faring worse than in 2020 when the pandemic first hit and that it has all hands on deck.
A man drives his bike inside a fenced residential area under a Covid-19 lockdown in Beijing, China, on 11 May 2022. (Noel Celis/AFP)

Tough Covid measures in China may drag on for another year

The swift way that districts and communities were shut down in Shanghai and Beijing is a reminder that the authorities will not hesitate to take drastic steps to stamp out Covid-19, whatever the human cost. Not only that, the end may not be in sight even by the summer of next year.
This file photo taken on 4 August 2021 shows police officers wearing protective gear against the spread of Covid-19 spraying disinfectant at Nanjing port, Jiangsu province, China. (AFP)

China’s powerful export engine losing steam amid Covid-19?

Waves of Covid-19 outbreaks have dealt a big blow to China's economy, with strict anti-epidemic measures affecting businesses, exports and trade. Lockdown uncertainties have also sparked fears of increased competition with foreign manufacturers and a global supply chain restructuring away from China. Caixin surveys the challenges ahead.
A child receives a swab test for the Covid-19 coronavirus in a compound during a Covid-19 lockdown in Pudong district in Shanghai, China, on 17 April 2022. (Liu Jin/AFP)

Can Shanghai meet its zero-Covid deadline and resume production?

Even as Shanghai aims to reach “social zero Covid” in the coming days, it has moved to resume key manufacturing industries and businesses. Undoubtedly, notes Zaobao correspondent Yu Zeyuan, the authorities are well aware that Shanghai is China’s economic and political nerve centre and that any disruption could easily spell trouble.
A plane of China Eastern Airlines lands at the Beijing Capital International Airport in Beijing, China, 23 March 2022. (Tingshu Wang/Reuters)

China's aviation industry suffers double mishap of pandemic and plane crash

Zaobao’s China Desk analyses the impact of the recent China Eastern Airlines crash, touted as China’s worst aviation disaster since 2010. This comes at a time when China has been improving its flight safety record and its airlines are struggling to recover from the losses suffered from the Covid-19 slowdown. Will the aviation industry regroup and come back stronger from this?