SHENZHEN, China – China’s strict COVID-19 controls will hamper foreign investment into the country for years to come as limits on travel block the pipeline for projects, the President of the American Chamber of Commerce warned on Tuesday. There are few signs that American companies are leaving the China market, but the years-long process of research and due diligence for projects has been delayed, Michael Hart said at an event launching the chamber’s annual report.…"China’s COVID controls will impact foreign investment for years – U.S. lobby"
BEIJING – Carbon dioxide emissions from the world’s steel sector will fall 30% by 2050 compared with last year as more mills turns to less-polluting electric arc furnaces (EAF), consultancy Wood Mackenzie said in a study on Tuesday. Around 48% of global crude steel will be made via EAF by 2050, according to Woodmac, increasing from 30% in 2021 and almost on a par with traditional blast furnace steelmaking. “Together with green hydrogen-based direct reduced…"Steel industry carbon emissions to drop nearly 1/3 by 2050 – Woodmac"
BEIJING – Trade in China’s thermal coal futures has almost come to a halt, after Beijing stepped up its control of coal prices to rein in the soaring costs of energy and raw materials. The flagship product for Zhengzhou Commodity Exchange (ZCE) has at times seen as many as 1 million lots exchange hands in a day but recorded a turnover of just 27 lots on Monday. That was down 99.9% from a year ago…"China’s thermal coal futures mute as Beijing reins in commodity inflation"
– Shanghai set out plans on Monday for the return of more normal life from June 1 and the end of a painful COVID-19 lockdown that has lasted more than six weeks and contributed to a sharp slowdown in China’s economic activity. DEATHS AND INFECTIONS * Eikon users, see COVID-19: MacroVitals for a case tracker and summary of news. EUROPE * Russia will promptly consider any request from North Korea for COVID-19 vaccine supplies, Kremlin…"Factbox-Latest on the worldwide spread of the coronavirus"
SHANGHAI/BEIJING – Shanghai set out plans on Monday for the return of more normal life from June 1 and the end of a painful COVID-19 lockdown that has lasted more than six weeks and contributed to a sharp slowdown in China’s economic activity. In the clearest timetable yet, Deputy Mayor Zong Ming said Shanghai’s reopening would be carried out in stages, with movement curbs largely to remain in place until May 21 to prevent a…"Shanghai targets June 1 return to normal as COVID lockdowns cool economy"
BEIJING – China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due to widespread COVID-19 lockdowns. Crude throughput last month was 51.81 million tonnes, equivalent to 12.61 million barrels per day (bpd), data from the National Bureau of Statistics (NBS) showed on Monday. This compared with 13.8 million bpd in March and 14.09 million bpd…"China’s April oil refinery output plunges to two-year low as COVID curbs bite"
BEIJING – Mainland China reported 1,227 new coronavirus cases for May 15, of which 151 were symptomatic and 1,076 were asymptomatic, the National Health Commission said on Monday. That compares with 1,789 new cases a day earlier, consisting of 239 symptomatic and 1,550 asymptomatic infections, which China counts separately. There were four new deaths, bringing the death toll to 5,213. As of May 15, mainland China had confirmed 221,955 coronavirus cases."China reports 1,227 new COVID cases for May 15 vs 1,789 a day earlier"
SEOUL – North Korean leader Kim Jong Un guided an emergency politburo meeting and ordered the military be used to stabilize the supply of medicines in Pyongyang as the country battles its first confirmed COVID-19 outbreak, state media reported on Monday. The country reported 392,920 more people with fever symptoms, with eight new deaths, state news agency KCNA said."Kim Jong Un orders North Korea military to ‘stabilize’ drug supply amid COVID outbreak"
SHANGHAI/BEIJING -Shanghai will gradually begin reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub from Monday after weeks in strict COVID-19 lockdown, while Beijing battles a small but stubborn outbreak. All but shut down for more than six weeks, Shanghai is tightening curbs in some areas that it hopes marks a final push in its campaign against the virus, which has infuriated and exhausted residents of China’s largest and…"Shanghai aims to reopen more COVID-shut businesses, Beijing battles on"
SEOUL -North Korea said on Sunday a total of 42 people had died as the country began its fourth day under a nationwide lockdown aimed at stopping the impoverished country’s first confirmed COVID-19 outbreak. On Thursday North Korea acknowledged for the first time a COVID outbreak and ordered the lockdowns. State news agency KCNA said the country was taking “swift state emergency measures” to control the epidemic. “All provinces, cities and counties of the country…"N.Korea reports more deaths, says taking ‘swift measures’ against COVID outbreak"