According to an internal memo, the US carmaker plans to churn out 2,600 electric cars from the Shanghai plant per day from May 16

The trend comes as the Politburo said China would "fight any comments and actions that distort, doubt or deny" the country's Covid-19 response policy

Covid-19 lockdowns had a severe impact on China's Golden Week, as travellers spent 43% less over the five-day break that ended on Wednesday, data showed

A member survey showed 92% of respondents saying they had been impacted by recent port closures, decreased road freight and rising sea freight costs

China markets seen as unlikely to attract new inflows till economy stabilises, as trade tensions, regulatory crackdowns and Covid lockdowns have hurt confidence and earnings

Some US companies see a massive decline in revenues this quarter while others see output slashed by half

The pessimistic findings from the survey, which focuses more on small firms in coastal regions, are in line with the government's official PMI

Hong Hao was among the most outspoken China market analysts, and worked in a high-profile post with the securities unit of state-owned Bank of Communications

About 8,000 Tesla employees returned to work at the US company's Shanghai giga-factory on April 19, the Miami-based EV news website said

Volvo said production was down at the end of the first quarter due to a shortage of a specific semiconductor and warned that the supply problem would persist

Additional shipping delays, port congestions and logistics under-capacity are expected while transport hub Shanghai remains in lockdown, the Danish company said.

The company's forecasts came as widespread supply chain disruptions and plunging consumer purchasing affected the world’s second-biggest economy