The effective prices refiners pay could exceed the $60 per-barrel cap that came into effect on Monday

China's uncompromising Covid policies, poor domestic demand and a real estate sector crash all combined to deal a heavy blow to the country's industrial sector

With private businesses reluctant to spend, local government and state-owned banks stepped into the gap in a bid to kick-start the economy

The move followed pushback from trade groups like the US Chamber of Commerce which argued the measures would not further US national security

Beijing's loosening of rules that have hobbled the world's second largest economy is being seen as the strongest sign yet that China is preparing its 1.4 billion people to live with the disease

The bleak data also underlined the impact of fresh Covid restrictions across many Chinese cities including manufacturing hubs Zhengzhou and Guangzhou

The Apple supplier sees its China factory returning to full output by late December after unrest broke out among workers over Covid curbs

VW’s Cupra brand will start producing its striking new Tavascan model at its joint venture factory in China operated alongside JAC

Analysts predict China may now re-open the economy and drop border controls sooner than expected next year, with some seeing it fully open in spring

The company delivered 100,291 of its popular electric vehicles last month, which Xinhua said was its best month since opening for production in Shanghai in late 2020

China's currency rose to its strongest level in two months – to below 7 per dollar – on Monday, on expectations the US Fed will cut its interest rate hikes, while Beijing eases its zero-Covid policy

New measures on the handling of Covid-19 could be announced on Wednesday, including the possibility of people being allowed to quarantine at home, sources have said