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

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 IMF identified China's Covid restrictions as a major deterrent for investors, the SCMP said

Foxconn has already taken a hit from Covid disruption at its key Zhengzhou factory, Nikkei Asia said

Rumours and news reports have raised hopes for the easing of China's tough Covid curbs and improved relations with the United States

Foxconn is Apple's biggest iPhone maker, producing 70% of iPhone shipments globally, which in turn makes up 45% of the Taiwanese firm's revenue

Shares in Japan closed at their highest level in nearly seven weeks, while world stocks also hit a five-week high and most Asian currencies also eked out gains after a decline in the dollar index

Reports of Foxconn's Zhengzhou campus operating in a “production bubble” went viral on Chinese social media platforms

Millions of people in China are under Covid controls again as Beijing continues to enforce its controversial zero-Covid policy and...

Huaqiangbei market in Shenzhen, which houses thousands of shops selling key components like microchips and telephone parts to manufacturers, will be shuttered until Sept 2

Fund says Beijing could avoid further lockdowns if it uses "effective vaccines" as it warns that $300bn yuan real estate measure was a "fix" that might not be enough

Wuhan's district of Jiangxia, with over 900,000 residents, said its main urban areas must enter a three-day restriction from Wednesday