Markets

World’s Largest iPhone Factory Hit by Covid in China – SCMP

 

The largest iPhone factory in the world, owned by the Foxconn Technology Group in the central Chinese city Zhengzhou, has been hit by a Covid-19 outbreak, the South China Morning Post reported.

Foxconn told SCMP that the outbreak had affected a “small number of employees” and that operations at the campus are “relatively stable”. Foxconn’s statement came after reports of the Zhengzhou campus operating in a “production bubble” went viral on Chinese social media platforms.

Read the full report: SCMP.

 

 

 

Read more:

 

Xi Jinping Doubles Down on China’s Zero Covid Policy – NYT

 

 

Zero Covid Brings Guangdong Factory Hub to its Knees – RFA

 

China’s Yuan Drops Near 15-Year Low After Investors’ Sell-off

 

Mining Giant BHP ‘Cautiously Optimistic’ About China Economy

 

 

 

 

Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at vishakha.saxena@asiafinancial.com

Recent Posts

Nikkei Boosted by Big Tech, Policy Hopes Lift China Stocks

Global markets were subdued for the Easter break but Tokyo’s benchmark bourse still gained to…

1 hour ago

US ‘Drawing Up List of Sanctioned Advanced Chinese Chip Fabs’

The Joe Biden Administration is taking pains to strengthen its existing chips restrictions on China…

1 hour ago

FTX Crypto Fraudster Bankman-Fried Jailed For 25 Years

A US District Judge said the former billionaire wunderkid was responsible for one of the…

19 hours ago

China’s Big 5 Lenders Warn of Property Risks as Margins Shrink

Banks have been reluctant to deepen their exposure to the ailing real estate sector but…

20 hours ago

Chinese Biotech Giant WuXi ‘Sent US Client’s Data to Beijing’

US intelligence officials say Chinese pharma companies are risking national security at a time when…

24 hours ago

China’s BYD Delays EV Factory; Solid-State Batteries ‘Unsafe’

BYD has set back plans for an EV factory in Vietnam, while CATL has said…

1 day ago