China's "closed loop" system, which had been relied on by many factories throughout the zero-Covid era, is also beginning to fall apart

A leading indicator of the demand for technology globally, the island's export orders are also likely to see a significant decline in December

The services unit’s pledged shares were last enforced a year ago, when the group's ownership was reduced from 60.96%

"China's growth outlook is subject to significant risks, stemming from the uncertain trajectory of the pandemic," the World Bank said

The survey suggests that the Chinese economy "may be heading for recession in 2023," World Economics said

Taiwan's export orders often arrive two to three months ahead of actual exports as a leading sign of demand for high-tech goods and Asian exports

Immigration queries from China have been on the rise this year as stringent zero-Covid curbs and a steep fall in property prices have chipped away riches from the wealthy

The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023 that it announced last month

The system has already been used by Russia following the imposition of sanctions on Moscow over the Ukraine war

Xi wants China and Russia to transact more deals in rubles and yuan to insulate the two against future Western sanctions

The decision signals a degree of renewed cooperation between the world's two largest economies which are locked in a heated trade and technology war

The mandate, the first of its kind for a Japanese municipality, is aimed at cutting household carbon emissions in the world's fifth-largest carbon emitting country