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

Shanghai residents are turning to NFT marketplaces like the world's largest, OpenSea, where users can mint content and buy or sell it using cryptocurrencies

Major Taiwanese Apple supplier Foxconn said on Wednesday that it is continuing production in China's Zhengzhou, 800km northwest of Shanghai

The worst is over for shop rents, which are likely to increase by at least 10% in some residential areas

China's zero-Covid policy has stirred anger in Shanghai, where millions have been confined indoors for over a month, but the death toll fell to 32 on Sunday

The once-booming electric vehicle market has been hit hard and Nomura Holdings says the country's hardline Covid policy has put the economy on the brink of recession.

Purchasing managers' indices data released on Saturday showed factory and service-sector activity declined for a second straight month in April, it said