The developer had been planning to use presale funds due to pay $29.5 million in interest on the bond that was required to be repaid last month

Lucid Group CEO says the company is diversifying its chip suppliers to reduce the risk of supply disruptions as covid lockdowns continue to shutter China's factories.

The official jobless rate hit 5.8% in March, a near two-year high, as strict Covid lockdowns hammer the economy.

If Sunac goes into default, it could ramp up panic about China's property crisis, executives at other firms said, as Sunac is a big group known for its mid- to high-end properties

The US carmaker shipped over 4,700 electric vehicles to Europe on Wednesday, its first exports from the city in almost a month, state media said.

Economic damage from China's current coronavirus outbreak could be more than 10 times the impact from the initial outbreak in Wuhan in 2020, the SCMP said, citing a local economist

The pillars of the new law include protecting sensitive technology, strengthening supply chains for semiconductors and encouraging new tech such as artificial intelligence

Residents in the Chinese economic hub have over the past six weeks had to undergo multiple rounds of self-testing via antigen kits, as well as PCR Covid-19 tests

Disrupted transport links and restrictions on movement have cut battery manufacturing, research house Antaike said, while carmakers have cut or suspended production

China is upgrading its military logistics supply system on the lines of the US military's transport command (Transcom), the South China Morning Post reported, citing a state-owned CCTV report

CPI data showed that consumer price pressures rose, while the Producer Price Index was contained by measures to stabilise commodity prices and increase supply

Shares in KE Holdings, which operates the online property platform Beike, opened at HK$30 each