Cities in central China have hastily drawn up plans to isolate migrant workers fleeing to their home towns from the country’s largest iPhone factory, amid fears they will spread coronavirus after leaving the plant in Covid-hit Zhengzhou. Videos shared on Chinese social media showed people who are allegedly workers at the Foxconn plant climbing over fences and carrying their belongings along a road. It was previously reported that a number of workers had been placed under quarantine because of an outbreak of the disease. Foxconn, a supplier to Apple that…
Tag: Technology sector
Will China’s zero-Covid policy bring the world’s factory grinding to a halt?
A top Huawei executive has broken ranks to warn that China’s stringent zero-Covid policy may trigger “massive losses” for the tech industry, putting the country’s economy as well as the global supply chain at greater risk. “If Shanghai cannot resume production by May, all of the tech and industrial players who have supply chains in the area will come to a complete halt, especially the automotive industry,” Richard Yu Chengdong, head of Huawei’s consumer and auto division said in a WeChat post. “That will pose severe consequences and massive losses…
China’s ride-hailing firm Didi to switch listing from New York to Hong Kong
The Chinese ride-hailing firm Didi is to move its listing from the New York stock exchange to Hong Kong, as Beijing cracks down on the country’s biggest technology companies. The company said it would start “immediate” preparations to delist in New York and prepare to go public in Hong Kong. “After a careful study, the company will start delisting on the New York stock exchange immediately, and start preparations for listing in Hong Kong,” the company posted on its Weibo account on Friday, a Twitter-like service in China. It comes…