News Snapshot:
Shanghai’s economy has been hit hard as a result of the zero-Covid policy. The financial hub officially ended its strict lockdown and opened the city on June 1. In addition, it also implemented 50 measures in an effort to recover the economy. Measures include various incentives for companies such as tax rebates, tax cuts, helping foreign-invested companies to resume their business operations, and others. Along with those measures, a Shanghai governing body offers a unique approach to raising funds to fight the virus. A notice on June 7 from the Shanghai State-owned Assets Supervision and Administration Commission urged Chinese Communist...
