• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

An hour in the Oval Office with President Trump Fortune Editor-in-Chief: Alyson Shontell sat down with President Trump in the Oval Office for an hour. Tariffs, Intel, AI, Boeing, Iran—and the question every CEO eventually has to answer: who's next?

FinanceChina

China continues its zero-COVID policies, locking down 21 million Chengdu residents

Will Daniel
By
Will Daniel
Will Daniel
Down Arrow Button Icon
Will Daniel
By
Will Daniel
Will Daniel
Down Arrow Button Icon
September 1, 2022, 12:51 PM ET
CHENGDU, CHINA - SEPTEMBER 01: People line up to buy vegetables in preparation for a COVID-19 lockdown on September 1, 2022 in Chengdu, Sichuan Province of China.
People line up to buy vegetables in preparation for a COVID-19 lockdown on Sept. 1, 2022, in Chengdu, China.VCG/Getty Images

Even as the rest of the world moves beyond pandemic-era lockdowns, China is continuing with its strict zero-COVID policy.

On Thursday, officials in Chengdu, a city of over 21 million people in Sichuan province, began a lockdown and a four-day citywide testing campaign. The announcement left residents scrambling to buy groceries as officials have yet to reveal how long they expect the lockdown to last.

Families in the city can send only one person out per day for necessities, but residents can leave Chengdu if they’ve had a negative test result within the past 24 hours, officials said.

Chengdu reported 156 new COVID-19 cases on Wednesday, bringing its total caseload since Aug. 25 to over 700. But despite the rising number of infections, China has reported zero COVID deaths over the past three months, with the death toll throughout the entire pandemic remaining at 5,226.

“The decision will impact daily life for millions as well as the global economy and shows China’s commitment to Xi Jinping’s #CovidZero approach despite massive disruptions,” Curtis S. Chin, a Milken Institute fellow and former U.S. ambassador to the Asian Development Bank, said of the lockdowns in a tweet on Thursday.

Chengdu is a critical hub for electronics and auto manufacturers in China. Foxconn, Apple’s largest iPhone manufacturer, is moving to a closed-loop system at its factories in the region that requires its workers to live on-site, hoping to maintain production during the lockdown as it did earlier in the year in Shenzhen, Bloomberg reported.

Volvo has temporarily closed its factory in Chengdu, according to a company spokesman.

Other major cities including electronics hub Shenzhen and the port of Dalian have also added new COVID-19 restrictions recently.

“At least 28 cities tightened COVID restrictions this week in China, including lockdowns, affecting 40 million people. China’s economy is slipping toward contraction,” Arlan Suderman, chief commodities economist at financial services firm StoneX Group, said in a tweet on Thursday.

The latest COVID-19 restrictions follow a string of lockdowns seen in major cities this spring, including Shanghai and Shenzhen, which had devastating impacts on Chinese supply chains and industry.

For Sichuan province, the lockdowns are only adding to the pain from a record heat wave that exacerbated an ongoing drought in August, leading to citywide power cuts. Businesses in Sichuan, from lithium producers to electrical component manufacturers, have struggled as a result of the power cuts that even forced officials in Shanghai to cut the lights to the city’s skyline.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
Will Daniel
By Will Daniel
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Attendees sit to watch a speech during the 2023 Consensus conference in Austin, Texas
CryptoCryptocurrency
A strip club scandal at a major crypto industry event triggers sponsor backlash
By Jack KubinecMay 18, 2026
18 minutes ago
data center
AIData centers
Communities are blocking billions in data centers. Big Tech has wagered $1 trillion otherwise
By Nick LichtenbergMay 18, 2026
43 minutes ago
trump
EconomyCurrency
China will remain an ‘incomplete superpower’ until it can catch up with U.S. financial might, market veteran says
By Jason MaMay 18, 2026
2 hours ago
David Solomon
SuccessCareers
Goldman Sachs’ CEO once scooped ice cream at Baskin-Robbins—he picked up a second job at McDonald’s after his dad gave him a time management lesson
By Preston ForeMay 18, 2026
2 hours ago
Top CD rates from major banks May 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
BankingCertificates of Deposit (CDs)
Top CD rates from major banks on May 18, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Danny BakstMay 18, 2026
4 hours ago
Current price of Ethereum for May 18, 2026
Personal FinanceEthereum
Current price of Ethereum for May 18, 2026
By Joseph HostetlerMay 18, 2026
4 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
2 days ago
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
Economy
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
By Jason MaMay 17, 2026
1 day ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
6 days ago
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
Success
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
By Sydney LakeMay 17, 2026
1 day ago
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
Innovation
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
By Jason MaMay 16, 2026
2 days ago
Gen X is the most indebted generation in America. Their employers can fix that
Commentary
Gen X is the most indebted generation in America. Their employers can fix that
By Mary MorelandMay 17, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.