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China tech

China lockdowns a 'double killer' of online, offline businesses: CEO

Latest outbreak hurts consumers and supply chains more severely, Xu Lei says

A logistics center in Beijing. After taking a toll from the pandemic, the company has been culling staff members to reduce costs.   © Reuters

HONG KONG -- The coronavirus outbreak in several large Chinese cities, bringing lockdowns in Shanghai and Beijing, has been a "double killer" affecting online and offline businesses alike, CEO Xu Lei said Tuesday.

As China adheres to its strict COVID prevention and control measures, Xu told analysts in a conference call that this year's outbreak has caused greater damage to consumers and supply chains than any in the previous two years.

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