Many other regions of China battle Covid and threaten to close as cases spike

Covid-related restrictions tightened in parts of China as local cases increased, while milder measures such as virus testing continued in Shanghai, picture in here on July 3, 2022.

Qilai Shen | Bloomberg | beautiful pictures

BEIJING – Just a few days later China loosens some Covid controls, Virus cases in different parts of the country have put new areas on alert.

According to Ting Lu, chief China economist at Nomura, the number of cities with local movement restrictions more than doubled in a week to 11 cities on Monday, up from five weeks earlier.

The latest measures affect regions that account for about 14.9% of China’s GDP, up from 10.1 percent a week earlier, Nomura said.

Mainland China’s daily number of Covid cases, including those without symptoms, has increased from a handful of cases to around 200 or 300 new cases in the past few days. Most are asymptomatic.

Many new cases occurred in the area around Shanghai. The city of Wuxi in nearby Jiangsu province said late Saturday that bars and gyms will need to close temporarily, while restaurants can only offer takeout.

Last week, a far smaller area called Si county in neighboring Anhui province ordered people to stay in their homes and only leave at designated times to test for the virus.

In June, Beijing and Shanghai attempted to resume normal business after weeks of restrictions that kept children out of school and many restaurants essentially closed. The southeastern capital of Shanghai has been hardest hit and was closed during April and May.

Last week, mainland China cut the quarantine period for international travelers and those in close contact with Covid cases. The country has also changed its tourism system across the country, which should theoretically make traveling within the country easier.

The daily number of Covid cases in Beijing and Shanghai has dropped to single digits or zero in the past few days.

“The market could become too complacent if they ignore the recovery of covid cases and underestimate the cost of persistent covid containment measures,” Nomura’s Lu said in a note on Thursday. Two.

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In addition to new mainland cases in economic powerhouses such as Jiangsu province, Lu noted the spread of Covid in neighboring economies – evident in the high number of cases in Hong Kong and the daily average. Taiwan’s day has more than 100 new deaths in the past week.

Mainland China has not reported a new Covid death for weeks.

“We have been in the upward phase of China’s ‘Covid Business Cycle (CBC)’ since the end of May, driven by the decline in the number of Covid-19 cases, the lifting of the lockdown, and the Another measure of zero-Covid (ZCS) easing, he said. “However, another wave of Omicrons could spur a return to the recession, although the timing of such occurrence is uncertain. sure.”

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