Global traders are increasingly feeling more bullish on China, as they bet the country will gradually unwind COVID restrictions following widespread protests.
Global traders are increasingly feeling more bullish on China, as they bet the country will gradually Multiple cities across China loosened COVID-19 restrictions over the weekend. Starting Monday, Shanghai residents will no longer require a negative COVID test result to enter outdoor venues including parks and scenic attractions.
It also raised its target for Hong Kong's benchmark Hang Seng Index to 21,200 by the end of next year. That's up 10% from its current level. The Hang Seng climbed more than 4% on Monday, after logging a 27% gain in November, its best monthly performance since 1998. Mainland China's benchmark Shanghai Composite was up 1.7%, following a 9% gain last month.In addition to Shanghai, the nearby city of Hangzhou no longer requires people to scan QR codes or provide COVID test results when taking public transportation and entering public venues, except in some venues designated as high-risk, such as seniors homes and kindergartens.
Goldman Sachs, which had a baseline scenario for China to start to reopen in April, said on Monday that the probability of an earlier exit had increased. Copper and iron ore prices had settled higher last week. The gains were buoyed by hopes that the easing of restrictions and recently announced However, analysts also warned that China may still be a long way from ending its zero-COVID policy completely.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19 confusion in China as authorities row back curbsRegional authorities in China have cut back on lockdowns and quarantine rules
Read more »
China reports 2 new COVID deaths as some restrictions easedChina on Sunday reported two additional deaths from COVID-19 as some cities move cautiously to ease anti-pandemic restrictions following increasingly vocal public frustrations.
Read more »
China reports two new COVID-19 deaths as some restrictions easedChina on Sunday reported two additional deaths from COVID-19 as some cities move cautiously to ease anti-pandemic restrictions
Read more »
China reports 2 new COVID deaths as some restrictions easedChina on Sunday reported two additional deaths from COVID-19 as some cities move cautiously to ease anti-pandemic restrictions following increasingly vocal public frustrations.
Read more »
China’s COVID trapLONDON, U.K.—“Our COVID-19 policy is the most scientifically effective, the most economical, and yields the best result,” insisted the People’s Daily newspaper in China after mass public protests against the government’s zero-COVID policy last weekend. If President Xi Jinping believes that, he is in for a lot more trouble. The protests were unprecedented in their scale and daring. They broke out spontaneously in 12 cities across China after 10 lockdown-related deaths in the remote province of Xinjiang. All sorts of people took part, from students to workers to pensioners. A few even called for the dethroning of Xi and the Communist Party. That doesn’t mean the regime is on the brink of collapse. Public anger at the endless lockdowns and the resulting loss of income is strong, but the regime’s surveillance technology is excellent. There was relatively little official violence last weekend, but many of the protesters will have an unpleasant visit by the police in the coming days. Xi’s problem is that the protests will probably recur and may well escalate because over-long mass quarantines and lockdowns are a non-political issue that can unite almost everybody against the government’s policy. Or rather, against Xi’s personal policy, for he has deliberately chosen to portray zero-COVID as the greatest achievement of his time in office. That made sense in the first year of the pandemic, for China’s relentless lockdowns and mass testing campaigns saved a great many lives. Total COVID-related deaths in China have been around 5,000 out of a population of 1.4 billion. The United States, with less than a quarter of China’s population, had more than one million COVID deaths. Xi and his propagandists naturally used this contrast as evidence that both Chinese medicine and the Chinese political system were superior to their Western equivalents. Was he even aware that the zero-COVID policy could only be a stopgap until effective vaccines were developed, never a lasting solution? H
Read more »