As the number of local incidents increased, Covid-related restrictions became more stringent in parts of China, and in Shanghai, depicted here on July 3, 2022, lighter measures such as virus testing are protracted.
Qilai Shen | Bloomberg | Getty Images
Beijing — a few days later China has relaxed some Covid controls Cases of the virus in different parts of the country are alert to new areas.
According to Nomura’s chief China economist, Tin Lu, the number of cities restricting local migration more than doubled to 11 in a week as of Monday, up from the previous five weeks.
According to Nomura, the latest measures have affected areas that account for about 14.9% of China’s GDP, up from 10.1% a week ago.
The daily number of Covid cases in mainland China, including asymptomatic ones, has skyrocketed from a small number to about 200 or 300 new cases in the last few days. Most are asymptomatic.
Many of the new cases are in the area around Shanghai.Wuxi City near Jiangsu Province has bars and gyms late Saturday Must be closed temporarily, On the other hand, the restaurant could only offer takeaway.
Last week, a much smaller area called Si County in neighboring Anhui Province He ordered the residents to stay home and leave only at the designated times for virus testing.
In June, Beijing and Shanghai tried to keep children out of school and resume normal business activities after a few weeks of restrictions when many restaurants were essentially closed. The big cities in the southeastern part of Shanghai were hit hardest in April and May and closed.
Last week, mainland China shortened the quarantine period for international travelers and established a close relationship with Covid cases. The country has also changed the national travel system, which theoretically facilitates domestic travel.
Daily Covid cases in Beijing and Shanghai have dropped to single digits or zero over the past few days.
“Markets can be a little complacent if they ignore the backlash from the Covid case and underestimate the cost of sustained Covid containment measures,” Nomura said in a report on Monday.
In addition to new cases in the mainland of economic powers like Jiangsu, Lu noted the spread of Covid in nearby economies. This is evident from the number of mountaineering cases in Hong Kong and an average of more than 100 new deaths per day in Taiwan over the past week.
Mainland China has not reported new deaths from Covid for weeks.
“Thanks to the reduction in the number of cases of Covid-19, the lifting of the blockade, and the relaxation of other Zero Corona Strategy (ZCS), China’s” Covid Business Cycle (CBC) “has been on the rise since late May. Limitations and stimuli. ” “But another wave of Omicron can encourage a return to the downswing phase, even if the timing of such occurrences is uncertain.”