Bloomberg quoted people familiar with the matter as saying China announced on Wednesday (7) further easing of epidemic prevention and control measures, including isolating some infected people at home across China, l ‘cancellation of non-essential nucleic acid tests and even considering canceling code scanning. Unsatisfied with the strict lockdown, authorities are rapidly easing the dynamic reset policy.
According to unnamed sources, one major change that could be announced this week is to allow low-risk positive infections to be isolated at home without having to be sent to isolation centers and to cancel nucleic acid testing for other people except of those in high-risk groups.
In addition, China is also considering reducing or even eliminating the requirement to scan codes to enter public places.
Reuters also reported on Tuesday that China will announce the easing of 10 anti-epidemic measures as soon as Wednesday to complement the 20 anti-epidemic streamlining measures it announced in November.
There are finally signs that China is moving towards a breakout, pushing Chinese assets higher. China’s Hong Kong-listed stock market delivered its biggest monthly gain since 2003 in November. After the Bloomberg report was released Wednesday, onshoreRMBIt rose 0.3% against the dollar to 6.98 yuan intraday,10-year Treasury bill yielddown 1 basis point.
Major Chinese cities, from Beijing to Shanghai to Shenzhen, have rapidly relaxed anti-epidemic policies in the past two weeks, including the cancellation of large-scale nucleic acid testing. Sticking to a zero-zero policy has cost the Chinese economy and sparked unprecedented civil protests.
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