It has been more than 3 years since the outbreak of COVID-19. in the city of Wuhan, China and found a global epidemic China remains steadfast in its Zero COVID policy. The key to a full economic recovery As economists see it as China moves towards reopening The economic recovery may be slow. and not so smooth After the number of daily infections has risen sharply in recent months. And although China currently uses measures called “Dynamic Zero-COVID” (Dynamic Zero-COVID), adding the word dynamic. But the intensity of the execution has not diminished.
Earlier, Xinhua News Agency reported that Vice Premier Sun Chunlan, who is in charge of epidemic control, said that China’s coronavirus containment measures will enter a new phase after the virus becomes less virulent and the vaccination rate has increased significantly. while the stock market responded favorably to this news Chinese stocks rise led by consumer staples stocks In both Hong Kong and Mainland China markets. Yuan appreciates against the US dollar
However, some analysts have warned that the path to living with COVID may be a slow one. And not without a hitch, with Mr. Lu Ting, chief economist of the Nomura Institute, thinking that the COVID-19 epidemic may return in winter. This makes it more difficult to control the epidemic. While the real economic recovery that comes from higher domestic spending May happen during the decline in epidemic numbers.
began to gradually relax the strict control measures
in the last week China has begun to relax its strict control policy to prevent the spread of the virus.COVID-19 More now, though no official announcement has been made. In Beijing, COVID-19 testing booths have been demolished after the requirement to show negative results before entering places such as supermarkets was lifted. And get ready to cancel your test results for using the subway service on Monday. parties in different places including the office are yet to show results The city of Shenzhen has announced that citizens do not need to show negative COVID-19 results to take public transportation. or to use the park Following similar announcements in Chengdu and Tianjin,
The easing of restrictions comes as the number of new infections in China remains high, with 32,827 new infections reported on Dec. 2, down from 34,772 the day before. As of December 2, China has recorded a total of 5,233 COVID-19 deaths and 331,952 symptomatic cases.
EU officials said during a meeting with EU officials on Thursday, President Xi Jinping condemned large-scale protests against the Chinese government’s coronavirus policies but said Omicron’s coronavirus helped pave the way to less stringent requirements.
The risk of a new wave of epidemics continues for many more months
The European Chamber of Commerce in China said the Chinese government had spent at least a year preparing for herd immunity. and if various strict control measures are lifted before herd immunity China is even more vulnerable to the resurgence of another pandemic. affecting the country’s public health system And could again lead to the announcement of stringent control measures. As we saw earlier this year. What happens will affect business operations. harm the economy
Although the Chinese government has repeatedly stressed efforts to balance economic growth and contain the epidemic, But the endless lockdown measures Quarantine and extensive testing has made people tired and impatient has led to massive protests in schools and many cities
Over the past couple of years, Chinese utility companies have become victims of zero-COVID policies as authorities restrict travel when new cases are detected. While the industrial sector benefited from the increased demand for medical products during the early stages of the epidemic. Come this year, it suffered a break. Exports decline as the epidemic intensifies again.
However, a Chinese government adviser said China’s economy would recover as soon as possible to avoid further slowdown. Economists from Goldman Sachs and UBS estimate that China’s GDP will grow 4.5% next year, Morgan Stanley expects 5%, and Nomura expects 4%.
Author: Pensopha Sukontharak
