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Chinese residents “panic buying” bulk drugs in pharmacies, what’s going on?

Jakarta

Chinese citizens can finally live side by side with COVID-19. This is because Chinese President Xi Jinping announced the “Zero-COVID” policy on Wednesday (7/12/2022).

Quoted from Reuters, the easing of COVID-19 rules has been welcomed by Chinese residents after being “shackled” by the rules. However, some community groups felt that this easing was rushed.

This is because there are still many Chinese residents who have not been vaccinated. Some of them are elderly people susceptible to the virus. Then, they are also seen buying a number of medicines to prevent exposure to the virus.

In recent days, authorities across China have warned of supply shortages and price hikes by retailers.

“Please buy rationally, buy on demand and don’t blindly hoard,” the Beijing Municipal Food and Drug Administration said, quoted by the state-run Beijing Evening News.

According to a resident, the drug was out of stock in a number of shops in Beijing’s Chaoyang district. The district hosts most of the foreign embassies as well as entertainment venues and corporate headquarters.

“Medicines were available last night and now many have run out,” said teacher Zhang, 33, who gave only his last name.

“Epidemic prevention has been lifted, COVID-19 testing sites have been largely dismantled. So, since the current cases in Chaoyang District are quite high, it is better to stock up on medicines,” he said.

Increased demand has boosted share prices of drugmakers, including cough syrup maker Guizhou Bailing (002424.SZ) and Xinhua Pharmaceutical (000756.SZ), which make up 40% of all ibuprofen sold in China.

NEXT: Chinese President Announces End of COVID-19

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