Covid surges in China, lockdowns hit economy and AUD

A sharp contraction in activity in China’s services sector in March has offered a vision of how the latest lockdowns fueled by coronavirus outbreaks across the country are weighing on economic performance.

It seems that there is no relief, since daily count of new covid infections continues to break records. China recorded the biggest increase seen in one day, with 20,472 new infectionswhile the city of Shanghai recorded more than 17,000 new cases of covid.

In this context, the Shanghai city authorities issued new guidelines, citing that they will start another round of massive tests of covid throughout the city starting April 6.

Lockdowns in the city will remain until testing is completethey added.

Additional comments

The tests will be a mixture of antigen and PCR tests for covid.

It will be evaluated if the blocking should continue after the results of the last test.

The treatment of minors during covid will still have to comply with rules and regulations, but the authorities are also considering their needs.

The quality of care has been reinforced and specialized quarantine areas for minors have been established.

Some parents, if they meet certain conditions, may accompany their children.

Parents accompanying their children will be asked to comply with protective measures.

Chinese authorities on Tuesday extended the COVID-19 lockdown in Shanghai to cover all of the financial hub’s 26 million people, despite growing anger over quarantine rules in the city, Reuters reports.

Source: Fx Street

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