untitled design

Guangzhou reports twice as many covid cases

Guangzhou reports 5,124 new local Covid-19 cases until 0:00 on November 15. The new cases of coronavirus have been shot in Guangzhou and other Chinese cities, official data showed last week. Guangzhou is the world’s manufacturing hub and is becoming the latest epicenter of COVID-19 in China and is testing the city’s ability to avoid a Shanghai-style lockdown.

China has remained an international exception when it comes to pandemic restrictions, persevering with Xi’s policy on zero-covid, which consists of the closure of buildings, suburbs or entire citiesas well as in mass testing, quarantine and electronic contact tracing.

However, in recent weeks there has been speculation that Beijing is considering a more significant relaxation of the zero-covid policy, which has favored risk appetite in the markets. Stocks in China, including Hong Kong, rose for a second day on Monday, for example, following the announcement of new measures to prop up the beleaguered real estate sector and the easing of the country’s strict Covid-19 restrictions.

Source: Fx Street

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular