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After thousands of demonstrators took to the streets over the weekend to express their anger at the country’s draconian policies, Shanghai has eased some Covid restrictions, joining other first-tier Chinese cities as authorities accelerated a shift toward reopening the economy.
In a statement Sunday, the city government said the financial center would begin removing PCR testing requirements for entering outdoor public spaces such as parks and riding public transport starting Monday. Measures will “continue to be optimized and adjusted” according to national policies and circumstances, the statement said.
Shanghai, which endured a harsh two-month lockdown earlier this year, has joined other metropolises such as Beijing, Shenzhen and Guangzhou in easing restrictions in recent days. Over the past week, senior government officials have signaled a transition away from the toughest containment measures that have weighed on the economy and sparked anti-lockdown protests as public discontent mounts.
The rapid relaxation of demand has led to a sharp drop in the number of testing points in some cities, resulting in abnormally long queues. Authorities in Beijing’s Chaoyang district, currently one of the hardest-hit areas in the Chinese capital, said on Saturday they were “deeply sorry” for poor coordination leading to long wait times and resuming some stations.
China reported 30,889 new local Covid cases on Saturday, down from 32,206 the previous day, according to the latest official figures.
Chinese stocks have rallied recently on growing perceptions that the country is softening its pursuit of zero Covid. The Hang Seng China Enterprises Index soared 29 percent in November, its best monthly performance since 2003, while the benchmark Hang Seng posted its biggest monthly gain since 1998. The gains were largely driven by airlines, casinos, restaurant operators and other stock indexes. Stocks are expected to benefit from the reopening of the world’s second-largest economy. Investors are increasingly seen shifting bets away from travel and restaurant companies, whose shares have risen sharply, and toward longer-dated stocks such as consumer and healthcare stocks.
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Some capital cities also eased restrictions over the weekend. Kunming in southwestern Yunnan province will allow people to take public transport without PCR tests from Sunday, while Nanning in the neighboring Guangxi region has lifted the ban on all public places except hotels and tourist destinations. class testing requirements.
In Harbin, the capital of northeastern Heilongjiang province, test results will no longer be required to enter public places, while people leaving the city will only need to undergo one PCR test within 48 hours instead of two, the local government said late Saturday.
Urumqi reopened a ski slope and a pedestrian street on Sunday after a fire that killed more than 10 people last month sparked anti-lockdown protests, CCTV reported. Entertainment businesses such as hotels, restaurants, supermarkets and gyms will also resume normal operations on Monday as conditions are ripe for “normalized” containment measures, CCTV reported Sunday, citing a local government briefing.
When a fire broke out in a high-rise building in the regional capital of Xinjiang, suspicions that Covid restrictions had hampered rescue efforts sparked public outrage, fueling protests across the country as people gathered to commemorate the victims and demand an end to Covid restrictions. protest activity.
While the city’s easing measures cannot be interpreted as China’s abandonment of its Covid-zero policy, “we see them as clear evidence that the Chinese government is ready to back off and try to minimize the economic and social costs of Covid containment in China. At the same time, Shan Hui, chief China economist at Goldman Sachs Group Inc., and his colleagues wrote in a report on Sunday.
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