More than 3 years have passed since the onset of COVID-19. in the city of Wuhan, China and the detection of a global epidemic China remains firm in its Zero COVID policy. The key to full economic recovery While economists see that as China moves towards reopening the economic recovery may be slow. and not so smoothly After the number of daily infections has increased dramatically in the last few months. And although China is currently using measures called “Dynamic Zero-COVID” (Dynamic Zero-COVID), adding the word dynamic. But the intensity of the enforcement has not decreased.
Previously, Xinhua News Agency said 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 reacts favorably to this news Chinese stocks soar led by stocks in the consumer sector Both in Hong Kong and mainland China markets. Yuan Appreciates Against US Dollar
However, some analysts have warned that the path to coexistence with COVID may be slow. And not smoothly, with Mr. Lu Ting, chief economist at the Nomura Institute, thinks the outbreak of COVID-19 could return in the winter. This makes it more difficult to control the epidemic. Although the real economic recovery that comes from more domestic spending can occur during a fall in the numbers of the epidemic.
he gradually began to relax the strict control measures
over the past week China has begun to relax its stricter policies to prevent the spread of COVID-19, although no official announcement has been made. In Beijing, booths for COVID-19 tests have been demolished after the requirement to show negative results before entering places such as supermarkets was lifted. And prepare to cancel exam results for using the subway service on Monday. parts in different places including the office still have to show results The city of Shenzhen 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 December 2, down from 34,772 a day earlier. As of December 2, China had 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 the large-scale protests against the Chinese government’s coronavirus policies, but said that Omicron’s coronavirus helped pave the way for demands less strict.
The risk of a new round of epidemics drags on for several 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 a resurgence of another pandemic. affect the country’s public health system AND could lead to the announcement of strict control measures again. As we saw earlier this year. What happens will affect business operations. harm the economy
Although the Chinese government has repeatedly emphasized efforts to balance economic growth and contain the epidemic, But the endless lockdown measures Testing quarantine and carpet have made the people tired and impatient leading to massive protests in schools and in many cities
Over the past two years, Chinese service businesses have become victims of no-COVID policies as authorities restrict travel when new cases are detected. Although the industrial sector benefited from increased demand for medical products during the early stages of the epidemic. Come this year, it has suffered disruption. Exports are declining as the epidemic resumes intensification.
However, a Chinese government adviser said China’s economy would pick up as soon as possible to avoid a further slowdown. Goldman Sachs and UBS economists estimate China’s GDP will rise 4.5 percent next year, Morgan Stanley expects 5 percent, and Nomura expects 4 percent.
Author: Pensopha Sukontharak
