The Shanghai Composite Index, China’s stock markets closed higher today. Responding to news, Shanghai announced the end of lockdown measures from June 1 onwards. This gives investors confidence that the decision will help China’s economy recover.
The Shanghai Composite Index closed at 3,186.43, up 37.37, or +1.19%.
Song Ming, deputy mayor of Shanghai, said on Wednesday (May 31) that Shanghai will allow department stores and shops to resume normal operations. including allowing people in low-risk areas to return to work
In addition, Shanghai will allow trains to resume normal service. and will increase the number of domestic flights including adjusting the passenger transport rate (Load Factor) as well
Ms Song’s statement came after the Shanghai municipal government said yesterday that Shanghai will lift the lockdown from Wednesday, June 1, with announcing measures to revitalize the economy and help businesses affected by the lockdown to contain the spread of the coronavirus. The measure includes tax and fee breaks for businesses affected by the lockdown.
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