After the strict lockdown in the Chinese metropolis of Shanghai, there are further easing. From an economic point of view, this is also sorely needed. The negative consequences of the tough restrictions that have been in place since March are massive.
The Chinese metropolis of Shanghai has announced further easing of the strict measures in the fight against the corona virus. The current epidemic situation has stabilized and continues to improve, said Shanghai government spokeswoman Yin Xi. The strategy is now normalized precaution and control. The test regulations would be made easier from Monday.
A shopping center in the city center, which offers luxury brands, among other things, opened on Sunday after weeks of closure. From Wednesday onwards, the lockdown, which lasted two months, is to be essentially lifted in the economic and financial metropolis, which is home to around 25 million people. From Wednesday, anyone who wants to use public transport or enter public space must present a negative PCR test that is not older than 72 hours. Previously it was 48 hours. This should make it easier to resume work, spokeswoman Yin said.
Bus services around the city’s main airport and main financial center are expected to fully resume by Monday. 240 financial institutions are scheduled to reopen on Wednesday. Important manufacturers from the automotive, chemical and semiconductor industries, among others, have been allowed to produce since the end of April.
In March, Shanghai imposed a lockdown due to a flare-up of corona infections. Public life was shut down in two stages by April 5th. Around 100 corona cases were recorded in Shanghai on Sunday and 21 in Beijing. This reflects a nationwide downward trend in the number of infections. No deaths related to the virus have been reported in China. In Beijing, some museums, libraries, theaters and fitness studios were reopened to visitors on Sunday – although the number of people is limited and this only applies to districts in which no new corona case has been registered for seven days in a row.
The announced easing comes amid massive economic damage from lockdowns in Shanghai and elsewhere. Across the country, property sales in April fell at their sharpest rate in 16 years, while industry slowed output, retail sales slowed and investment growth was weaker-than-expected. The unemployment rate in China has soared to its highest level in more than two years. Some economists even expect that the world’s second largest economy after the USA could shrink in the current second quarter.
