Beijing closes parks and museums after China’s Covid cases increase
China’s capital has seen a record number of cases, proving the government’s recent commitment to relax its zero-Covid policy
Beijing closed parks and museums Tuesday. More Chinese cities resumed mass screening for Covid-19 as China battles an increase in cases nationwide, which has raised concerns about China’s economy.
China reported 28127 new local cases for Monday. This is close to its peak in April. The majority of cases were in China’s southern city of Guangzhou, and Chongqing in the southwest. Beijing is the capital. The number of cases has reached a new record high. This prompts calls for more residents not to move.
Two new deaths were attributed to Covid-19, as opposed to three that occurred over the weekend. These were China’s first since May.
This latest wave tests recent changes China made to its zero Covid policy. It asks authorities for more targeted clampdown measures, and to steer clear of the mass lockdowns and testing which have frustrated the economy and harmed its citizens.
Beijing warned Monday that it is facing the most severe pandemic test yet. Beijing tightened entry rules and required all arrivals from other parts of China to go through three days of Covid testing prior to being allowed to leave their accommodation.
Many museums were closed on Tuesday. Some venues, such as Happy Valley and Chaoyang Park in the city, which is a favorite spot for runners and picknickers said that they would close due to the epidemic. Beijing reported 1,438 additional local cases, an increase of 962 from Sunday’s 962.
Investors are hopeful that China’s decision earlier this month to use more targeted approaches in enforcing zero Covid curbs will lead to more significant easing. However, many analysts warn against being too optimistic.
“The real picture may be not as rosy” Nomura analysts stated in a separate note that they expected a reopening to accelerate after March next year’s reshuffle of China’s top leadership.
“Reopening could go back and forth, as policymakers might back down after witnessing rapid increases in social disruptions and cases. Nomura stated that local officials might be less willing to move the first when trying to discover Beijing’s true intentions.
Even with changes to targeted Covid approaches, China still maintains some of the most restrictive Covid restrictions in the world. The measures in Beijing and other cities have rekindled investor worries about the economy and caused global stocks and oil prices worldwide to drop overnight.
Nomura analysts stated Tuesday that their in-house index had estimated that 19.9% of China’s gross domestic product was being held hostage by localities. This is an increase from 15.6% on Monday.
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