Index Investing News
Monday, May 12, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

China’s capital city Beijing battles Covid with more apartment lockdowns

by Index Investing News
November 27, 2022
in Markets
Reading Time: 4 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


BEIJING — China’s capital city is grinding to a near standstill as Covid controls spread.

More and more apartment compounds in Beijing on Friday forbade residents from leaving for at least a few days. That’s on top of a growing number of bans on business activity, which have forced gyms to close and restaurants to halt in-store dining.

“This morning most of our 30+ staff reported their communities went into a 7-day lockdown,” James Zimmerman, partner in the Beijing office of Perkins Coie, said on Twitter Friday. He said a day earlier, the firm had to tell all its employees to work from home.

It was not clear how many people were affected at a city level, and to what degree stay-in-place measures were being enforced. Beijing has a population of roughly 22 million.

Covid restrictions have tightened in Beijing while infections keep soaring, prompting lockdowns of communities.

Jade Gao | Afp | Getty Images

“You constantly hear of someone going into lockdown and you have this constant feeling that you’re going to be next,” Joerg Wuttke, president of the EU Chamber of Commerce in China, said Friday. He estimated that about 40% of people in his office area were locked down.

Beijing city government did not immediately respond to a request for comment.

Municipal authorities have not announced a city-wide lockdown, and warned it’s in a “critical” period for controlling the virus.

Local infections have surged despite gradual tightening of Covid measures over the last two weeks. Beijing city reported more than 1,800 Covid infections for Thursday, bringing the total for the month to well over 10,000.

Other parts of mainland China have reported similar surges in infections — to a nationwide new daily high of more than 32,000 for Thursday.

The central government this month sent an encouraging signal to investors about future reopening by trimming quarantine times, among other changes. But the zero-Covid policy itself didn’t change.

“Initially when the [new measures] came out, we did feel somewhat positive. But now, we’re finding that interpretation varies widely,” said Jennifer Birdsong, Chengdu-based member of the EU Chamber’s Southwest China Chapter Board. “There is a great deal of variation in what may be interpreted as necessary lockdown.”

“Right now, we are also in a situation where bars, restaurants and gyms, all of them [were] closed last night,” she said, adding that business owners are frustrated by the lack of notice.

She said the restrictions mean some workers have had to sleep at factories, only to find they aren’t able to get food delivered.

Plunge in road traffic

Data show that people in Covid-hit areas are moving around less, willingly or unwillingly.

Baidu traffic data showed Beijing has fallen from being the most congested city in all of China to 74th place.

Subway ridership in the southwestern municipality of Chongqing plunged by nearly 99% from a year ago, according to a Goldman Sachs report Friday.

That in the southern city of Guangzhou fell by about 65% from last year, the report said.

Guangzhou, the capital of the export-heavy province of Guangdong, has been hardest hit by this month’s Covid wave. Some frustrated residents have even broken through lockdown barriers, local officials said Thursday, according to state media.

Only parts of the city have locked down. But businesses are worried and are working overtime to make sure they can fulfill their orders without disruption, said Klaus Zenkel, vice president at the EU Chamber of Commerce in China and chairman of its South China chapter.

He said one company in the food industry had to lock down for about a week, and lost hundreds of tons of an unspecified material.

Read more about China from CNBC Pro

EU Chamber members in Shanghai are moving meetings online and taking other preventative measures, while in the northern city of Shenyang, restaurants and gyms have had to close again, local business representatives said.

Overall, the EU Chamber noted Friday a need for greater emphasis on vaccinating the local population. China lags the U.S. and Singapore when it comes to vaccination rates for seniors.

Chinese authorities have focused in recent months on using frequent virus testing and more targeted measures in an attempt to control Covid outbreaks while allowing some business activity.

“We will keep pushing papers … to the [Chinese] administration, because I think they are soul-searching how to deal with this situation,” Wuttke said. “China has a zero-tolerance policy and finds it difficult to get itself out of this corner.”

China censors fresh online criticism of zero-Covid measures





Source link

Tags: apartmentbattlesBeijingCapitalChinasCityCOVIDlockdowns
ShareTweetShareShare
Previous Post

Macy’s (M), Target (TGT), Dollar Tree (DLTR): Major retailers and a costly holiday season

Next Post

How I-Bond Rates Reset – Econlib

Related Posts

Prime Wall Avenue analysts recommend 3 shares for stable development potential

Prime Wall Avenue analysts recommend 3 shares for stable development potential

by Index Investing News
May 11, 2025
0

The U.S. Federal Reserve lately introduced its plan to maintain rates of interest regular, cautioning, "uncertainty in regards to the...

Trump contemplating government order to hurry building of nuclear crops – NY Instances

Trump contemplating government order to hurry building of nuclear crops – NY Instances

by Index Investing News
May 11, 2025
0

Could 10, 2025 8:25 PM ETInternational X Uranium ETF (URA), NLRCEG, NRG, CCJ, LEU, UUUU, DNN, UEC, NXE, URNM, OKLO,...

Powell might have a tough time avoiding Trump’s ‘Too Late’ label whilst Fed chief does the proper factor

Powell might have a tough time avoiding Trump’s ‘Too Late’ label whilst Fed chief does the proper factor

by Index Investing News
May 10, 2025
0

U.S. Federal Reserve Chair Jerome Powell speaks throughout a press convention following a two-day assembly of the Federal Open Market...

Investor Ric Edelman reacts to crypto ETF increase

Investor Ric Edelman reacts to crypto ETF increase

by Index Investing News
May 11, 2025
0

Bitcoin's milestone week comes as new crypto exchange-traded funds are hitting the market.Investor and best-selling private finance writer Ric Edelman...

America failing its younger traders, warns monetary guru Ric Edelman

America failing its younger traders, warns monetary guru Ric Edelman

by Index Investing News
May 11, 2025
0

One of the acknowledged names in private finance is urging People to extend their monetary literacy, and urging the nation...

Next Post
How I-Bond Rates Reset – Econlib

How I-Bond Rates Reset - Econlib

Warren Buffett explains his 0 million charitable donation on Thanksgiving eve

Warren Buffett explains his $750 million charitable donation on Thanksgiving eve

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Does It Live Up to the Hype?

Does It Live Up to the Hype?

November 16, 2022
“I’ve By no means Seen Costs Bounce This Excessive, This Quick” – Funding Watch

“I’ve By no means Seen Costs Bounce This Excessive, This Quick” – Funding Watch

March 14, 2022
B-21 Raider Joins US Nuclear Triad

B-21 Raider Joins US Nuclear Triad

December 5, 2022
Foundry Commercial Breaks Ground on Coral Springs Industrial Park – Commercial Property Executive

Foundry Commercial Breaks Ground on Coral Springs Industrial Park – Commercial Property Executive

October 25, 2022
Captain Jason Chambers Reveals What Really Went Down with Lala Kent and RHOM’s Adriana de Moura

Captain Jason Chambers Reveals What Really Went Down with Lala Kent and RHOM’s Adriana de Moura

December 22, 2023
China says no ongoing commerce talks with the U.S., requires canceling ‘unilateral’ tariffs

China says no ongoing commerce talks with the U.S., requires canceling ‘unilateral’ tariffs

April 24, 2025
Pepe Value Prediction for As we speak, January 8 – InsideBitcoins

Pepe Value Prediction for As we speak, January 8 – InsideBitcoins

January 8, 2025

S&P500 simply entered bear market : shares

May 21, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In