whatsapp

China to set Economic Plans Amid Rise in COVID Cases

BEIJING: Ever since Chinese authorities eased relaxation on COVID norms, the estate has recorded a dramatic rise in its COVID cases. In the last 24 hours, 8500 fresh cases of the virus have been reported across the country. Beijing authorities said more than 22,000 patients had visited the hospital across the city which is 16 times the number a week ago.

Cold and fever medicines have been sold out across all pharmacies and rapid antigen test kits are dwindling as people stock up in anticipation of a virus surge that threatens the life of millions unvaccinated as the restrictions on traveling were eased.

In a major move Monday, Chian said it would retire an app used to track travel to areas with infections. The state-run “Communications Itinerary Card” was a central part of zero-Covid, keeping tabs on the movements of millions through their phone signal data.

Meanwhile, at the upcoming CEWC economist President Xi Jinping and his officials flesh out policy objectives for the coming year. Worried by the uncertainties in the already fragile economy they expect officials must now try to reverse some of the damage done to the economy from three years of stringent Covid controls and the worst downturn in the property market in modern history, which have battered consumer and business confidence.

This year’s CEWC “will provide the first real signal of what the leadership envisions for economic policy after the end of Covid Zero,” said Christopher Beddor, deputy China research director with Gavekal Dragonomics. “It’s probably going to mark the start of a new chapter in economic policy making.”

Related Articles

Back to top button