Shanghai lockdown fears linger as Xi goes under control measures


Xi, China’s city of 13 million entered a seven-day period of ‘temporary control measures’ after 18 coronavirus cases were found in the city and in accordance with the country’s ‘zero’ policy.

City official Zhang Xuedong said that Xi’an would implement “seven-day temporary control measures”, which include:

Public entertainment venues including pubs, internet cafes and karaoke bars will shut from midnight on Wednesday.

Restaurants will not be allowed to serve diners indoors but may continue to offer takeaway services.

Schools are to start the summer holiday early and universities will seal off their campuses.

Meanwhile, fears of a probable lockdown in Shanghai city amplified after the authorities launched mass testing in nine districts, where covid cases were detected in the past two days.

The nine districts, as well as some areas in another three districts, will conduct two rounds of Covid mass testing between Tuesday and Thursday in order to “identify and prevent outbreak risks as early as possible,” the city government said in a statement published on its official WeChat account.

A Shanghai city official said that they “will suspend operations of KTV karaoke venues in the city, other entertainment venues can remain open.”

However, he said that the “gradual reopening of cinemas and concert venues from July 8 will still go ahead.”

Shanghai reported fresh two covid infections of quarantine, as of Wednesday.

Market reaction

Risk sentiment has taken a fresh hit on China’s covid lockdown concerns, as the S&P 500 futures shaved-off early gains to now trade 0.28% on the day. USD/CNY, however, is falling 0.22% on the day to 6.7043, as of writing.

Source link


Please enter your comment!
Please enter your name here