Shanghai to Lift ‘Unreasonable’ Curbs on Firms, Beijing Eases Restrictions

People entering public venues or taking public transport would need to show a negative PCR test taken within 72 hours, up from 48 hours previously.

Bus services within the Pudong New Area, home to Shanghai’s largest airport and the main financial district, would fully resume by Monday, officials said.

Plaza 66, a mall in central Shanghai that hosts Louis Vuitton and other luxury brands, reopened on Sunday.

Authorities have been slowly relaxing curbs, with a focus on getting manufacturing going again.

More people have been allowed to leave their homes and more businesses can reopen, though many residents remain largely confined to housing compounds, and most shops are only open for delivery service.

Private cars are not allowed out without approval, and most of the city's public transport is shut. Authorities have yet to announce detailed plans for how the lockdown will be lifted.

Gyms and libraries

In the capital Beijing, libraries, museums, theatres, and gyms were allowed to reopen on Sunday, though with limits on numbers of people, in districts that have seen no community Covid-19 cases for seven consecutive days.

The districts of Fangshan and Shunyi will end work-from-home rules, while public transport will largely resume in the two districts as well as in Chaoyang, the city’s largest. Still, restaurant dining is banned throughout the city.

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Shanghai reported just over 100 new Covid cases on Sunday, while Beijing recorded 21, both in line with a falling trend nationwide.

China’s economy has shown signs of recovery this month following an April slump but activity is weaker than last year and many analysts expect a second-quarter contraction.

The strength and sustainability of any recovery will depend largely on Covid, with the highly transmissible Omicron variant proving hard to wipe out, and prone to comebacks.

Investors have worried about the lack of a roadmap for exiting the zero-Covid strategy of ending all outbreaks at just about any cost, a signature policy of President Xi Jinping. He is expected to secure an unprecedented third leadership term at a congress of the ruling Communist Party in the autumn.

Markets expect more support for the economy.

“We expect policies to ease further on the fiscal front to boost demand, given downward pressures on growth and the uncertainty of the recovery pace,” Goldman Sachs analysts wrote in a Friday note.

Source: Reuters