China reports new daily Covid cases, tightens restrictions, worsens economic outlook

Number of cases per day COVID-19 Inside China A reached Record since the start of the pandemicAmid multiple outbreaks and restrictions across the country, official data showed on Thursday.

China recorded the total 31,444 new cases On Wednesday, 27,517 of those people were asymptomatic, the country’s national health office of 1.4 billion people pointed out.

The previous record was from mid-April this year, with 29,317 infections, coinciding with the confinement of Shanghai, the world’s third most populous city, which lasted two months and caused supply problems for its citizens.

China’s National Health Commission also added Two diedThis brings the total number of deaths from the disease to 5,232.

China is the only major economy in the world to seek to completely eradicate the virus from its territory by locking down entire cities, isolating positive contacts and mass testing under a strict “Zero Covid” policy.

Chinese capital enjoys Its worst pandemic outbreak since the pandemic began in late 2019. Dozens of residential properties were restricted and most companies switched to teleworking.

Beijing reported nearly 1,500 new cases on Wednesday, with most of its population of 22 million asymptomatic. Although this is very low compared to international standards, it is the highest figure in the city.

Schools, restaurants and shops were closed for fear of quarantine Due to these restrictions, the fatigue and mental exhaustion of the residents did not stop increasing, often vague and changing, the duration of which is not announced in advance.

Restrictions have also taken their toll Chinese residents are increasingly frustratedIt has also caused vibrations in the production of factories including the world’s largest iPhone factory. Violent clashes between workers and security personnel A rare disagreement.

“We believe that Reopening can be a long process with high costs”, Nomura analysts wrote in a note. brokerage Its GDP forecast has been cut to 2.4% yoy from 2.8% in the fourth quarter, and cut its full-year growth forecast to 2.8% from 2.9%.

“The Chinese leadership is steadfast in its policy.”Zero covid”, including some of the strictest restrictions in the world, saying it is necessary to save lives and prevent the medical system from being overwhelmed.

However, the cabinet said China would use timely cuts to banks’ cash reserves and other measures to acknowledge pressure on the economy. Monetary policy instruments State media said on Wednesday that a cut in the required reserve ratio (RRR) could be imminent to ensure adequate liquidity.

Los Chinese stocks fell on ThursdayConcern over the number of registered cases overshadowed hopes of new economic stimulus.

Although official infection figures are low compared to global standards, China is trying to break all chains of infection, a global exception under President Xi Jinping’s flagship policy.

(With information from AFP and Reuters)

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