Covid cases, controls spread in China

Covid cases, controls spread in China

• “Since the 20th National Party Congress kicked off on 16 October, domestic Covid case numbers have been clearly on an upward trajectory,” Nomura’s chief China economist Ting Lu and a team said in a report Thursday.
• The Nomura analysts said they expect China’s stringent Covid controls will remain at least until March, “when the political reshuffle will be fully completed and the new leaders fully take over the cabinet.”
• On Wednesday, Premier Li Keqiang headed a State Council meeting that called for promoting a pickup in growth in the fourth quarter, from the third, state media said

BEIJING — Covid controls in China have tightened in the last two weeks after more cities reported virus outbreaks.

The restrictions on business and social activity affected 9.2% of China’s gross domestic product as of Thursday, up from 7% on Oct. 16, according to Nomura’s model.

“Since the 20th National Party Congress kicked off on 16 October, domestic Covid case numbers have been clearly on an upward trajectory,” the firm’s chief China economist Ting Lu and a team said in a report Thursday. “The national lockdown situation has been getting … significantly worse.”

https://www.cnbc.com/2022/10/28/covid-cases-controls-spread-in-china.html