Corona virus News: Shanghai plans to loosen up and relax traffic restrictions after the end of May.

On Friday, the Deputy Mayor of China’s Shanghai City, Wu Qingat, said in a statement that, "By mid-May, China’s financial centre is targeting to reach Zero-COVID at the community level."

May 13, 2022 - 02:40 PM 270 views

Corona virus News:  Shanghai plans to loosen up and relax traffic restrictions after the end of May.

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© Corona virus News: Shanghai plans to loosen up and relax traffic restrictions after the end of May.

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On Friday, the Deputy Mayor of China’s Shanghai City, Wu Qingat, said in a statement that, "By mid-May, China’s financial centre is targeting to reach Zero-COVID at the community level."

Key Quotes

Shanghai aims to open up, reduce traffic congestion, and open and manage shops in an orderly way.

Currently, more than 9000 big ventures are functioning with 50% occupancy.

China’s biggest battle is against the COVID-19 outbreak, and it still needs the joint effort of each individual in the country.

At present, Shanghai’s COVID testing capacity is more than 8 million in number and an average of 5,700 testing stations are functional.

The Market Reaction

The 0.72% recovery in the S&P Futures, which is an underlying topic this Friday, reflects the risk sentiment rebound.

As far as the above comments, they probably add the risk of recovery after an unstable week. 

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