May 31, 2022 - 12:40 PM 487 views
From June 1st, the Shanghai city
authorities plan to relax the COVID-virus-induced activity restrictions.While
announcing the news, the authorities mentioned that Shanghai city is slowly
moving towards a normalised epidemic control phase and seems to have completely
restarted normal life.
Airports will slowly increase the
number of flights and will also raise the passenger ratio.
Shopping malls and theatres will be
reopened and the seating capacity will be reduced by 75%.
However, the reopening of highly
populated places like gyms, schools, and exhibitions will be delayed.
From June 1st onwards,
all workers staying in the less COVID-prone areas will return to work.
It's worth mentioning that COVID-19
figures from Mainland China have been mixed recently, with zero virus-related
deaths but a rise in new local and confirmed cases. On May 30, mainland China
reported 174 new coronavirus cases, 50 of which were symptomatic and 124 of
which were asymptomatic, according to the National Health Commission. According
to Reuters, "there were 184 new cases a day earlier, made up of 34
symptomatic and 150 asymptomatic infections, which China tracks
The Market Response
Despite the recent US dollar (USD)
rebound, the news has kept markets positive, with the S&P futures
rising 0.20% in a day and the US treasury yield rising nine basis points (bps)