Covid lockdowns return to key Chinese port cities

Covid lockdowns are ticking up in China again, with neighborhoods in key port cities such as Shenzhen and Dalian forced back home this week and mass testing underway at other important maritime gateways, including Tianjin.

There is no let-up in the government’s zero-covid policy, which has dramatically stretched global supply chains this year. The difference today is that while outbreaks have been getting more widespread in the last fortnight, lockdowns are pursued neighborhood by neighborhood rather than city-wide, and quarantine times have been cut back since the middle of June, according to analysis from research firm Gavekal Dragonomics.

Nevertheless, the quickening spread of the omicron variant has some analysts concerned.

At a news conference Monday, Shenzhen officials said the latest outbreak is mainly driven by the new subvariant Omicron BF.15, which they said is more transmittable and harder to detect.

Nearly a quarter of European companies in China are considering shifting their investments out of the country thanks primarily to the nation’s strict covid policies, results from a survey released in June by the EU Chamber of Commerce in China said. A similar sentiment was echoed in other reports from American and British chambers of commerce.

Source: Splash247

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