COVID cases in China are spiraling towards record highs, forcing officials to again lock down large swaths of the country, Report informs referring to Financial Times.
The world’s second-biggest economy reported nearly 28,000 new COVID cases on November 22, with outbreaks in the Chinese capital, the southern manufacturing hub of Guangzhou and the southwestern metropolis of Chongqing continuing to grow.
Chinese officials in Beijing shut most non-essential businesses in the city’s largest district, Chaoyang, which has a population of 3.4 million, and have closed restaurants and other entertainment venues in much of the city, while telling residents to work from home.
“China is seeing a record level of lockdowns,” said Ting Lu, chief China economist at Nomura. “It’s even a bit worse than during the [spring] Shanghai lockdown because so many cities are partially locked down.”
The bank estimates COVID restrictions have hit areas responsible for one-fifth of China’s GDP.