26 December 2022 | Macroeconomics

China is back to life after COVID restrictions were lifted

Beijing and Shanghai residents took to the streets and crowded subways of Chinese cities on Monday as COVID restrictions have been partially lifted. 

Following three years of pandemic, the Chinese government has finally announced a shift in the "zero COVID-19" policy. Despite the initial upheaval caused by the abrupt policy change, and several weeks spent at home by Beijing and Shanghai residents fighting or trying to avoid the disease, there are some signs that the situation may be getting back on track.

The Beijing and Shanghai subways were crowded on Monday, with major traffic jams being on the highways. 

China appears to be the last major country to recognize COVID-19 as endemic. Measures taken to fight the coronavirus have caused the country's economy to slow to its lowest level in 50 years. There has also been a disruption of global supply chains and a suspension of trade.

Analysts believe the world's second-largest economy is going to experience difficulties in the short term. This is due to the continued spread of COVID-19 across industrial areas. But the situation is likely to get better over the next year.  

Company MarketCheese
Period: 03.12.2024 Expectation: 1000 pips
Tariffs of Trump threats send USDCAD to 4-year high
Today at 11:45 AM 23
Period: 30.11.2024 Expectation: 2100 pips
EURUSD is poised to surge higher as correction continues
Today at 09:38 AM 39
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Currencies" and "Metals"
2nd in the segment "Oil and gas"
Period: 20.12.2024 Expectation: 2470 pips
GBPUSD is targeting 1.2300 level as selling pressure increases
Yesterday at 08:20 AM 63
Alexandra_Belova
Alexandra_Belova

Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
2nd in the segment "Currencies"
Period: 29.11.2024 Expectation: 800 pips
Silver buyers get ready to test 31.5 level
25 November 2024 89
Gold sell
Period: 01.12.2024 Expectation: 8110 pips
Gold loses ground as demand for safe haven assets wanes
25 November 2024 211
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segments "Currencies" and "Metals"
2nd in the segment "Oil and gas"
Period: 29.11.2024 Expectation: 700 pips
AUDCAD does not exit downward trend lines
22 November 2024 60
Go to forecasts