9 January 2023 | Other

China phases out final COVID restrictions to tourists

Tourists can now reach mainland China by air, land and water — Beijing finally opened the borders on Sunday.  The country has been closed to foreigners almost since the outbreak of the COVID pandemic.

Three years later, China has opened sea and land crossings with Hong Kong. The country removed mandatory quarantine for incoming visitors. Thus, the last pillar of the zero COVID policy was eliminated. That restriction was used to protect Chinese residents from the virus, but also isolate them from the rest of the world.

Huge queues have formed at Hong Kong International Airport for flights to mainland cities including Xiamen, Beijing and Tianjin. Around two billion journeys are expected to be made during the current period, almost twice as much as it was in 2022. According to the government, an amount of travel will recover to 70% relative to the figures from 2019.

Investors believe the reopening will revive the Chinese economy. However, the abrupt policy change has triggered a massive wave of COVID, what caused business disruption and turmoil in public health services.

Company MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 66
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 50
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 52
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 31
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 66
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 67
Go to forecasts