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
Brent sell
Period: 11.07.2025 Expectation: 400 pips
Brent falls ahead of OPEC+ decisions
Yesterday at 10:05 AM 22
Period: 18.07.2025 Expectation: 900 pips
AUDCAD is likely to keep pulling back from its monthly high
Yesterday at 08:08 AM 22
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
03 July 2025 45
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
03 July 2025 127
Period: 08.07.2025 Expectation: 1500 pips
EURUSD rally faces potential correction toward 1.165
02 July 2025 72
Period: 09.07.2025 Expectation: 1400 pips
USDCAD declines amid US dollar weakness and improving Canadian trade prospects
02 July 2025 50
Go to forecasts