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: 08.05.2026 Expectation: 800 pips
Investing in AUDCAD with 0.98500 in sight
24 April 2026 22
Period: 01.05.2026 Expectation: 700 pips
Brent crude is correcting amid pre-weekend profit-taking
24 April 2026 46
Period: 24.06.2026 Expectation: 4600 pips
Selling GBPUSD ahead of BoE meeting
24 April 2026 27
Period: 30.04.2026 Expectation: 750 pips
SPX sell-off targets 7,050
24 April 2026 20
Period: 01.05.2026 Expectation: 840 pips
USDCAD is poised to take breather by week’s end before resuming its rise
24 April 2026 19
Period: 30.04.2026 Expectation: 1150 pips
Selling USDJPY down to 158.500 as resistance looms
23 April 2026 36
Go to forecasts