Investing VoiceInvesting Voice

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Directional Vertical Strategy with Protection from a Shorter Duration Vertical (Members Preview)

    February 2, 2023

    Gilead’s Stock is on Sale: Should You Buy?

    February 2, 2023

    Trading Option Calendars: Short vs Longer Term Duration Calendars Ep 217

    February 1, 2023
    Facebook Twitter Instagram
    Trending
    • Directional Vertical Strategy with Protection from a Shorter Duration Vertical (Members Preview)
    • Gilead’s Stock is on Sale: Should You Buy?
    • Trading Option Calendars: Short vs Longer Term Duration Calendars Ep 217
    • How to Play the Pound and UK ETFs Now?
    • Getting started with dividend investing
    • Top Stock Picks for the Week of June 17, 2019
    • Common investing mistakes – part 3
    • 5 Top Non-Tech Earnings Charts
    Facebook Twitter Instagram
    Investing VoiceInvesting Voice
    • Home
    • News

      Saudi Aramco bets on being the last oil major standing

      January 12, 2023

      The coming corporate dramas in Hollywood’s age of anxiety

      January 12, 2023

      Avatar ticket sales breathe life into Disney’s blockbuster machine

      January 12, 2023

      Disney board names Nike veteran Mark Parker as new chair

      January 11, 2023

      British politics is still suffering from ‘long populism’

      January 11, 2023
    • Investing

      Top Wall Street analysts pick these stocks to celebrate the new year

      January 8, 2023

      Traders who bet against stocks made a killing in 2022, as short sellers netted $300 billion

      January 6, 2023

      Fed’s Esther George sees rates staying high at least into 2024

      January 5, 2023

      Alibaba, other China ADRs surge as Ant Group capital plan approval fuels hope for relaxing scrutiny

      January 4, 2023

      Top Wall Street analysts like these stocks in 2023

      January 1, 2023
    • Trader Talk

      Burton Malkiel on why his classic investment book, ‘A Random Walk Down Wall Street,’ is relevant 50 years later

      January 6, 2023

      Want to learn to be a better long-term investor in 2023? Two classic books are out in new editions.

      January 5, 2023

      SEC pushes ahead with slate of proposals to boost corporate reporting, disclosure requirements

      November 2, 2022

      Wall Street’s texting problem forces unhappy regulators to send a billion dollar message

      September 28, 2022

      Trading exchange execs ask if tough times are ahead as market-altering rules loom

      June 8, 2022
    • Stock Market

      Inflation is expected to have declined in December, but it may not be enough to stop the Fed

      January 11, 2023

      Stocks making the biggest moves midday: Bed Bath & Beyond, Tesla, Expedia and more

      January 11, 2023

      Stocks making the biggest moves premarket: CarMax, Salesforce, Coinbase and more

      January 11, 2023

      Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more

      January 10, 2023

      Stocks making the biggest moves premarket: Oak Street Health, Frontline, Boeing and more

      January 10, 2023
    • Bonds

      Los Angeles County Supervisors declare homelessness state of emergency

      January 12, 2023

      David Hodapp to leave MSRB

      January 12, 2023

      HilltopSecurities hires 12 from Prager as it expands in New York, California

      January 12, 2023

      Tennessee governor sees P3 plan as key to state’s highway hopes

      January 11, 2023

      Fed’s Collins leans toward downshifting to a quarter-point hike

      January 11, 2023
    • Real Estate

      China’s reopening set to boost Hong Kong’s property market as retail leads the recovery: Colliers

      January 12, 2023

      Hey Boomer: An Old Folks Home For The Generation Who Never Trusted Anyone Over 30

      January 11, 2023

      Hidden In Plain Sight: $17 Million Home In A Southern California Celebrity Magnet

      January 11, 2023

      NBA’s CJ McCollum Lists His Hard-Earned Trophy Home Near Portland

      January 11, 2023

      Wells Fargo Is Backing Out Of The Mortgage Market – What Does It Mean For Homebuyers?

      January 11, 2023
    • Cryptocurrency

      FTX customers are safe from being doxxed, for now

      January 12, 2023

      Ava Labs partners with AWS to offer one-click node deployment

      January 12, 2023

      A key change in Ethereum options pricing hints that ETH price could rise beyond $1,350

      January 11, 2023

      Solana price rally risks exhaustion after SOL’s 120% pump in two weeks

      January 11, 2023

      Bitcoin price taps $17.5K as traders in ‘disbelief’ doubt crypto rally

      January 11, 2023
    • Bitcoin

      From Bernie Madoff to Bankman-Fried: Bitcoin maximalists have been validated

      January 12, 2023

      Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager

      January 12, 2023

      Bitcoin surges above $18K to cap 8-day winning streak

      January 12, 2023

      JPMorgan CEO Jamie Dimon on US Economy: ‘I Shouldn’t Ever Use the Word Hurricane’

      January 12, 2023

      El Salvador passes landmark crypto bill, paving way for Bitcoin-backed bonds

      January 12, 2023
    • Videos

      Directional Vertical Strategy with Protection from a Shorter Duration Vertical (Members Preview)

      February 2, 2023

      Gilead’s Stock is on Sale: Should You Buy?

      February 2, 2023

      Trading Option Calendars: Short vs Longer Term Duration Calendars Ep 217

      February 1, 2023

      How to Play the Pound and UK ETFs Now?

      February 1, 2023

      Getting started with dividend investing

      February 1, 2023
    • Contact
      • About us
      • Amazon Disclaimer
      • DMCA / Copyrights Disclaimer
      • Privacy Policy
      • Terms and Conditions
    Investing VoiceInvesting Voice
    Home»News»China blames local officials for outbreaks as Beijing sticks to zero-Covid plan
    News

    China blames local officials for outbreaks as Beijing sticks to zero-Covid plan

    Richard MaddenBy Richard MaddenNovember 29, 2022No Comments
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    China’s health authorities on Tuesday blamed local governments for their handling of coronavirus outbreaks as Beijing distanced itself from the crisis after unprecedented protests against President Xi Jinping and his zero-Covid policy.

    The National Health Commission reaffirmed Beijing’s commitment to the zero-Covid measures and pledged to boost vaccination rates among the elderly, a day after police and security forces appeared to have stamped out demonstrations across at least 18 cities.

    Without acknowledging the protests directly, Chinese officials argued that public complaints centred on the implementation of China’s strict prevention and control measures — an area that is the responsibility of local governments — rather than Beijing’s zero-Covid policy itself.

    They added that local officials should focus on minimising inconveniences to the public caused by the outbreaks and pledged to increase central supervision.

    “Some local governments take a one-size-fits-all approach, and take excessive policy steps that have neglected the demands of the public,” said commission spokesperson Mi Feng, adding that lockdown extensions had at times been “reckless” and enforced far beyond the necessary timeframes.

    Experts said China’s huge numbers of unvaccinated elderly were holding back a change to the zero-Covid strategy, which includes lockdowns, mass testing, quarantines and electronic contact tracing. That is despite the relentless restrictions battering economic growth and stoking civil unrest.

    “Some places are facing the most complicated and severe situation in the three years since the fight against the epidemic,” Xia Gang, of the Bureau of Disease Prevention and Control, told reporters in Beijing.

    Chinese state media have not reported on the recent protests, instead reiterating the benefits of Beijing’s zero-Covid policy. The People’s Daily, the main state-sponsored newspaper, ran a rallying editorial celebrating the Communist party.

    Ernan Cui, an analyst with research group Gavekal, said that while the central government was “still rhetorically committed” to the zero-Covid policy “the reality is that local governments . . . are no longer able to make it work”.

    “The orderly reopening once envisaged by public-health officials, with an extensive vaccination campaign and new treatments prepared in advance is almost certainly out of reach now,” she said.

    However, the fact that Beijing refrained from even more drastic coronavirus controls, despite record case numbers, was seen as a positive signal by some analysts.

    Zhiwei Zhang, Beijing-based chief economist at Pinpoint Asset Management, said he felt “more optimistic”, pointing to the elderly vaccination drive and state media efforts to downplay the severity of the Omicron variant.

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.


    According to the latest official statistics, 32 per cent of China’s 267mn people over the age of 60 have not received their third vaccine dose. That figure jumps to 60 per cent for the over-80s. The booster is required to attain high levels of protection against the Omicron variant.

    The NHC vowed to ramp up pressure on elderly Chinese to complete their inoculations but stopped short of any vaccine mandates.

    In markets, traders bid up shares on hopes that Beijing would ease some of its pandemic controls, following a sell-off at the start of the week that led global markets lower.

    Online censors have also been scrubbing images and videos of the protests. Students at campuses across China held white sheets of paper during the weekend’s demonstrations, a symbol of their inability to express dissatisfaction with government policies.

    Chinese television channels limited close-ups of maskless football fans during broadcasts of the World Cup in Qatar. That followed an online backlash from domestic viewers questioning why China continued to implement lockdowns as the rest of the world dropped restrictions.

    State broadcaster CCTV zoomed in on players and officials after a goal was scored instead of close-ups of fans celebrating.

    One Beijing-based football fan, who goes by the nickname Menzhu, first spotted that CCTV was cutting broadcasts of fans during the France versus Denmark match on Sunday.

    “The broadcast was very strange. There was no replay after the goals. At first, I thought the broadcast technicians made a mistake, but then I realised the live broadcast had avoided images of fans,” Menzhu said.

    China’s zero-Covid policy, which has restricted movement, required daily monitoring and consigned 1.9mn people to quarantine facilities, has fuelled frustration.

    Officials in several cities — including Wuhan, the scene of one of the biggest mass protests on Sunday — appeared to ease some local-level restrictions of movement on Monday.

    However, Shanghai on Tuesday imposed a new round of closures on some businesses and quarantines of close coronavirus contacts.

    China’s caseload remains low by almost all international comparisons, yet areas with at least partial lockdowns and travel restrictions account for more than 25 per cent of China’s gross domestic product, according to an analysis by Nomura, the Japanese bank. That exceeds the peak of about 21 per cent in April, when Shanghai was locked down.

    While officials have resisted announcing citywide lockdowns in response to the record surge in cases, Ting Lu, Nomura’s chief China economist, argued that China’s “de facto lockdowns may be tougher than de jure lockdowns”. This is because local officials believe their performance is determined by avoiding sharp rises in case numbers.

    “Although Shanghai-style full lockdowns may be avoided, partial lockdowns in a rising number of cities may be more costly than full lockdowns in just a couple of cities,” he said. “The rapid increase in public discontent over the lockdowns over the past weekend may further cloud the road to reopening.”

    The severity of the economic damage is also reflected in intracity mobility data — a short-term metric of economic momentum — with metro passenger trips in 15 big Chinese cities down 41 per cent on the previous year, dropping from a 24 per cent year-on-year decline a week earlier.

    The country of 1.4bn people reported 37,477 new locally transmitted cases of the virus on Tuesday, down slightly from the record 38,808 reported the day before.

    Additional reporting by William Langley and Cheng Leng in Hong Kong, and Nian Liu and Ryan McMorrow in Beijing

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Richard Madden

    Richard doesn’t only cover Blockchain and crypto, but he does focus the bulk of his writing efforts on this emerging technology and how it is impacting not just US markets, but global markets too.

    Related Posts

    Saudi Aramco bets on being the last oil major standing

    January 12, 2023

    The coming corporate dramas in Hollywood’s age of anxiety

    January 12, 2023

    Avatar ticket sales breathe life into Disney’s blockbuster machine

    January 12, 2023

    Leave A Reply Cancel Reply

    Advertising
    Top Posts

    Hop Protocol launches USDC bridge between Ethereum, Polygon and xDai

    July 13, 2021

    Puerto Rico in bankruptcy deal with unsecured creditors

    July 13, 2021

    Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

    July 13, 2021

    New York Fed Survey Shows Inflation Expectations Highest Ever Recorded

    July 13, 2021
    Don't Miss

    Directional Vertical Strategy with Protection from a Shorter Duration Vertical (Members Preview)

    By Richard MaddenFebruary 2, 2023

    Today I’m going to show you an option trading strategy using directional verticals and protecting…

    Gilead’s Stock is on Sale: Should You Buy?

    February 2, 2023

    Trading Option Calendars: Short vs Longer Term Duration Calendars Ep 217

    February 1, 2023

    How to Play the Pound and UK ETFs Now?

    February 1, 2023
    Advertising
    Stay In Touch
    • Facebook 189.9K
    • Twitter 19.5K
    • Instagram 21.9K

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    About Us
    About Us

    Investingvoice.com offers original coverage of the global blockchain and cryptocurrency news, provides opinions, reviews, guides, introduces to Crypto people with an aim to help the general public understand and successfully use these technologies now and in the future.

    Facebook Twitter YouTube
    Our Picks

    Directional Vertical Strategy with Protection from a Shorter Duration Vertical (Members Preview)

    February 2, 2023

    Gilead’s Stock is on Sale: Should You Buy?

    February 2, 2023

    Trading Option Calendars: Short vs Longer Term Duration Calendars Ep 217

    February 1, 2023
    Most Popular

    Hop Protocol launches USDC bridge between Ethereum, Polygon and xDai

    July 13, 2021

    Puerto Rico in bankruptcy deal with unsecured creditors

    July 13, 2021

    Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

    July 13, 2021
    © 2023 InvestingVoice.com Designed by ThemeSphere.
    • Home

    Type above and press Enter to search. Press Esc to cancel.