When the Chinese government started imposing Zero Covid restrictions after the coronavirus pandemic erupted in 2020, local authorities across China had rolled out several measures such as rent subsidies and consumer vouchers to support business. But such measures have been absent this year Image Courtesy AP
Wuhan: As China wraps up its draconian Zero Covid policies, the Chinese population is facing a surge of Covid-19 cases amid a new wave of the coronavirus pandemic.
This new jump in the number of Covid-19 infections has come as a fresh blow for many small businesses in China’s central city of Wuhan, where the Covid-19 pandemic started three years ago. Although the easing of most curbs under the stringent Zero Covid policy was welcomed by most businesses, the cheer has quickly dissipated.
With people reluctant to step out due to the new surge in Covid-19 cases, bussinesses and industries around China are grappling with a scarcity of customers that has left the country facing an economic downturn this year.
This year’s lockdown has been tougher for Chinese businesses that the curbs of 2020 due to the lack of support from the government.
When the Chinese government started imposing Zero Covid restrictions after the coronavirus pandemic erupted in 2020, local authorities across China had rolled out several measures such as rent subsidies and consumer vouchers to support business. But such measures have been absent this year.
According to a report by news agency Reuters, surveys have shown that factory activity shrank in November due to widespread and draconian Covid-19 curbs, while exports and imports saw the biggest decline in more than two years, putting more pressure on the slowing Chinese economy.
Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.