- At a news conference on COVID-19 prevention and control overnight, China said it will speed up vaccinations for elderly and avoid excessive restrictions. China's CDC acknowledged recent complaints had been on excessive COVID curbs, said is working with local governments daily to resolve issues
- Authorities in various regions of China have released new regulations on nucleic acid testing requirements, allowing particular groups of people to be excluded from citywide mass testing. The adjustment of the regulation is to reduce the risk of cluster infections in crowds and save costs. The saving costs part is critical since local government coffers are fragile given the heavy cost of zero COVID-19 implementation. Several districts in Guangzhou, Guangdong Province, said yesterday that long-term homebound elderly people, students taking online classes, people who work from home and others with no social activities can be excluded from the citywide mass nucleic acid testing if they have no need to come outside.
- Social media is swirling on thoughts that the recent protests will force officials to reopen sooner than the widely expected March 2023 timeline. Protests have died down given heavier police presence.
- COVID-19 cases including local asymptomatic carriers totaled 38,421 yesterday - a drop below the 40k mark
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More flights from easing measures - major European airlines have announced plans to operate more direct flights between Shanghai and Europe from this week following China's optimized COVID prevention and control measures. Lufthansa German Airlines will add one more weekly flight from Frankfurt to Shanghai beginning Monday. Altogether, it will operate three weekly flights between Shanghai and Frankfurt. Austrian Airlines, which is also a part of Lufthansa Group, operates one weekly flight between Shanghai and Vienna. That's great news for my Long 1992.HK (Fosun Tourism Group).
- Property support -
- CSRC announced five measures to support equity financing for real estate companies
- Prior restrictions will be lifted for the purpose of M&A, restructuring, replenish working capital and refinancing.
- Regulator also aims to expand REIT market.
- Implementing the 16-point plan unveiled earlier this month
- Pledges by state-backed banks to provide at least $180B in funding
- Hu Xijin optimistic on reopening - I quoted his thoughts before, particularly on COVID-19. Hu is well-connected within the government circle and is a former editor of the Global Times. Hu said "China's current rate of severe cases is about 0.025%. Most Chinese people are no longer afraid of being infected. China may walk out of the sahdow of COVID-19 sooner than expected."
