'Life is moving forward again!' the People’s Daily wrote in an editorial. Read more at straitstimes.com.
for three years but caused widespread mental agony and severe damage to the world’s second-largest economy.
China’s top health officials and state media have repeatedly said Covid-19 infections are peaking across the country, and they are playing down the threat now posed by the disease. Shrugging off those gloomy forecasts, investors are betting that China’s reopening will help revive the US$17 trillion economy and bolster the outlook for global growth.
“The ending of the zero-Covid policy is... going to have a major positive impact on domestic spending,” Mr Ralph Hamers, Group Chief Executive Officer at UBS, told the bank’s annual Greater China Conference on Monday. “We believe there is a lot of opportunity for those committed to investing in China.”
However, a spike in demand from South Koreans, who make up the largest number of foreign residents in China, as well as others, will be hampered by the limited number of flights to and from China, which are currently at a small fraction of pre-Covid-19 levels.
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