China urges local govts to minimize impact from COVID-19 curbs over Lunar New Year -Breaking
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© Reuters. FILEPHOTO: A coronavirus epidemic (COVID-19), continues to infect Beijing, China on January 13, 2022. REUTERS/Thomas PeterBEIJING (Reuters), – China’s top state planner urged local governments on Sunday to reduce the COVID-19 restrictions that will be in place for the Lunar New Year. The COVID-19 restrictions are meant to limit consumption. Rising Omicron cases could threaten economic growth.
In a statement, the National Development and Reform Commission stated that “Local governments need to avoid simplifying and one-size fits all… COVID-19 disease and control measures (over holiday) and minimize their impact on the people’s lives.”
According to the report, low-risk destinations in China are able to meet both the short-term demand from rural and urban residents and increase supply over holiday periods.
China reports local Omicron cases in at least five provinces, municipalities in China. This includes a case in Beijing that occurred on Saturday.
Residents are being urged to remain put during this busy travel season by many local authorities.
China’s economy likely experienced its lowest growth rate in 1 1/2 years during the fourth quarter. This was due to weaker demand, curbs on borrowing, and COVID-19 strict measures.
Sunday’s statement by the NDRC also stated that it supported the development of the real estate market as well as legitimate home buyer demand. It asked local governments for increased oversight to prevent unfair competition during the holiday period.
According to the NDRC, the measures “are aimed at further releasing the potential consumer spending and pushing for a stable beginning to the economy growth in quarter one.”
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