China's capital, Beijing has recently warned about a severe COVID-19 pandemic, closing schools and businesses in affected areas and tightening entry rules as cases increased both nationally and locally.

China is struggling with increasing COVID-19 cases, from Zhengzhou in the center of the Henan region to Chongqing in the southwest. Earlier this week, it recorded 26,824 new local Covid cases, approximating the nation's daily cases peak in April. Furthermore, it noted 2 deaths in Beijing.

Guangzhou, a southern city with 19 million residents is fighting the biggest of China's flare-ups and has forced a 5-day lockdown on Baiyun, its most populous region. Additionally, it closed theatres and nightclubs in the main business district of the city and restricted dine-in services.

Moreover, the recent wave is testing China's will to follow the modifications it has made to its zero-COVID-19 plan. This policy calls for localities to be more focused to prevent measures and avoid extended lockdowns and inspections that have hampered the economy and annoyed locals.

It has been reported that oil prices and Asian stock markets fell as a result of investors’ apprehension over the potential economic effects of the escalating COVID situation in China. In addition to this, bonds and the dollar benefited from risk aversion.

As per sources, Beijing confirmed 316 more cases this week after recording 962 new illnesses last week, an increase from 621 cases.

According to city officials, people visiting Beijing from other regions of China will have to undergo 3 days of COVID testing before being permitted to leave their apartments or homes.

Earlier last week, regular public COVID-19 testing was halted in several Chinese cities, including the northern region of Shijiazhuang, which raised heated rumors that it would function as a trial site for policy easing.

However, many observers believe that the situation won’t change until March or April, despite government claims that President Xi Jinping's zero-COVID policy saves lives and is essential to keep the healthcare system from being overburdened.

Source credit: https://www.reuters.com/world/china/several-beijing-districts-shut-schools-china-covid-cases-rise-2022-11-21/