People joined long queues outside immigration offices in Beijing, eager to renew their passports after China dropped COVID border controls that had largely prevented its 1.4 billion residents from traveling for three years. | Reuters
China’s currency and stock markets strengthened on Monday, as investors bet the reopening could help reinvigorate a $17 trillion economy suffering its lowest growth in nearly half a century.
China’s top health officials and state media have repeatedly said COVID infections are peaking across the country and they are playing down the threat now posed by the disease. China’s blue-chip index gained 0.7%, while the Shanghai Composite Index rose 0.5% and Hong Kong’s Hang Seng Index climbed 1.6%.
State broadcaster CCTV reported on Sunday that direct flights from South Korea to China were close to sold out. The report quickly shot to the most-read item on Chinese social media site Weibo.
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