China’s economy won’t be snapping back quickly from the latest Covid outbreak, many economists predict. Instead, they expect a slow recovery ahead.
More parts of the capital city of Beijing ordered people to work from home as the local daily case count rose — reaching 83 on Sunday, the highest for the city's latest outbreak.which has factories in two of this year's hardest-hit regions, said Wednesday its China production sites were up and running, but Covid controls were disrupting supply chains.
"Many regions and cities have tightened restrictions at the first sign of local cases," Meng Lei, China equity strategist at UBS Securities, said in a note last week. She said the latest wave of cases and lockdowns really only started after the central government released itsIn China's heavily managed economy, this annual meeting is a critical part of a cycle for developing and implementing national policies — across departments and regions.
The information office for China's State Council, the country's top executive body, did not immediately respond to a CNBC request for comment.