Businesses in China’s travel sector are seeing a recovery in bookings and flights, but with the pandemic still raging in the country, a full recovery in consumption is far from assured.
China’s decision to relax virus restrictions is likely to ease pressure on low-income households, but millions are at risk of slipping back into poverty as the economy struggles to recover after nearly three years of zero-Covid.
China’s former finance minister Lou Jiwei says Beijing must fine-tune its response to the latest Omicron outbreak to restore investor confidence and arrest flagging economic growth.
China has reiterated it is taking steps to address multinationals’ concerns, but experts warn they must move quickly if they want to rebuild confidence undermined by zero-Covid controls.