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Beijing, Shanghai residents back to work as China eases into living with COVID

By Bernard Orr and Casey Hall BEIJING/SHANGHAI (Reuters) - Mask-wearing Beijing and Shanghai commuters crowded subway trains on Monday, with China's two biggest cities moving...
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By Bernard Orr and Casey Hall

BEIJING/SHANGHAI (Reuters) - Mask-wearing Beijing and Shanghai commuters crowded subway trains on Monday, with China's two biggest cities moving closer to living with COVID-19, as millions have been infected with the virus across the country.

After years of ruthless anti-coronavirus curbs, President Xi Jinping scrapped the country's zero-COVID policy in the face of protests and a widening outbreak.

But after the initial shock of the policy U-turn, and a few weeks in which people in Beijing and Shanghai stayed indoors, either dealing with the disease or trying to avoid it, there are signs that life is on course to returning closer to normal.

Subway trains in Beijing and Shanghai were packed, while some major traffic arteries in the two cities jammed with slow-moving cars on Monday as residents commuted to work.

An annual Christmas market held at the Bund, a commercial area in Shanghai, was also crowded over the weekend. Crowds thronged the winter festive season at Shanghai Disneyland and Beijing's Universal Studios on Sunday, queuing up for rides in Christmas-themed outfits.

The number of trips to scenic spots in the southern city of Guangzhou this weekend increased by 132% from last weekend, local newspaper The 21st Century Business Herald reported.

China is the last major country to move toward treating COVID as endemic. Its containment measures had slowed the $17-trillion economy to its lowest growth rate in nearly half a century, disrupting global supply chains and trade.

The economy is expected to suffer further in the short-term, as the COVID wave spreads toward manufacturing areas and workforces fall ill, before bouncing back next year, analysts say.

Tesla (NASDAQ:TSLA) suspended production at its Shanghai plant on Saturday, bringing ahead a plan to pause most work at the plant in the last week of December. The company did not give a reason.

RISING WAVE

Despite a record surge of cases nationwide, China reported no COVID deaths on the mainland for the six days through Sunday, the Chinese Center for Disease Control and Prevention said on Sunday, even as crematories faced surging demand.

China has narrowed its definition for classifying deaths as COVID-related, counting only those involving COVID-caused pneumonia or respiratory failure, raising eyebrows among world health experts.

The country's health care system has been under enormous strain, with staff being asked to work while sick and retired medical workers in rural communities being rehired to help, according to state media.

The provincial government of Zhejiang, a big industrial province near Shanghai with a population of 65.4 million, said on Sunday it was battling about a million new daily COVID-19 infections, a number expected to double in the days ahead.

Health authorities in the southeastern Jiangxi province have said infections would hit an apex in early January, adding that there could be other peaks as people travel next month for Lunar New Year celebrations, state media reported.

They warned that the wave of infections would last three months and that about 80% of the province's 45 million residents could get infected.

The city of Qingdao, in the eastern Shandong province, has estimated that up to 530,000 residents were being infected each day.

Cities across China have been racing to add intensive-care units and fever clinics, facilities designed to prevent the wider spread of contagious disease in hospitals.

The Beijing municipal government has said the number of fever clinics in the city had increased from 94 to almost 1,300, state media said. Shanghai has 2,600 such clinics and has transferred doctors from less-strained medical departments to help out.

Worries remain about the ability of less-affluent cities in China to cope with a surge in severe infections, especially as hundreds of millions of rural migrant workers are expected to return to their families for Lunar New Year.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

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Buy (0)

Sell (12)

Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

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Moving Avg:

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

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Silver Futures

26.677

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Copper Futures

4.5305

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81.14

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85.62

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4,920.55

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S&P 500

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FTSE 100

8,144.13

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17,763.03

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1,973.05

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226.40

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
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SJC 1c, 2c, 5c7,380/ 7,550
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Cập nhật 01-05-2024 10:45:19
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$2,285.72 -47.5 -2.04%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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WTI $80.83 +3.39 0.04%
Brent $85.50 +3.86 0.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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