Surging Covid infections make it harder for China to achieve zero-Covid without reverting to a harsh lockdown, Macquarie's Chief China Economist Larry Hu said.
In the last few days, the mainland China daily Covid case count has climbed to around or more 28,000 — near levels seen in April during a stringent lockdown in Shanghai, according to CNBC calculations of Wind Information data.
In GDP terms, nearly 20% of China's economy was negatively affected by Covid controls as of Monday, close to the high of 21.2% recorded in mid-April during Shanghai's lockdown, Nomura's Chief China Economist Ting Lu said, citing the firm's model. In the last few days, the daily case count has climbed to around or more 28,000 — near levels seen in April during a stringent lockdown in Shanghai, according to CNBC calculations of Wind Information data. The figures showed the last time mainland China saw only a handful of daily infections was in June, shortly after Shanghai eased its restrictions.
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