China’s tighter restrictions to fight its latest COVID-19 outbreak are hitting service sectors, especially travel and hospitality, in the world’s second-largest economy. The current outbreak, which started from Nanjing in eastern China’s Jiangsu Province, is now in its fourth week and involves more than a dozen provinces. The Beijing regime has refrained from full lockdowns of major cities such as those seen during the early days of the COVID-19 outbreak in Hubei Province back in January 2020, to avoid totally paralyzing the economy. “The current wave has led to the re-imposition of much tighter social distancing measures, which would significantly hurt the transport, tourism, and other service sectors,” Citi analysts wrote in a note on Aug. 11. “We now expect full recovery of the service sector to be further delayed to the fourth quarter.” Ding, who operates a 15-room lodge in the western highlands of Sichuan Province, said she had …
China’s Tighter COVID Restrictions Hitting Services Sector, Travel, Hospitality
August 11, 2021
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