Goldman Sachs Suggests China Should Keep Zero-Covid Policy

Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. This follows the commentary over the weekend, once again, that the government will maintain the policy even as global stock markets buy China-related stocks in hopes of a reopening soon. China reported its highest number of Covid-19 infections in six months on Sunday. The National Health Commission said China had 4,420 new locally transmitted Covid-19 infections on Saturday. This is when health officials confirmed their commitment to the “dynamic-clearing” approach to Covid cases as soon as they emerge. What we don’t understand is that instead of the commentary that the flare-ups of cases show the need for the Zero-Covid policy, why isn’t there a significant amount of commentary about how the continued cases show Zero-Covid does not work?

Some 39 buildings of the No.2 Island of the Ocean Flower Island, an artificial archipelago in Danzhou, South China’s Hainan Province developed by China’s debt-ridden Evergrande Group will be repurposed. The 39 buildings will no longer be residential properties, with all the buildings built and unsold being adjusted from residential to a mix of hotel, business and finance, retail commercial and catering. The tourism development unit under Evergrande had been ordered to remove the mega-resort project in Danzhou immediately, back in January as the company was accused of unlawful means of obtaining the required project certificate. Evergrande Fairyland Group had objected saying Ocean Flower Island is a major project in Hainan that attracted US$11.2 billion worth of investment after more than six years of construction. In September