May 4, 2022

While the recent COVID-19 flare-ups have weighed on the Chinese economy that is already under pressure of shrinking demand, supply impact and weakening expectations, China's science-based approach of balancing virus control and economic development would help the economy take on a new look after the May Day holidays. 

More policies are in the pipeline to fire up economic activities by stimulating consumption and further resuming industrial production in epidemic-hit areas.

Due to the strict anti-pandemic measures taken across the country, especially in Shanghai that is under varying degrees of lockdowns, the country's consumption in many services sectors, from tourism to the movie industry, was severely constrained during the five-day holidays from April 30 to May 4, usually an important occasion for businesses to generate revenue.

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https://www.globaltimes.cn/page/202205/1264819.shtml