The rumors are based on unconfirmed social media posts, so I wouldn’t even trust them. Plus, the health authorities reiterated China’s adherence to zero-Covid as mentioned in this article:
Finally, if I remember correctly, an official several months ago explained how China needs more time to develop successful drugs and more robust vaccines prior to opening up (the Western drugs are overhyped and ineffective, so I do not count them as successful). So, unless you plan to stay for a while in China, I wouldn’t count on them opening up.
"We expect Beijing to maintain its zero-COVID strategy at least until March 2023," according to Nomura.
I talked to my friend who was going back to China who said the economic pressure would be too much to maintain zero COVID for too long. I wonder how the rumours of a March re-opening originated. I would love to trace the origins of the leaker. I wonder if they are looking at a dynamic COVID policy a few months from now.
Here in Singapore, a lot of rich mainland Chinese are trying to move in here. But really it's not the flight of rich Chinese, but the pressure on SMEs which should be the main concern. A rising Chinese middle class is predicated on a strong SME sector, which just isn't growing right now.
While the Politburo may not directly address the issue, language around Zero Covid and the relationship with economic growth will be closely scrutinized.
officials have been downplaying this year’s goal of around 5.5% since it became unattainable. It’s clear this year’s target will be missed by a wide margin - the the first time that’s happened since the government began setting them in the early 1990s.
Just like how 5.5% is an official goal, COVID zero is an official goal. But more important is how often officials make pronouncements about the official policy. We'll have to watch the frequency of the pronouncements. If they stop harping about COVID zero even though its an enshrined policy, then that's a telling sign.
The last economy-themed Politburo meeting in July stressed the need to look at virus prevention and economic growth “from a political point of view”. Although the politburo didn’t elaborate on what that meant, the phrase implies that in addition to being a public health issue, Covid control should be considered from the political angle as well, including how its handling might affect social stability or reflect on the Communist Party and China’s system of governance.
As my China friend told me, if China decides to go dynamic COVID control, then it will do so by issuing a lot of statements about 'the need to jumpstart the economy' or to 'safeguard mental health'. Which will be a cryptic signal it's going to open up.
I think right now a lot of ordinary folks are starting to be a bit resentful of three full years of psychological and economic stress, and ordinary folks' sentiment is what the Chinese government watches out for the most.
I would love to see what happens by the middle of 2023.