Shanghai to gradually reopen businesses as COVID cases drop (NASDAQ:TSLA)

Medical staff in hazmat suit walking on street in Shanghai

Robert Way/iStock Editorial via Getty Images

Ending weeks of strict lockdown, COVID-hit Shanghai announced a gradual reopening of business such as shopping malls and hair salons from Monday after a drop in case numbers in the Chinese financial and manufacturing hub.

Outlining the deails, on Sunday, Vice Mayor Chen Tong said that shopping malls, department stores, and supermarkets will return to in-store operations with customers permitted to shop in “an orderly way.” Meanwhile, hair salons and vegetable markets will be allowed to function with a limited capacity.

Shanghai reported 1,369 daily symptomatic and asymptomatic infections on Sunday, down from 1,681 on the previous day, Reuters reported.

Compared to one positive case a day earlier, there were no new cases outside the quarantined areas. Under China’s zero-Covid strategy, three consecutive days of no new cases outside the quarantined areas is a key factor that officials consider in determining when to ease restrictions.

Meanwhile, in the capital Beijing, a recent spike in cases has sparked fears of a lockdown.

Shanghai COVID restrictions had global consequences impacting supply chains and manufacturing operations.

The production output at Tesla’s (NASDAQ:TSLA) Shanghai plant dropped to just 1,512 in April, down from over 65,000 a month ago, data from the China Passenger Car Association indicate.

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