Skip to content
Tuesday 25 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,854.32
+0.35%
DAX
26,106.60
0.00%
CAC 40
8,453.01
0.00%
STOXX 50
6,447.98
0.00%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Monday 28 March 2022 8:26 am  |  Updated:  Monday 28 March 2022 8:28 am

Shanghai is shut: China’s biggest city and beating heart of Asian economy goes into fresh Covid lockdown

By: Michiel Willems

Add as a preferred source on Google
The recovery in the world's second-largest economy has lost steam due to a worsening property slump, weak consumer spending and tumbling credit growth

Authorities in China are currently locking down its largest city, Shanghai, as part of its strict Covid-19 strategy, amid questions over the policy’s economic toll on the country.

Shanghai’s Pudong financial district and nearby areas will be locked down until Friday as citywide mass testing gets underway, the local government said. In the second phase of the lockdown, the vast downtown area west of the Huangpu River that divides the city will start its own five-day lockdown on Friday.

Residents will be required to stay home and deliveries will be left at checkpoints to ensure there is no contact with the outside world. Offices and all businesses not considered essential will be closed and public transport suspended.

Already, many communities within the city of 26 million have been locked down, with their residents required to submit to multiple tests for Covid-19. And Shanghai’s Disney theme park is among the businesses that closed earlier.

China has reported more than 56,000 infections nationwide this month, with a surging outbreak in the north-eastern province of Jilin accounting for most of them. Shanghai has had relatively few of those cases, with just 47 recorded on Saturday.

But in response to China’s biggest outbreak in two years, Beijing has continued to enforce what it calls the “dynamic zero-Covid-19″ approach, calling that the most economical and effective prevention strategy against Covid-19.

That requires lockdowns and mass testing, with close contacts often being quarantined at home or in a central government facility. The strategy focuses on eradicating community transmission of the virus as quickly as possible, sometimes by locking down entire cities.

While officials, including Communist Party leader Xi Jinping, have encouraged more targeted measures, local officials tend to take a more extreme approach, concerned with being fired or otherwise punished over accusations of failing to prevent outbreaks.

While China’s vaccination rate stands at around 87%, it is considerably lower among older people.

National data released earlier this month showed that over 52 million people aged 60 and older have yet to be vaccinated with any Covid-19 vaccine. Booster rates are also low, with only 56.4% of people between 60-69 having received a booster shot, and 48.4% of people between 70-79 having received one.

Read more

‘Alice in Wonderland’ workspace firm lands £129m Aberdeen-backed finance

Modern reception area with unique legs art installation, white desk, and colorful stools.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business

Related Topics

  • Coronavirus

Trending Articles

  • Can debt-ridden Morrisons become a Big Four supermarket again?

  • As it happened: Stocks rally; US to unveil ‘economic D-Day’ Iran sanctions

  • HMRC mansion tax inspectors to target homes for property valuations

  • Poundland loss doubles as discount retailer nears sale

  • Ratcliffe’s Ineos saves Runcorn plant

More from Morning Wire

  • ‘Alice in Wonderland’ workspace firm lands £129m Aberdeen-backed finance

    Property
    Modern reception area with unique legs art installation, white desk, and colorful stools.
  • Champions Cup rugby team hacked in ransom attack with player data at risk

    Sport Business
    Rugby player in a pink uniform running with the ball, pursued by an opponent in a black jersey.
  • bet365 6 Scores Challenge 2026 – Win Cash Prizes or Free Bets

    betting
    bet365 6 Scores Challenge
  • Zennor the bet after Storms at York

    Sport
    Jockeys on racehorses gallop on a dirt track under stadium lights, with green grass and hedges in the background.
  • Rosslyn Coffee boss James Hennebry tells us the secret to great coffee

    Life&Style
    Smiling barista wearing a ROSSLYN apron serving a customer at a coffee shop counter.
  • Burnley axe main sponsor Finotive after just six weeks and promote Vertu to shirt

    Sport Business
    Smiling man in Burnley FC kit with Finotive One sponsor, arms outstretched, on a football pitch with stadium stands behind.
  • Rayevka can carry Nunthorpe back to France

    Sport
    Jockeys on horseback racing on a green turf track with a crowd of spectators in the background.
  • UK debt ‘hits £3 trillion’ milestone

    Economics
    Houses of Parliament in Westminster showcasing historic architecture under a clear sky, central to UK government and politics
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook