World shares advanced Tuesday after China announced it would relax more of its pandemic restrictions despite widespread outbreaks of COVID-19 that are straining its medical systems and disrupting business.
China’s National Health Commission said Monday that passengers arriving from abroad will no longer have to observe a quarantine, starting Jan. 8. They will still need a negative virus test within 48 hours of their departure and to wear masks on their flights.
But it was the latest step toward dropping once-strict virus-control measures that have severely limited travel to and from the world’s No. 2 economy.
With economic activity floundering, and multinationals questioning the viability of China as a sourcing location, policymakers have as so many times in the past adopted a very business-like approach,” Stephen Innes of SPI Asset Management said in a commentary.
Companies welcomed the move as an important step toward reviving slumping business activity.
Germany’s DAX gained 0
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