Shanghai will lock down a district in the south-west area on Saturday morning to conduct a mass Covid-19 test, raising fears that the city could go back to another lockdown and hurt its economy.
A temporary and partial lockdown on Saturday to conduct a mass Covid-19 testing drive will be China’s first major restriction after a two-month lockdown in April and May 2022 due to the resurgence of Covid-19 outbreak in the city. The authority finally lifted the restriction on June 1, allowing economic activities to return to normal.
The move by Shanghai authorities on upcoming Saturday raises fears among 2.65 million people in the Minhang district that the residence could be locked down for another two weeks if any Covid-19 infections are discovered in the area, following Beijing’s zero-Covid policy.
Shanghai first entered a full lockdown in early April. The Shanghai SE Composite fell from 3,252 points on 31 March 2022 to its low at 2,886 points on 26 April, around -11.25%. The index slowly climbed back afterward, finishing May at 3,182 points, increasing by 10.25%.
