Despite consumption hit, China to stand fast on tough COVID-19 | TomBen’s Web Excursions

Despite consumption hit, China to stand fast on tough COVID-19 curbs

China’s strict COVID-19 policy is weighing on consumption and rattling foreign firms, but its effectiveness and the imperative to maintain stability heading into a sensitive year mean Beijing will stick to its approach, experts say.

“Stability is the number one priority next year,” said Dan Wang, chief economist at Hang Seng Bank (China). “Relaxing the zero tolerance policy will not help that goal.”