China locks down more than 232 million as ‘zero infection’ policy continues – deadline

China’s economy is already struggling due to the country’s Zero-Covid policy, which continues to enforce total shutdowns due to small outbreaks of Covid-19.

Today, the authorities went into quarantine MGM Cotai Art Macau, one of the main hotels in this gambling center. Unlike Las Vegas, which has thrived since the pandemic, Macau is struggling to regain its footing, throwing several of its American companies into a financial hole as travel restrictions limit the number of customers.

“In accordance with the Macau Special Administrative Region Government’s Pandemic Prevention and Control, our restaurants, spa, gym, swimming pool and retail stores at MGM Cotai are closed and shuttle buses for MGM Cotai are suspended until further notice. We apologize for any inconvenience,” the casino said in a statement.

Today’s move came in connection with the new lockdowns Wuhan, where the Covid virus is believed to have originated. Schools and restaurants in Guangzhou were also suspended, and some areas in Beijing and Shanghai were closed.

China’s recent party congress saw President Xi Jinping defend a “Zero-Covid” policy, dashing the hopes of investors who had been looking for an easing of restrictions to help the lagging economy.

Instead China on Thursday reported the highest number of new Covid-19 cases in two weeks.

Bank of Japan Nomura the number of Chinese under restrictions is about 232 million, down from 225 million last week. As of Oct. 27, some 31 cities are under some form of lockdown, restricting one in six people in China and covering 24.5% of its gross domestic product, according to a Nomura analysis.

Artisan Gateway estimated China’s 2022 box office at $3.90 billion, down 34%.

In contrast, China’s “big three” Internet companies—Baidu, Alibaba, and Tencent—have increased the market share of streaming platforms iQiyi, Youku, and Tencent Video by more than 20%.