After 2 months of systemic lockdown, shanghai is expected to ease restrictions in June. Since the outbreak of the Omicron virus, various communities in Shanghai went under heavy and costly restrictions. The entrenched Zero covid policy has created repercussions and costs to both businesses and individuals. Various industries have experienced project cancellation leading to companies either shutting down or adopting temporal survival strategies. Despite the problems of implementing the policy, it has helped to curb the spread of the Omicron virus. ‘Zero Covid at the community level’ means moving all infected people into a central quarantine station outside the restricted communities. Therefore, ridding communities of any infection. With the grid lockdown system, the local authorities issued passes to some communities where residents can step out of their communities for a stipulated time within a marked zone. However, some residents are sceptical of the re-opening roadmap as such was stipulated before but never materialized.
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Shanghai is an important event and exhibition hub and a major global logistics portal. According to China Daily, Data from the National Bureau of Statistics showed the country’s value-added industrial output and retail sales fell by 2.9% and 11.1% year on year in April. The ripple effects of the Shanghai lookdown can be felt far across the ocean to Ghana and other parts of the world, where factories which rely on material supply from China are experiencing low production. With good Covid19 control and management coupled with robust economic policies, China’s economy is expected to rebound and stabilize in the coming months.
Thornehope is responsive to constant change and experienced in risk management. In the sight of uncertainty and Risk, THP has successfully planned and executed projects to earn high praise for clients and partners. Thornehope stands ready to support interested partners and clients in the wake of the hopeful Shanghai reopening.
Team Leader: Simon Lu
Team: Arthur Zhang, Benjamin Chan, Gideon Kinnah, Yue Dong, Lyon, Simon Lu
Script: Gideon Kinnah