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China’s economic activity collapses under Xi’s Covid zero policy

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What Bloomberg Economics Says “China’s April activity data laid bare the damage from Covid lockdowns in Shanghai and other parts of the country.

The impact was much wider and deeper than expected." “The data point to a deeper slowdown this year than expected." Chang Shu and Eric Zhu For the full report, click here Beijing has signaled that policy makers will step up support for the economy, with Premier Li Keqiang recently urging officials to ensure stability through fiscal and monetary policy.

The People’s Bank of China took steps on Sunday to ease a housing crunch by reducing mortgage rates for first-time homebuyers.

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