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Markets applaud China’s shift in policy as it prepares to ease COVID curbs further.

According to sources, China is prepared to announce a further easing of some of the toughest COVID curbs in the world as early as Wednesday, with investors rejoicing at the prospect of a policy change in response to widespread protests and mounting economic harm.


China’s zero-tolerance policies, which include closed borders and frequent lockdowns three years into the pandemic, stand in stark contrast to those of the rest of the world, which has largely chosen to accept the virus.


The strict approach has damaged the second-largest economy in the world, stressed out hundreds of millions of people, and culminated in the biggest display of public unhappiness in mainland China last month since President Xi Jinping assumed office in 2012.


Despite a significant police presence in all major cities, last month’s protests largely dissipated; however, regional authorities have since reduced lockdowns, quarantine regulations, and testing requirements to varying degrees. Top officials have also toned down their warnings about the virus’s dangers.


Shanghai, known as the world’s financial center, declared on Monday night that starting on Tuesday, most public places would no longer require COVID testing.


A new set of national regulations that will allow for more coordinated easing is also expected to be announced soon, according to two sources with knowledge of the situation who spoke to channels.


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