Sabtu, 02 Juli 2022

China to loosen entry restrictions on US citizens, transit via third country now permitted - CNA

China will loosen entry restrictions on US citizens, allowing entrance in case of transit via a third country, notices issued late on Friday (Jul 1) by the Chinese embassy in Washington said, relaxing rules imposed in Beijing's drive to curb COVID-19.

China's "dynamic COVID zero" policy, which aims to minimise the risk of infected travellers arriving from abroad, has resulted in many barriers to international travel, from restrictions on the issue and renewal of passports for Chinese citizens to tough quarantine requirements upon arrival.

According to an updated policy statement, US citizens with valid negative COVID-19 test results looking to enter China may now apply for and receive a green health code for travel in from either the United States or a third country. In the past, the embassy would only grant the codes to US citizens flying directly from the United States.

China has loosened the same restrictions recently for citizens of other countries.

The restrictions, coupled with a limited number of direct flights from the United States to China, caused ticket prices to cost as much as S$10,000.

The changes follow a similar slight relaxation of COVID-19 testing rules for people arriving in China from countries including the United States announced on May 18. 

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2022-07-02 07:45:39Z
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‘The longer you stay, the more you fancy it’: drifters who call Hong Kong home - South China Morning Post

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‘The longer you stay, the more you fancy it’: drifters who call Hong Kong home  South China Morning Post
https://news.google.com/__i/rss/rd/articles/CBMidWh0dHBzOi8vd3d3LnNjbXAuY29tL25ld3MvaG9uZy1rb25nL2hvbmcta29uZy1lY29ub215L2FydGljbGUvMzE4MzYzNS8yNS15ZWFycy1hZnRlci1oYW5kb3Zlci1tYWlubGFuZC1maXJtcy1wcmVzZW5jZdIBdWh0dHBzOi8vYW1wLnNjbXAuY29tL25ld3MvaG9uZy1rb25nL2hvbmcta29uZy1lY29ub215L2FydGljbGUvMzE4MzYzNS8yNS15ZWFycy1hZnRlci1oYW5kb3Zlci1tYWlubGFuZC1maXJtcy1wcmVzZW5jZQ?oc=5

2022-07-02 01:00:17Z
CBMidWh0dHBzOi8vd3d3LnNjbXAuY29tL25ld3MvaG9uZy1rb25nL2hvbmcta29uZy1lY29ub215L2FydGljbGUvMzE4MzYzNS8yNS15ZWFycy1hZnRlci1oYW5kb3Zlci1tYWlubGFuZC1maXJtcy1wcmVzZW5jZdIBdWh0dHBzOi8vYW1wLnNjbXAuY29tL25ld3MvaG9uZy1rb25nL2hvbmcta29uZy1lY29ub215L2FydGljbGUvMzE4MzYzNS8yNS15ZWFycy1hZnRlci1oYW5kb3Zlci1tYWlubGFuZC1maXJtcy1wcmVzZW5jZQ

Kamis, 30 Juni 2022

Hong Kong's Top Stock-Trading Strategy Is Quietly Unwinding - Bloomberg

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  1. Hong Kong's Top Stock-Trading Strategy Is Quietly Unwinding  Bloomberg
  2. Chinese assets remain investors' safe haven amid US inflation spillover  Global Times
  3. China's World-Beating Stock Rally Is Forecast to Strengthen More  Bloomberg
  4. Hong Kong stocks slip on recession fears while EV makers tumble, Nio slumps  South China Morning Post
  5. View Full coverage on Google News

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2022-06-29 23:00:00Z
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Rabu, 29 Juni 2022

Commentary: Will exodus of Hong Kong talent strengthen Singapore's financial hub status? - CNA

MANAGING THE INFLUX OF EMIGRANTS

Until then, Singapore needs to accommodate the inflow of foreign talent while maintaining the social balance and keeping inflation down. The demand for living and working in Singapore can increase quickly but the supply of housing, education, and transportation takes much longer to catch up.

In the short term, there can be bottlenecks in travel from Hong Kong to Singapore, with major airlines offering fewer flights to and out of Hong Kong due to the city’s stringent quarantine rules. Nonetheless, the senior executives are wealthy enough to make the trip.

Their sudden arrival in Singapore, however, heats up high-end markets for private housing and education. 

Rentals for private homes in Singapore surged 4.2 per cent in the first quarter of 2022 compared to a rise of 2.6 per cent in the previous quarter, according to the Urban Redevelopment Authority. Spots in international schools are scarce too, with each available slot receiving up to 15 applications from interested families, according to a Financial Times report in March.

Before these shortages ease, the needs of new expats could crowd out that of locals, though this could be somewhat limited given the niche demands. 

But with inflation felt everywhere from food to energy prices, locals will be eyeing the attractive white-collar jobs these firms bring with them. It might be challenging for policymakers to curb the demand in the short term without killing it in the long run.

Singapore will raise the minimum qualifying salary for incoming finance professionals from S$5,000 to S$5,500 in September – though it is a bar senior bankers can easily clear. But with more than 9,400 new jobs in finance on offer this year, coupled with a tight labour market, such high-powered immigration to Singapore could be a good problem to have for now.

Hu Jianfeng is an Associate Professor of Finance and a Lee Kong Chian Fellow at Singapore Management University.

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2022-06-29 22:02:26Z
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China's easing COVID-19 curbs spark travel inquiry surge, and caution - CNA

BEIJING: Online searches for Chinese airline tickets on domestic and international routes surged on Wednesday (Jun 29), after Beijing said it would slash COVID-19 quarantine requirements and made changes to a state-mandated mobile app used for local travel.

The unexpected moves mark a significant easing of rigid curbs that have severely curtailed travel and battered China's economy, although tough measures remain in place including a scarcity of international flights, and many social media users voiced caution.

The industry ministry said on Wednesday that a Chinese mobile app that shows whether a person has travelled in a Chinese city with COVID-affected areas will no longer mark that history with an asterisk, one of the many means China has of tracking and curbing the virus's possible spread.

The asterisk helped local authorities to impose curbs such as quarantines and COVID-19 testing, and sparked widespread complaints.

"It looks like a small step, but is a rather big step," a user wrote on the Twitter-like Weibo, where the announcement quickly became the top topic with more than 200 million views.

It came a day after Beijing eased quarantine rules and as Shanghai resumed restaurant dining following a two-month lockdown that brought China's largest city to a halt and infuriated residents.

The two policies triggered a surge in travel inquiries.

The Qunar platform reporting that searches for air tickets rose 60 per cent and doubled for hotels in the 30 minutes after Wednesday's announcement.

Rival Ly.com reported a similar rise, and flagged a jump in interest for tickets to China from locations including Japan, Singapore and South Korea.

WAIT-AND-SEE APPROACH

China's zero-COVID policies have almost completely wiped out international business and leisure travel, while domestic travel has also been hit hard by China's response to outbreaks in April and May of the highly infectious Omicron variant, which brought drastic lockdowns in several cities.

This week's easing measures follow a recent dramatic decrease in locally transmitted infections.

"It's too soon to tell how much this will inspire people to travel as in all likelihood they will still need to deal with fairly stringent testing requirements wherever they travel domestically," said Ben Cavender, managing director at China Market Research Group.

While the rest of the world tries to live with the virus, China has vowed to stick to its tough curbs, with President Xi Jinping reiterating that the strategy was "correct and effective" and should be firmly adhered to.

Many would-be travellers said on social media and in chatrooms they were taking a wait-and-see approach before trying to book tickets, citing a shortage of flights and government limits on new passports for Chinese looking to go abroad for reasons deemed non-essential.

Depending on their destination, airlines flying into China must limit their load factors to between 45 per cent and 75 per cent. The country also has a "circuit breaker" system requiring carriers to suspend flights if they have a certain number of COVID-positive passengers.

On Tuesday, the number of international flights, including to Macau, Hong Kong and Taiwan, for this year stood at about 4 per cent of pre-COVID levels, according to consultancy Variflight.

Ticket prices are far above normal. One-way tickets from Singapore to China's business hub of Shanghai cost between 50,000 and 70,000 yuan (US$7,460 and US$10,590) on China Eastern Airlines for the period between July and September, for example.

"There are very few flights, air ticket prices are sky high. In fact it is not possible to arrange international group travel," said Zhou Weihong, deputy general manager of Shanghai-based travel agency Spring Tour.

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2022-06-29 11:59:49Z
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Selasa, 28 Juni 2022

China slashes COVID-19 quarantine time for international travellers - CNA

BEIJING: China on Tuesday (Jun 28) slashed the quarantine time for inbound travellers by half in a major easing of one of the world's strictest COVID-19 curbs, which have deterred travel in and out of the country since 2020.

Quarantine at centralised facilities has been cut to seven days from 14, and subsequent at-home health monitoring has been reduced to three days from seven, the National Health Commission said in a statement.

The latest guidelines from the health authority also eased quarantine requirements for close contacts of people who have tested positive for the new coronavirus.

China has cautiously eased its COVID curbs on cross-border travellers in recent months, with health officials saying the shorter incubation period of the Omicron variant allows for an adjustment of quarantine periods.

The Chinese capital Beijing in recent months has already reduced the quarantine period at centralised facilities to 10 days from 14.

China, last month, also removed some COVID-19 test requirements for people flying in from countries such as the United States.

"We believe that today's announcement will be welcomed by the American business community," the American Chamber of Commerce in Shanghai said on its official WeChat account.

The quarantine adjustment will make it easier for companies to bring staff to China, and for Chinese companies and their executives to visit the United States, AmCham said.

Stock markets rose in Hong Kong and China, with the Hang Seng Index reversing losses and ticking up roughly 0.4 per cent and the CSI300 Index gaining 0.7 per cent.

Shares in Chinese tourism companies jumped more than 5 per cent.

China's aviation regulator said this month it had been in touch with some countries to steadily increase the number of flights in the second half of 2022.

IN THE CLEAR

Beijing and Shanghai reported on Tuesday no new local COVID-19 infections, the first time both cities were in the clear simultaneously since late February, after months of fighting their worst-ever outbreaks.

The milestone for the two cities, achieved on Monday, came after their daily caseloads dropped to single digits over the past week, allowing Shanghai to gradually resume eating in at restaurants and Beijing to reopen some leisure venues including the Universal Beijing Resort.

Shanghai Communist Party chief Li Qiang declared on Saturday that authorities had "won the war to defend Shanghai" against COVID-19, after a crushing two-month citywide lockdown that was finally lifted in early June.

The Walt Disney Co's Shanghai Disney Resort said on Tuesday that it would reopen the Disneyland theme park on Jun 30; it had been shut for more than three months.

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2022-06-28 07:55:00Z
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China cuts COVID quarantine time for international travellers - Reuters.com

Travellers walk at the Beijing Capital International Airport in Beijing, China May 9, 2021. REUTERS/Tingshu Wang

BEIJING, June 28 (Reuters) - China will halve to seven days its COVID-19 quarantine period for visitors from overseas, with a further three days spent at home, health authorities said on Tuesday.

The change came in the National Health Commission's latest guideline on measures against the disease.

Following seven days spent in centralised facilities, travellers face three days of at-home medical observation, it added, versus seven previously.

Reporting by Roxanne Liu and Ryan Woo; Editing by Clarence Fernandez

Our Standards: The Thomson Reuters Trust Principles.

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2022-06-28 07:19:00Z
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