Chinese stocks including Alibaba (BABA), JD.com (JD), and Baidu (BIDU) were on an upswing in pre-market trading on Thursday following a Bloomberg report that China could be mulling cutting down on quarantine for overseas travelers from early next year.
According to the report, currently, overseas travelers are required to quarantine at a hotel or other facility for a minimum of five days after arrival in China.
The Chinese Government is thinking of cutting down this quarantine requirement and subjecting overseas travelers to three days of monitoring instead. According to the report, it was not clear “what form that monitoring may take, or if it would require quarantining at home.”
China has been easing up on its Covid Zero policy in the past several days including the lifting of strict lockdowns across several cities. These strict lockdowns were opposed by the Chinese and resulted in violent protests across the country.
The country’s Covid Zero policy has severely disrupted its economy and has had a ripple effect on the global economy as well.
The COVID worries in China have also weighed down the iShares MSCI China ETF (MCHI) which has dropped by more than 24% this year.
