'Lockdown Lifted on Next Month 1st' Shanghai Allows Partial Resumption of Some Financial Institutions' Operations

Medical staff wearing protective suits are operating a mobile COVID-19 testing station on the streets of Shanghai, China's "economic capital," on the 16th.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] With the lockdown measures in Shanghai expected to be lifted next month, it has been reported that Shanghai financial institutions have been allowed to resume operations.

On the 18th, major foreign media reported that Shanghai authorities decided to allow 864 financial institutions to resume operations after two months of work suspension. However, the Shanghai city government did not respond immediately to related inquiries.

Separately, there are also reports of increased purchases of liquefied natural gas (LNG) in China. This is due to the gradual lifting of lockdowns in major cities across China and the anticipated rise in cooling demand during the summer season.

Although lockdown measures remain in place in cities such as Beijing besides Shanghai, there are expectations that once the lockdowns are lifted due to improvements in quarantine conditions, daily life will return to normal and fuel consumption will become more active.

As Chinese authorities have maintained strict lockdown policies for over two months to control COVID-19, China's LNG imports from January to April this year decreased by 20% compared to the same period last year.

This content was produced with the assistance of AI translation services.