As of October 2, China continued to ease travel restrictions by maintaining visa policies in 23 different countries. Travellers from the countries covered under these policies will be allowed into China on the condition of having received two COVID-19 vaccine doses 14 days prior to planned arrival, along with presenting two negative tests (PCR and antibody tests) taken within 48 hours of travel. The list of countries includes the U.S. and the U.K., but not Canada (Source: CNN).
By October 2, about 2.21 billion cumulative COVID-19 vaccination doses were administered in China. This equates to 153.23 doses per 100 of the population (above 100 due to second vaccinations), higher than Canada’s 148.15 per 100 people, the European Union’s 127.21 per 100 people, the U.S.’s 117.35 per 100 people, and India’s 64.66 per 100 people (Source: ourworldindata.org).
China’s economic growth has slowed down due to weak investment levels, negatively affected consumption levels and some uncertainty around restructuring Evergrande’s liability, which is the largest real estate company in China that has been having liquidity issue. However, China’s GDP growth forecast is still at 8.4 per cent in 2021 and 5.8 per cent in 2022 (Source: Oxford Economics).
China's inflation rate decreased to 0.7 per cent in September, compared to 0.8 per cent in August, the lowest number in six months. Also, China’s food prices declined by 5.2 per cent, with pork prices declining at a faster rate (-46.9%) (Source: Trading Economics).
Unemployment in China remained consistent at 5.1 per cent in July and August, with a slight increase from 5 per cent in May and June (Source: Trading Economics).