Amid a spike in Covid cases, China closes world's largest electronic market in Shenzhen
Residents undergo nucleic acid tests for COVID-19 in Shenzhen
Amid rising coronavirus cases, the Chinese authorities on Monday announced the closing of the world's largest electronics market of Huaqiangbei in Shenzhen. The closure follows President Xi Jinping's highly criticised 'zero-Covid tolerance' policy.
Reportedly, the market was closed after authorities observed nine symptomatic and two asymptomatic cases from testing conducted the previous day.
Accordingly, the market will remain closed till Thursday and workers are expected to work from home and get routinely tested.
Moreover, big tech companies such as Huawei, Semiconductor Manufacturing International Corp and Foxconn Technology Group have been advised by the authorities to restrict the movement of their employees.
Read more:Chinese are selling their Rolex watches & Hermes bags to raise quick cash as economy tumbles
)
The Early Spring is proof not everyone can talk about their real feelings, and it is perfectly OK
)
UN votes to ‘correct the map’ as India backs fairer world view
)
Nigerian Navy discovers 99,000 litres of suspected stolen, illegally refined products as it intensifies anti-crude oil theft operations
)
Who is Aditi Paudel? 17-year-old becomes Japan's first literacy ambassador
)
Bengaluru: Officials find 40 kg expired chilli at chairman's club
)
Jaishankar rejects trade link to ending Ukraine war
)
Israeli strikes on Lebanon kill three, injure 23 despite truce
)
Alpine glacier was covered with sheep wool sheets to prevent melting. It worked
)
South Korea mulls deploying military assets to Strait of Hormuz
)
World's fifth-largest economy, British army can't afford to train
)
Breaking | Vance takes the podium: First White House briefing since Leavitt's exit
)
Taiwan raises 'concerns' over China's missile test
)
BRICS 2026: $1 trillion sovereign capital set to converge in Delhi for first iBRICS Summit
)
What is Iran's Pickaxe Mountain that Trump has again threatened to bomb?
)
UN votes to correct world map that visually shrank Africa for 450 years
)
Former NewJeans member Danielle launches YouTube channel, hints at new solo journey
)
Bangladesh batter Towhid Hridoy creates history with 350 not out in South Africa
)
Brendan Fraser’s transformation fuels The Mummy 4 excitement as fans welcome back Rick O’Connell
&im=FitAndFill=(700,400))
Krishna Janmashtami 2026: From Dhaniya Panjiri to Makhana Kheer- 5 best sweet dishes perfect for celebrating Lord Krishna’s birth
)
Donald Trump plans to travel to Ireland on Qatari-donated jet amid security concerns
)
Nazi-looted art to return to Jewish heirs
)
Eight killed in Kerala’s Thrissur after car rams into lorry parked on highway
&im=FitAndFill=(700,400))
Why Russian fighter jets use bulky, low-pressure tyres compared to US jets
)
FBI-wanted fraud accused arrested in Jalandhar over $600,000 scam
&im=FitAndFill=(700,400))
Why US tanks weigh over 20 tons more than Russian tanks
&im=FitAndFill=(700,400))
New Friday OTT releases (September 4, 2026): GDN, Dhamaal 4, Jagamae Sangeetham- Watch 6 new movies and TV shows on Netflix, Prime Video and more
)
Killing the Himalayas slowly: Human urine is melting a glacier on Mount Everest
The effect of the closure of cities
The Covid cases have been spiralling out of control in China despite the majority of the populace being inoculated. Government estimates stated that the cases could touch the peak of 20,000 next month.
As reported extensively by WION, China's 'zero-Covid tolerance' strategy has been one of the primary reasons why it has lagged in economic recovery.
For months, the tough lockdown measures imposed by the Communist Party of China (CCP) led to a dip in manufacturing as factories and offices remain closed for prolonged periods.
The direct consequence of the closure has been on the economy which only grew by a tiny 0.4 per cent in the quarter gone by. Such has been the condition thatPolitburo has givenup on the 5.5 per cent economic growth rate forecast by the year-end.
Shenzhen and its history
It is pertinent to note that Shenzhen was one of the first four Special Economic Zones (SEZs) to be established in China. It is also the birthplace of global mobile giant Huawei. The Huaqiangbei district invites the attention of tourists and technology aficionados who flock to the numerous stalls in the area to procure electronic goods.
Read More:China's economic growth drops to 0.4 per cent amid draconian lockdown measures and severe heatwave
Historically, Shenzhen was a fishing market. However, after Chinese President Deng Xiaoping took the centre stage, the fortunes of the city changed. The establishment of Huawei in 1987 by rem Zhengfei was the turning point and since then, the city has grown immensely, referred to as the 'Shenzhen speed'.
(With inputs from agencies)
WATCH WION LIVE HERE: