Shanghai authorities on Sunday pledged to allow all businesses to open up from Wednesday. The city’s deputy mayor, Wu Qing, announced the easing of restrictions at a press conference, alongside a raft of 50 new measures being taken to revive the city’s battered economy.
From June 1, businesses will no longer need so-called “white list” approval to have employees working on site. However, those wishing to get to work will still be required to present a negative Covid test 72 hours before taking public transportation.
Shanghai has been under some form of lockdown since late March, leaving tens of millions of people confined at home and leading to high levels of public distress. The restrictions upended business in virtually every sector and brought the city to a standstill.Major automakers, including Tesla (TSLA) and Volkswagen (VLKAF), were forced to suspend production temporarily, while electronics makers like Apple (AAPL) also…
