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Shanghai unveils business restart plan on supply chain woes

Bloomberg
Bloomberg4/17/2022 3:32 PM GMT+08  • 2 min read
Shanghai unveils business restart plan on supply chain woes
Shanghai is a production base for many companies, including Tesla Inc. and China’s state-owned SAIC Corp / Photo: Bloomberg
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Shanghai published plans to resume production in the city after weeks of Covid-19 lockdown snarled supply chains and dealt a blow to the Chinese economy.

Businesses should formulate plans for closed-loop management, where workers live on-site and are tested regularly. They should also apply for approval to restart production with Covid control authorities at the district and city levels, Shanghai’s Economic and Information Technology Commission said in a statement on its WeChat account. The agency did not provide a timetable of work resumption.

The lockdown in China’s financial hub, now in its third week, has squeezed everything from consumer spending to logistics and production. The key to addressing the economic woes is adjusting China’s Covid Zero policy, analysts said, as the Chinese central bank takes a cautious approach with monetary easing. But top officials have repeatedly warned about risks to growth and the need for more monetary and fiscal stimulus.

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