China has reported more local symptomatic COVID-19 cases so far this year than it recorded in all of 2021, as the highly transmissible Omicron variant triggers outbreaks from Shanghai to Shenzhen.
Mainland China reported 1,337 new domestically transmitted COVID cases with confirmed symptoms on March 13, the National Health Commission said on Monday. That brought the total this year to more than 9,000, compared with 8,378 in 2021, according to Reuters calculations.
"China's economy could be severely hit again," said Nomura in a note, adding that the COVID situation in China had deteriorated at an "alarming" pace over the past week."The outbreak has now reached almost every part of China with significant economic importance." Officials in Shenzhen, China's Silicon Valley, have temporarily suspended public transport and urged people to work at home as they carry out city-wide testing this week following a surge in new cases.
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