
Software Giant SAP has declared to slash 3,000 jobs and analyse the Qualtrics stake deals
January 27, 2023: On Thursday, German business software firm SAP said it would cut up to 3,000 jobs, or nearly 2.5% of its workforce, becoming …
November 29, 2022: analysts said that China would not likely make significant changes to its Covid policy shortly despite this weekend’s protests. They stated that the reason for public unrest was the local performance of the current central administration policy.
“Without clear guidance from the higher authorities, local officials are inclined to play safe and stick to the existing zero-Covid stance,” Larry Hu said, chief China economist at Macquarie. “It is upsetting many people, who expect[ed] more loosening after the ’20 measures'” announced earlier this month.
Many people take the streets for granted more than the weekend to vent their frustration, which built up over almost three years of stringent Covid controls. Local infections have increased, prompting more lockdowns in the previous week.
Although the protests are rare, it was not immediately apparent to what scale the demonstrations were held.
Earlier this month, the central government signalled a step toward reopening by announcing “20 measures” is trimming quarantine times and generally making Covid controls targeted.
However, Hu said it is still being determined whether the measures aim to reduce recent infections that likely needed a hard lockdown or lower the increased speed, with lesser disruption to the economy and hospitals.
“The week ahead could be crucial; news on social unrest over the weekend has increased the need for more policy clarification and guidance from the higher authorities,” he stated.
In Beijing, more than the weekend needed to be verified. Social media videos showed residents focusing on the 20 measures and agree their community management there was an illegal basis for locking down their apartment compound.
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