<p>
<strong>China&rsquo;s decision to impose strict restrictions including a shutdown of several parts of the country, to contain the spread of Covid 19 has created confusion and concerns. Businesses have been taken aback by Beijing&rsquo;s zero-covid approach as they fear that economic activities could get severely hit. &ldquo;Many countries have started to treat Covid-19 as an endemic disease, while China continues to eliminate the virus, there will be more challenges in the future [for the economy,&rdquo; <a href="https://www.scmp.com/economy/china-economy/article/3156533/property-covid-19-challenges-remain-chinas-economic-slowdown">South China Morning Post</a> quoted Andrew Fennell, a senior director at Fitch Ratings as saying.</strong></p>
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The restrictions have come in place at a time when the Chinese economy is already showing signs of slowing down.</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/health-news/fresh-covid-wave-spreads-to-provinces-in-china-govt-goes-for-drastic-steps-128546.html">Fresh Covid-19 wave spreads to 21 provinces in China, govt goes for drastic steps</a></strong></p>
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Owing to stricter environmental norms, acute power shortage and an increase in raw material prices, China&rsquo;s factory output contracted further in October. Besides the crackdown on the private sector and now with real estate major Evergrande Group&rsquo;s debt crisis have led to slowing down of consumption, critical to support growth.</p>
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SCMP reported that Fennell opined that the recent outbreaks of the Delta variant have prompted travel restrictions and lockdowns in some cities in China, damping economic activities, while Beijing&rsquo;s tough stance to deleverage the property sector, which contributes 14 per cent to China&rsquo;s gross domestic product (GDP), will further slow growth in the coming months.&nbsp;</p>
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