FOX Business Flash top headlines for November 1
Check out what’s clicking on FoxBusiness.com
Several Shanghai residents received fresh stay-at-home orders and mandatory testing notices on Tuesday as authorities raced to trace contacts linked to a COVID-positive woman whose visit to the city's Disney Resort prompted its temporary lockdown.
In the central Chinese city of Zhengzhou, meanwhile, Apple iPhone manufacturer Foxconn announced a big increase in bonuses to stem an exodus of workers rattled by coronavirus curbs at its vast facility there, as China's strict zero-COVID policy exacts a rising toll on the world's No.2 economy.
Unease mounted in China's commercial hub of Shanghai while nationwide the daily local case count hit 2,719, a small figure by global standards but China's highest since Aug 17, prompting other cities such as Guangzhou and Dandong to tighten measures, although Zhengzhou unexpectedly eased its quasi-lockdown.
CHINESE AUTHORITIES APOLOGIZE FOR COVID-19 BREAK-INS
The Shanghai Disney Resort on Monday abruptly shut its gates, locking in all visitors at the time and only allowing them to leave, hours later, after they had tested negative for the virus.
Several city residents told Reuters they were notified on Tuesday that they or their children could not go to work or school if they had visited Disney since Thursday and were ordered to take daily tests for the next three days.
One said she was informed that her family might have to go into central quarantine.
Marvis He was among Disney visitors caught up in the resort's lockdown, having flown in from Shenzhen in hopes of enjoying the park's Halloween-themed fireworks.
"I feel disappointed, we waited so long in the park … but we didn't get to see anything and only got to get out at 10 p.m.," she told Reuters as she departed the resort.
"We were also cold and hungry," her companion added.
City authorities said the resort was shut after a 31-year-old woman, who had visited the park among other places in recent days, tested positive for the virus.
Going It Alone
While much of the world has been opening up, China has vowed to stick to its zero-tolerance approach to COVID-19 with lockdowns and mass testing imposed when even a single case is found, and has shown little sign of laying groundwork to begin easing the policy.
On Tuesday, an unverified note circulating on social media that China was planning a reopening from strict curbs in March triggered a sharp surge in beaten down stocks in Hong Kong and mainland China.
China's foreign ministry said it was unaware of the situation.
"I truly don't know anything about this," spokesman Zhao Lijian said in response to questions at a regular briefing.
Gavekal Dragonomics analyst Ernan Cui wrote in a Tuesday note that China faces the most serious challenge to its containment policy in months, after more than 80% of major cities reported cases last month.