Technical Analysis

China estimates nearly 18% of population contracted Covid in first 20 days of December

The country’s National Health Commission adds that nearly 37 million persons in China may have been infected by Covid in a single day this week itself. Well, it’s not too surprising after seen Beijing abandon its now defunct zero-Covid policy. But the numbers are interesting as it is unclear how did authorities derive them after having put a stop to their mass testing and also introducing home quarantine measures.

An interesting point in the minutes of its most recent meeting released by the health authority, is that there was no mention or discussion on how many people may have died from the latest outbreak.

For added context, the estimated 37 million daily infections for 20 December far surpasses the reported figure for the official Covid tally of 3,049 cases across the country. It’s a good thing people (and markets) don’t care about these numbers anymore.

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