More Than One Million May Die In China From Covid Through 2023 – Report

More than one million individuals could die from Covid illness in China though 2023 following the recent lifting of stringent pandemic-related restrictions, the U.S.-based Institute of Health Metrics and Evaluation (IHME) has projected, according to a Reuters report on Friday.

Cases in China would peak around April 1, when deaths would reach 322,000 and about a third the country’s population will have been infected, IHME Director Christopher Murray said, Reuters reported.

China has a population of 1.4 billion – the world’s largest.

The country’s last official deaths were reported on Dec. 3, Reuters said.

The government eased restrictions in its “zero-Covid” policy amid slowing growth in the world’s No. 2 economy and public protests. Covid-related supply chain disruptions at an iPhone plant operated by Taiwan’s Hon Hai Precision in Zhengzhou last month hurt Apple shares and made global headlines (see related post here).

Shares in China Medicine Health Industry rose by their daily 10% for a second day on Friday, closing at $20.23 at the Shanghai Stock Exchange. The company has been authorized to sell Pfizer’s antiviral Covid treatment drug Paxlovid, Bloomberg reported earlier this week.

Investors in China shares have largely embraced the relaxation measures on hopes they will lead to a return to normal consumer growth and more stable supply chains. (See related post here.) The benchmark Hang Seng Index in Hong Kong has gained 8% in the past month, though eased back 0.7% this week.

See related posts:

China GDP Poised To Outperform Global Growth In 2023 — PwC

Global Supply Chain Shocks Open New Room For U.S.-Taiwan Business Ties