A woman celebrates at Hong Kong's Lok Ma Chau checkpoint on the first day Beijing reopened the crossing with mainland China. Reuters
A woman celebrates at Hong Kong's Lok Ma Chau checkpoint on the first day Beijing reopened the crossing with mainland China. Reuters
A woman celebrates at Hong Kong's Lok Ma Chau checkpoint on the first day Beijing reopened the crossing with mainland China. Reuters
A woman celebrates at Hong Kong's Lok Ma Chau checkpoint on the first day Beijing reopened the crossing with mainland China. Reuters

China reopens its borders and ends three years of strict Covid-19 controls


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China’s near total reversal of border controls to stem the spread of Covid-19 came into effect on Sunday.

It ends almost three years of strict entry requirements that have slowed economic growth in a country that accounts for nearly 20 per cent of global gross domestic product.

Many Chinese entering the country have been apart from their loved ones for years. They are coming more than a month after Beijing decided to end its zero-Covid policy, during which entire districts of major cities were regularly locked down for weeks and sometimes months on end.

Long queues formed at Hong Kong's international airport for flights to mainland cities, including Beijing, Tianjin and Xiamen. Some Hong Kong media outlets estimated that thousands of people were travelling.

Investors, economists and ordinary Chinese citizens have praised the end of the zero-Covid policy, which was blamed for a surge in youth unemployment.

But the end of travel and lockdown restrictions has also been accompanied by concerns over sub-variants of the globally dominant Omicron strain, such as BA.5.2 and BF.7, which experts say have driven a surge in cases in China.

Some experts worry that a wave of cases in China owing to the sudden end of Covid control policies could lead to dangerous new variants. The health authorities in Beijing are on alert to detect new strains of the disease.

Other countries have also reported new variants in recent weeks, with XBB.1.5, a variant dubbed “the kraken,” gaining traction in the US.

“I'm so happy, so happy, so excited. I haven't seen my parents for many years," said Hong Kong resident Teresa Chow as she and dozens of other travellers prepared to cross over to mainland China from Hong Kong's Lok Ma Chau checkpoint early on Sunday.

"My parents are not in good health, and I couldn't go back to see them even when they had colon cancer, so I'm really happy to go back and see them now," she said, adding that she plans to travel to her hometown in eastern China's Ningbo city.

Investors hope the reopening will eventually reinvigorate a $17-trillion economy suffering its lowest growth in nearly half a century. But the abrupt policy reversal has triggered a wave of infections that is overwhelming some hospitals and causing business disruptions.

The border opening follows Saturday's start of chun yun, the first 40-day period of Lunar New Year travel. Before the pandemic this was the world's largest annual migration of people, as millions returned to their hometowns or went on holiday with family.

About two billion trips are expected to be made this season, nearly double last year's movement and recovering to 70 per cent of 2019 levels, the government says.

Many Chinese are also expected to start travelling abroad, a long-awaited shift for tourist spots in countries such as Thailand and Indonesia. However, several governments — worried about a surge in Covid — are imposing curbs on travellers from the country.

Travel will not quickly return to pre-pandemic levels due to such factors as a lack of international flights, analysts say.

China on Sunday also resumed issuing passports and travel visas for mainland residents, and ordinary visas and residence permits for foreigners. Beijing has quotas on the number of people who can travel between Hong Kong and China each day.

CREW
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UAE currency: the story behind the money in your pockets
Book%20Details
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Recipe: Spirulina Coconut Brothie

Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)

Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy. 

UAE currency: the story behind the money in your pockets
MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

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Sugary teas and iced coffees

The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.

For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.

Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.

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Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The specs: 2018 GMC Terrain

Price, base / as tested: Dh94,600 / Dh159,700

Engine: 2.0-litre turbocharged four-cylinder

Power: 252hp @ 5,500rpm

Torque: 353Nm @ 2,500rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.4L  / 100km

Company profile

Date started: Founded in May 2017 and operational since April 2018

Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.

Based: Cairo, Egypt

Sector: Health-tech

Size: 22 employees

Funding: Seed funding 

Investors: Flat6labs, 500 Falcons, three angel investors

Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
  • Artists and researchers fall under a programme called Pause that began in 2017
  • It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
  • Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
  • Unlike students, they are allowed to bring their families to France
Updated: January 08, 2023, 11:24 AM