It is unlikely for Washington to end its other “special treatments” for Hong Kong because it hurts the Americans even more.
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The latest move is consistent with Beijing’s hardline stance in response to the political turmoil on the island since 2019.
China’s A-share listed firms suffered significantly at the beginning of 2020 because of the COVID-19 pandemic.
The QR code system is likely to stay in place after COVID-19 as a new socio-economic norm.
Local governments are ramping up subsidies on cars and housing while Beijing is not delivering a big-bang stimulus.
Four provinces have appointed senior provincial Party and government leaders as “heads of industrial chains” to ensure supply chain stability.