Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Shanghai to lock down millions again for mass COVID testing
    Top Stories

    Shanghai to lock down millions again for mass COVID testing

    Published by Wanda Rich

    Posted on June 10, 2022

    3 min read

    Last updated: February 6, 2026

    In this image, workers in protective suits establish barriers outside a building in Shanghai, reflecting the city's renewed lockdown measures for mass COVID-19 testing. This urgent response follows recent infections amid ongoing health concerns.
    Workers in protective gear set up barriers in Shanghai amid COVID-19 mass testing - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:financial marketseconomic growthbusiness investment

    By Brenda Goh and Martin Quin Pollard

    SHANGHAI/BEIJING (Reuters) – China’s commercial hub of Shanghai will lock down millions of people for mass COVID-19 testing this weekend – just 10 days after lifting its gruelling two-month lockdown – unsettling residents and raising concerns about the business impact.

    Racing to stop a wider outbreak after discovering a handful of community cases, including a cluster traced to a popular beauty salon, authorities have ordered PCR testing for all residents in 14 of Shanghai’s 16 districts over the weekend.

    Five of the districts said residents would not be allowed to leave their homes while the testing was carried out. A notice issued by Changning district described the stay-home requirement as “closed management” of the community being sampled.

    The latest scare triggered a rush to grocery stores and online platforms to stock up on food, as users of China’s Twitter-like Weibo expressed fear they could be locked down for longer, having only started going back to work after the last lockdown was lifted on June 1.

    Some areas had remained sealed off or quickly returned to lockdown due to infections and their close contacts.

    “The residential compound next to mine has already been locked down,” said Zhang Jian, a 34 year old real estate agent.

    “If there is a mass testing and there is another positive case in the compound, it will have a serious impact on our lives.”

    TESTING, TESTING

    While China’s infection rate is low by global standards, President Xi Jinping has doubled down on a zero-COVID policy that authorities say is needed to protect the elderly and the medical system, even as other countries try to live with the virus.

    Mainland China reported 151 new coronavirus cases for June 9, of which 45 were symptomatic and 106 were asymptomatic, the National Health Commission said on Friday..

    The latest round of mass testing comes on top of already onerous testing requirements that Shanghai introduced for its 25 million residents after easing its earlier lockdown.

    Residents must prove that they have been tested within the last 72 hours to enter areas like malls and offices – or even to use subways and buses. Many have become frustrated by the prospect of queuing for hours to be tested.

    Meanwhile, Beijing on Thursday shut entertainment and internet venues in two of the capital’s largest districts after tracing cases to a few bars.

    AT RISK OF ONE POSITIVE CASE

    Shanghai’s earlier lockdown fuelled widespread frustration, anger and even rare protests among its residents, many of whom grappled with lost income, the loss of freedom, the death of friends and relatives, and even hunger.

    It also battered China’s economy, disrupting supply chains and slowing international trade. And the latest setback has hit sentiment in financial markets.

    Travel into China remains severely curtailed, with most international flights cancelled for the past two years and lengthy quarantines for those who manage to arrive.

    The European Chamber of Commerce said Shanghai offices belonging to its members were only operating at 30-50% capacity while factories were running at above 80%.

    “We are at the mercy of mass testing. Factories will have to shut down even if only one positive case is detected,” said Bettina Schoen-Behanzin, vice president of the European Chamber, adding that European companies were becoming more cautious and rethinking future investments in China.

    (Reporting by Brenda Goh, Winni Zhou and Engen Tham in Shanghai, Martin Pollard in Beijng and the Beijing and Shanghai Newsrooms; editing by Richard Pullin & Simon Cameron-Moore)

    Frequently Asked Questions about Shanghai to lock down millions again for mass COVID testing

    1What is mass COVID testing?

    Mass COVID testing refers to the widespread testing of a large population to identify individuals infected with the virus, often conducted in response to outbreaks to control the spread of the disease.

    2What is a zero-COVID policy?

    A zero-COVID policy is a strategy aimed at completely eliminating the transmission of COVID-19 within a population, often involving strict measures like lockdowns and extensive testing.

    3What are PCR tests?

    PCR tests, or polymerase chain reaction tests, are a type of diagnostic test used to detect the presence of specific genetic material from pathogens, including viruses like SARS-CoV-2.

    4What is community transmission?

    Community transmission refers to the spread of a disease within a community where individuals are infected without known contact with confirmed cases, indicating widespread infection.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostRates must rise but ECB will fight fragmentation: policymakers
    Next Top Stories PostRisking EU clash, Britain pushes post-Brexit Northern Ireland bill