• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
China

COVID death in Beijing threatens China stocks rally, situation ‘grim’ as more government restrictions feared

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
November 20, 2022, 11:20 AM ET
Will tighter COVID curbs return in China?
Will tighter COVID curbs return in China?VCG/VCG—Getty Images
Add Fortune on Google for similar content.

China’s first COVID-related death in almost six months has sparked concern that Beijing could see a return of heightened restrictions on schools, restaurants and shops amid a continuing outbreak in the capital. 

An 87-year-old man died in Beijing on Saturday after his condition worsened, the official Beijing Daily reported. He first displayed COVID symptoms on Nov. 11 and was confirmed infected two days later, according to the report. It was the first documented death from COVID since May 26, when officials in Shanghai reported one fatality.

The COVID control situation in Beijing is “grim” as many areas face hidden risks of the virus spreading in the community, Xu Hejian, an official with the municipal government, said in a briefing on Sunday. The city reported 516 new local COVID cases as of 3 p.m. Sunday.

Some shopping malls in Beijing, including Joy City in Chaoyang district, the epicenter of the latest outbreak, have shuttered all businesses except food take-away services from Sunday, Beijing Business Today reported. Schools in several districts of the capital have told parents they’re moving to online learning from Monday until further notice. There has been no official confirmation of any district- or city-wide school closures. 

Yang Beibei, deputy head of Chaoyang district, proposed that residents continue to avoid unnecessary trips outside the district in the coming week and use flexible means such as video conferencing to work from home.

The latest fatality attributed to COVID could test the tolerance of Chinese authorities, who earlier this month narrowed some curbs in a move many took as a sign of a shift away from its strict zero-tolerance policy. After being largely isolated from the rest of the world for the past three years, China shortened quarantine times for inbound travelers and close contacts, and ended a system that suspended international flights tied to too many infected passengers. 

A COVID hit to the China stocks rally?

News of the new fatality could also damp a rally in Chinese equities, which have rebounded on new-found optimism around President Xi Jinping’s policy pivots in support for the property market and a more targetted approach to COVID. The MSCI China Index jumped more than 20% this month, poised for its best performance since 1999. 

China’s persistent outbreak increases the likelihood of additional deaths, as it can take several days or weeks before someone who has contracted COVID to turn seriously ill. The country reported a total of 23,238 new infections for Saturday, 180 fewer than Friday.

Authorities in the southern hub of Guangzhou once again extended some curbs for the downtown district of Haizhu, until Nov. 22, after the city reported 8,483 cases for Saturday. Schools in seven of Guangzhou’s 11 districts will remain closed next week, municipal government spokesman Chen Xueming said at a briefing Sunday.

Low vaccination rates among elderly and vulnerable citizens remain one of the biggest hurdles for the country’s reopening. Only 66% of those aged 80 and above are fully vaccinated and only 40% have gotten a booster. That compares with a vaccination rate of more than 90% for seniors in the US. 

The People’s Daily, the Communist Party’s flagship newspaper, said on Friday in its fourth commentary since the changes to COVID rules were announced that China is improving virus control measures and isn’t relaxing or “lying flat.”

China’s top health authorities said they are preparing for future infections by building more hospitals to treat COVID patients and ensuring that intensive care units account for 10% of all beds. 

—With assistance from Jing Li.

Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today's executives—and how they can best navigate those challenges. Subscribe here.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

3 million Americans have dropped Obamacare health coverage over past year, after Republicans let federal subsidies expire
HealthHealth Insurance
3 million Americans have dropped Obamacare health coverage over past year, after Republicans let federal subsidies expire
By Ali Swenson and The Associated PressJune 27, 2026
45 minutes ago
Amazon Prime Day total online spending surpasses Adobe estimate
Retailecommerce
Amazon Prime Day total online spending surpasses Adobe estimate
By Spencer Soper and BloombergJune 27, 2026
1 hour ago
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
EuropeRussia
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
By Jason MaJune 27, 2026
2 hours ago
Forget the ceasefire — The U.S. and Iran are still exchanging attacks over the Strait of Hormuz as Tehran tries to shut down a competing route
Middle EastIran
Forget the ceasefire — The U.S. and Iran are still exchanging attacks over the Strait of Hormuz as Tehran tries to shut down a competing route
By Jason MaJune 27, 2026
4 hours ago
p
RetailWorld Cup
The 2 billion-print, $2-pack last hurrah for a World Cup legend: the Panini sticker album’s last ride
By Dave Skretta and The Associated PressJune 27, 2026
6 hours ago
‘I’ll listen to ‘Only the Young’ at home on my own’: Zohran doesn’t know about a Swift-Kelce wedding at MSG, but he’s not going
Arts & EntertainmentNew York City
‘I’ll listen to ‘Only the Young’ at home on my own’: Zohran doesn’t know about a Swift-Kelce wedding at MSG, but he’s not going
By Kimberlee Kruesi and The Associated PressJune 27, 2026
6 hours ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
11 hours ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
3 days ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
4 days ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
3 days ago
Current price of silver as of Friday, June 26, 2026
Personal Finance
Current price of silver as of Friday, June 26, 2026
By Joseph HostetlerJune 26, 2026
1 day ago
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
AI
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
By Sebastian HerreraJune 27, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.