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Pictured here are locals on a subway in Zhengzhou city, Henan province, on Dec. 5, 2022, after the municipality said negative nucleic acid test results are no longer needed to ride public transportation. Vcg | Visual China Group | Getty Images BEIJING — China's Covid lockdowns are having a lessening impact on the economy for the first time since early October, according to Nomura. Evelyn's lead: The negative impact of China's Covid controls on GDP has dropped for the first time since early October, according to a Nomura model. related investing news Morgan Stanley turns bullish on China stocks, giving them serious upside potential Weizhen Tan 3 hours ago However, analysts at the Japanese bank warned that the road ahead will be challenging as China doesn't appear to be ready for a spike in infections. As of Monday, the negative impact of China's Covid controls on its economy fell to 19.3% of China's total GDP — down from 25.1% a week ago, Nomura's ...

Covid restrictions have tightened in Beijing while infections keep soaring, prompting lockdowns of communities. Jade Gao | Afp | Getty Images BEIJING — China's capital city is grinding to a near standstill as Covid controls spread. More and more apartment compounds in Beijing on Friday forbade residents from leaving for at least a few days. That's on top of a growing number of bans on business activity, which have forced gyms to close and restaurants to halt in-store dining. "This morning most of our 30+ staff reported their communities went into a 7-day lockdown," James Zimmerman, partner in the Beijing office of Perkins Coie, said on Twitter Friday. He said a day earlier, the firm had to tell all its employees to work from home. It was not clear how many people were affected at a city level, and to what degree stay-in-place measures were being enforced. Beijing has a population of roughly 22 million. "You constantly hear of someone going into lockdown and yo...