Homemarket News

    Chinese government's travel restrictions will lead to outperformance in manufacturing, says Shaun Rein

    market | IST

    Chinese government's travel restrictions will lead to outperformance in manufacturing, says Shaun Rein

    Mini

    Shaun Rein, Managing Director at China Market Research Group on Wednesday said he expects the factory sector to outperform the expectations.

    Shaun Rein, Managing Director at China Market Research Group on Wednesday said he expects the factory sector to outperform the expectations.
    “The factories are offering incentives for workers to stay, they are giving double payment on their salaries. Meantime a lot of these workers have decided to stay where they work and so factories are going full steam ahead in January and February, so we expect that the factory sector is going to outperform a lot of expectations,” he told CNBC-TV18.
    “You are also going to see outperforming in manufacturing and on eCommerce,” he added.
    Rein’s observations come at a time when the Chinese migrant workers return home during the Chinese Lunar New Year period. Coming in the backdrop of almost a year of the coronavirus pandemic with reports showing re-emergence of the cases in January, the Chinese government got nervous and a lot of provincial governments made the COVID test mandatory.
    China’s central government said that between January 28 and March 8—the six week period—there are going to be high restrictions on internal travel.
    These new instructions on travel will hit the travel and leisure industry negatively, Rein said.
    Watch the video for more...
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng