Despite lockdown, Shanghai stays on

Employees of an auto parts company work at a workshop in Anting Town of Jiading District, east China's Shanghai, March 26, 2022. [Photo/Xinhua]

Shanghai's economic activities remained in order as the city started its phased lockdown on Monday in response to the evolving COVID-19 situation.

The local municipal government announced on Sunday night a new round of nucleic acid testing will first begin in regions east of the Huangpu River, including the Pudong New Area, to curb the novel coronavirus. From 5 am Monday to 5 am Friday, the regions will be locked down while residents are tested.

A similar practice will be undertaken from 3 am Friday to 3 am April 5 in Puxi, or regions west of the Huangpu River.

The Shanghai Stock Exchange, which is located in the Pudong New Area, announced 30 measures late Sunday night to ensure the stable operation of the market.

Applications for floatations on the technology-focused STAR Market or major asset restructuring will be normally processed with the help of video conferencing, according to the exchange. Issuers and intermediary organizations can also apply for online consultations.

Issuers are encouraged to hold e-road shows on the SSE's online platform. This service will be free.

Online listing ceremonies will also be free during the lockdown phase. Offline ceremonies can still be held at a later date after the outbreak has been brought under control, said the exchange.

Meanwhile, the duration for public companies' information disclosure will be extended. Companies unable to release their 2021 financial results on the scheduled date due to the contagion can have the final disclosure date extended to April 30, according to the Shanghai bourse.

The benchmark Shanghai Composite Index climbed a tad on Monday.

Pudong-based Shanghai Futures Exchange said that staff for the exchange's key business departments covering trading, settlement, supervision and technology support have already worked in a closed loop earlier this month.

Staff members have been working on-site in different shifts to ensure the normal operation of the market, said the exchange.

Meanwhile, airports in Shanghai and major ports in Pudong have been operating normally.

According to the Shanghai General Station of Immigration Inspection, entry-exit Customs clearance remained normal at Shanghai Pudong International Airport on Monday, with 3,300 people and 240 international passenger and cargo flights scheduled for Customs clearance.

Contagion prevention measures have been taken at the airport and people are advised not to leave or enter Shanghai unless necessary. Travelers must produce valid 48-hour negative nucleic acid testing results to leave or enter the city.

Necessary preparations have been made in advance at Yangshan port and Waigaoqiao port, two key ports located in Pudong. Staff members at the local Customs authority are currently working two shifts over extended hours to ensure the security and smooth operation of the ports.

Operations at Shanghai International Port Group have been normal, with daily throughput regular between 130,000 TEUs (twenty-foot equivalent units) and 140,000 TEUs, said Zhou Yong, an assistant to the general manager of SIPG's production department.