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According to an official statement from the Ningbo Municipal Government of Zhejiang Province, the authorities are working closely with companies within the area to provide incentives to employees to celebrate Lunar New Year on the spot instead of travelling homes to avoid the spread of COVID-19 infections.

Incentives for employees, who decide to stay for the period from 26 January to 10 February 2022, include accommodation, shopping discount coupons, and a subsidy of CNY100 per day per person. 

Market sources said that manufacturers might be able to operate well into the holidays instead of shutting down early would more employees decide to stay. “We hope this would encourage manufacturers to secure more materials in the coming weeks, though, we are not that all optimistic,” a market source said. 

Players are concerned about the strict measures implemented by the government in curbing the spread of COVID-19 infection that potentially dent demand. 

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China