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The world’s largest Covid lockdown has repercussions in China’s financial capital.

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Shanghai, which has a population of almost 26 million people, had previously handled minor epidemics with limited lockdowns. Questions about the economic toll of the nation’s zero-Covid approach surfaced on Monday, when it initiated one of the most widespread lockdowns in two years. According to media sources, Tesla is also halting manufacturing at its Shanghai factory. According to a Bloomberg study, China’s economic growth might be slashed by up to 0.4 percentage points in the first and second quarters as a result of the shutdown. As part of the mass testing, Shanghai’s Pudong financial district and surrounding regions will be closed from Monday through Friday.

The April 5 Tomb Sweeping Festival will not be observed in person; instead, memorials will be held online. The International Air Transport Association said on Friday that its annual general meeting will be relocated from Shanghai to Doha.

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