China's anti-pandemic policy has limited impact on economy: report

BEIJING -- China's anti-pandemic approach of clearing COVID-19 infections in a timely manner has limited drag on the economy, Bloomberg said Tuesday, citing a report by Australia and New Zealand Banking Group Limited, which referred to the approach as a "COVID-zero" policy.

The reason for the policy's limited impact is that the preventive measures are highly targeted and localized, said the report.

Only some 2.6 percent of China's economy in terms of gross domestic product are affected by the "dynamic clearing" policy measures, according to the report.

Although the policy has "dampened retail sales growth," that drag on economic activities is "limited to local communities rather than the entire nation," Bloomberg said, quoting the report.