Chinese companies are slow to restart operations, majority of workers yet to return to work

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Chinese local governments have been urged by President Xi Jinping to kick-start business operations after an extended Lunar New Year holiday, but high frequency data show that the progress has been slower than expected.

Transport restrictions, lockdowns and mandatory 14-day quarantines for returning workers have hampered the flow of migrant workers.

Analysts use gauges including daily coal consumption of power plants, number of returned migrant workers and travel intensity in first-tier cities to measure the progress of business restart.

Daily coal consumption of the six major power plants has only . . .

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