Chinese New Year 2023: Traditions/Greetings/Food for a Lucky Rabbit Year .

        
           

                                                                      To China now where 1.4 billion people are preparing to ring in the Lunar New Year this weekend lockdowns . Mass testing quarantine and restrictions on movement have all taken their toll on the world's second biggest economy over the past year but with the abrupt end of the government's zero covert policy the economy is finally taking off so will the year of the rabbit all get better things . Stephen McDonald reports from Beijing China's rapid reopening after the sudden abandonment of zero covert has triggered an explosion in coronavirus infections but it's also prompted a new wave of optimism that this huge economy could pick up quickly this could prompt foreign companies to stay in China rather than move elsewhere one Hui Yao has connections with senior Communist Party officials and he thinks foreign investment is set to improve here dramatically . I'm sure this year 20 times 3 GDP will double the one of 2022 so which means the investment for investment I would say not double but at least I can imagine a 50 increase lockdowns and other restrictions meant many foreign businesses didn't survive the covert crisis  yeah it's pretty hard I was there for 10 years it was just after the 10th anniversary that of us taking the lease on that we actually did close and we decided that um you know you can't just keep trying good money after bad because we can't you know . 

Steve Goody's bar was popular with expats and local customers alike but he says it was impossible to pay rent and wages with constant closures neighboring restaurants also closed at the same time as his business a couple of months ago a bad sign yeah so imagine how many empty rooms there are like this in Beijing right now which used to be bars and restaurants and things China's reputation is a place to do business took a beating during the pandemic with Supply chains at times grinding to a halt Wang Hui Yao says the government will now be working its tail off to attract foreign companies again here everything is smooth Transportation labor raw materials you know infrastructure and then also China started with 21 free economic zone now one thing that is certain is that hundreds of millions of Chinese consumers are out and about again China may have its problems but it also has a huge and expanding middle class which is hard for companies to ignore . Stephen well earlier I spoke to Chang Liu who's the managing director for greater China at . The Economist group and I began by asking her how important the middle class is for the rebound in China .

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