After three years, China is finally reopening for travel, but as the country experiences its first national wave of Covid-19 cases, what does that mean for travellers going into and flying out of the country?
What is changing in China on January 8?
As it scraps its zero-Covid policy, which has led to the rise in cases, Chinese authorities are lifting several major Covid-related entry restrictions as of Sunday and this includes quarantine requirements for international arrivals.
Before now, foreign travellers needed to quarantine for five days in a hotel and self-isolate three days at home.
Now, anyone heading to China needs to take a nucleic acid test 48 hours before departure and people with negative results no longer have to apply for a green health code from embassies and consulates before entering the country.
Visitors do still need to fill in a customs health declaration form, however, and positive cases cannot travel to China until they're testing negative again.
Can international travellers now fly to China?
Not quite. Borders remain mostly closed to foreign travellers for leisure reasons for now, but an easing of restrictions has been announced, with no clear timeline. For example, the country needs to start issuing tourism visas again and while that's part of the reopening plan, no date has been set for it.
For now, the focus is on visa applications for foreign nationals travelling to the country for business, family reasons, employment and reunions.
This includes Chinese nationals studying or working abroad, who may not have been able to travel home for nearly three years due to the costs of flight tickets or hotel quarantines.
Can people fly out of China?
Yes, the rule that stopped Chinese citizens from going overseas for "non-essential" reasons has also been lifted, allowing international travel for leisure again. Getting back into the country has become much easier, too.
According to global travel service provider Trip.com Group, mainland China's outbound flight bookings on the morning of December 27 — the day after the easing of travel restrictions from January 8 was announced — increased by 254 per cent, when compared to the previous day.
In particular, searches for flights to Singapore, South Korea, Hong Kong, Japan and Thailand led the surge.
China's Ministry of Transport said on Friday that it expects more than two billion passengers to take trips over the next 40 days.
However, as Covid-19 cases soar in the country, international governments have placed restrictions on travellers coming from China.
Qatar, for example, announced it would require people arriving from China to provide a negative Covid-19 result from a test taken within 48 hours of departure, with the measures in place from last Tuesday.
The US, Canada, Australia and the UK imposed PCR testing requirements on any travellers from mainland China from Thursday.
Morocco took this one step further by banning all travellers arriving from China, “to avoid a new wave of contaminations in Morocco and all its consequences”, said the foreign ministry.
But the International Air Transport Association called these "knee-jerk reactions".
“Several countries are introducing Covid-19 testing and other measures for travellers from China, even though the virus is already circulating widely within their borders," said Willie Walsh, director general of IATA. "It is extremely disappointing to see this knee-jerk reinstatement of measures that have proven ineffective over the last three years.
"Research undertaken around the arrival of the Omicron variant concluded that putting barriers in the way of travel made no difference to the peak spread of infections. At most, restrictions delayed that peak by a few days. If a new variant emerges in any part of the world, the same situation would be expected.
"That’s why governments should listen to the advice of experts, including the World Health Organisation, that advise against travel restrictions."
What about domestic travel?
While domestic travel within China has been largely allowed throughout the pandemic, its popularity has had peaks and troughs, particularly as movement was restricted thanks to digital health codes. But these are no longer in place.
Chinese travel agencies are reporting spikes in bookings and searches to various destinations, including Beijing, particularly around the Lunar New Year public holiday, which runs from January 21 to 27.
Major attractions across the country, including museums and theme parks, are now welcoming visitors as normal.
What Covid restrictions remain in China?
China scrapped its zero-Covid policy, which it has had in place since the beginning of the pandemic, in December, following public protests.
This included mass testing, home quarantine for people with Covid-19 and sporadic lockdowns.
Currently, there are no government mandates for face mask-wearing and social distancing, although it's strongly encouraged in indoor places and on public transport, where mobile health QR codes are also still required.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
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The years Ramadan fell in May
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Zayed Sustainability Prize
Other simple ideas for sushi rice dishes
Cheat’s nigiri
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.
Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.
Deconstructed sushi salad platter
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.
