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Macau casino stocks rebound as China eases entry restrictions for foreigners

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China announced on Friday that it will ease immigration procedures for foreigners entering the country.Macau also followed the Communist Party in quickly announcing that it would ease border restrictions.

Earlier this month, a temporary wall blocked access to a public shopping area in Guangzhou, Guangdong province.China is finally easing quarantine requirements for foreigners who want to enter the country. (Image: AP)

China's National Health Commission confirmed on Friday that starting Saturday, November 11, foreigners will only be required to undergo quarantine at government-designated hotels for five days.This is two days off the previous seven-day quarantine requirement.

After quarantine, foreigners will still be required to self-isolate for three days before going out into the general public.This immigration policy update is referred to by the People's Republic as the "3+5" quarantine scheme.The previous arrangement was “3+7,” meaning seven days of quarantine and three days of self-isolation.

Also, starting Saturday, a single negative nucleic acid test will be required within 48 hours of arrival.Previously, two negative tests were required.

During the three-day quarantine period, foreigners are only allowed to leave their hotel rooms or accommodations after confirming that they have tested negative on that day and uploading the proof to China's electronic hygiene norms monitoring platform. .Once uploaded and approved, the user's Health Code app will display the QR code as "green" indicating the person's COVID-3 risk.This means that the person is generally not at risk of carrying or spreading the coronavirus.

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Macau main news

Along with Hong Kong, Macau is one of two Special Administrative Regions (SAR) in China.Macau adheres to Beijing's "one country, two systems" principle.

Macau is an autonomous enclave with its own government, legal and financial operations.Still, Macau is internationally protected from mainland China.Instead, Macau is following China's lead in implementing national security measures that are classified as pandemics.

Relaxing entry rules for foreigners into China and Macau is a major development for the six SAR casino operators.

China's "zero COVID" response, which Macau has followed throughout the pandemic, forces the city to shut down when new coronavirus cases are detected.The policy has hampered the recovery of Macau's gaming market, which was the richest gaming market in the world before the pandemic.

Investors jumped on the Chinese news and hoped for a meaningful recovery soon.Shares of four US-listed casino operators licensed in Macau posted a significant gain on Friday's open.

Las Vegas Sands shares rose more than 5.5%, Wynn Resorts rose 7.25%, MGM Resorts rose 2.7%, and Melco Resorts rose more than 10.5%, the big winners.

test blitz was broken

Macau announced on Friday that it would not launch a large testing round across the region. The SAR has ordered many such tests in the past following new clusters of COVID-19.

While this pandemic change should improve foreign visits to China and Macau slightly, meaningful travel numbers are unlikely until the quarantine is fully lifted.

Much of the world continues to wait for China to end "Zero COVID".Only then can the world's most populous country return to a sense of normalcy coexisting with the coronavirus.

The Chinese people are also eagerly awaiting the end of "Zero COVID".Residents told the Associated Press this week that they are tired of living with forced smartphone apps telling them where to go and where not to go.

"My life is definitely not what it was three years ago. I'm just in Beijing," said Ying Yiyang, who works in marketing and lives in Beijing.

Quote of the day Could it be a word that will change your life?

There may be no "next" or "someday". by Yukinoshita Yukino

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