Singapore businesses in Xi'an take lockdown in their stride
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A number of Singapore companies with exposure to the Chinese city of Xi'an said the impact on their overall business is expected to be minimal, despite a lockdown that has stretched over a week amid a surge in Covid-19 infections.
The city of 13 million people was ordered to lock down on Dec 22, in line with Beijing's drive to immediately contain outbreaks as they appear.
China-focused real estate investment trust (Reit) CapitaLand China Trust (CLCT) AU8U , whose portfolio includes 2 business park properties in Xi'an - Ascendas Innovation Hub and Ascendas Innovation Towers - said it is currently adhering to the local authorities' advisory for the local workforce to work from home, except for those in essential sectors.
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