Although much of the world reopened in 2022, China has remained cautious in its management of the COVID-19 pandemic. While asset managers have remained agile in adapting to the government's zero-COVID strategy, long-running lockdowns and travel restrictions have taken their toll on the country's streak of economic growth and expansion. When may China be ready to reopen, both internally and externally? How are investors shifting strategies in the face of the government's strict COVID-19 management policy?