The Impact caused by the COVID-19 Pandemic on Catering Industry and Medical Industry

Abstract

On December 7, 2022, The State Council of China issued "Ten new guidelines" to further relax epidemic control. The move has affected various industries in China to varying degrees, which has drawn attention to their respective indices. This article will explore the impact of the initiative on two sectors of focus, namely the hospitality industry and the healthcare industry. Using data from the catering Index (CZ399238) and the E-Fund medical index (CZ159847), this paper analyzes the impact of the pandemic's decision to release the control on these industries. The study results showed that the catering index rose sharply immediately after the policy relaxation, indicating that the catering industry is rapidly recovering and growing. However, there were no significant major changes in the medical index, suggesting a stabilization or a different trend in the pharmaceutical sector in the post-pandemic period. The study used the ARIMA model to assess these trends, providing a comprehensive overview of the immediate financial response of these industries to the relaxation of pandemic restrictions. The study not only provides insights into the dynamics of the Chinese stock market in these sectors, but also provides implications for investors and policymakers to understand patterns of economic recovery after major health crises.