Profits at large industrial firms fell by 3.6% in the first 11 months of 2022, data showed Tuesday. A further fall is seen for December before things improve in the first quarter of 2023

Stocks in Hong Kong, Shanghai and Tokyo all rose on Tuesday after Beijing dropped its quarantine requirement for inbound travellers; the US dollar also eased

Subway trains in Beijing and Shanghai were packed, while some major traffic arteries in the two cities were jammed with slow-moving cars

Analysts have warned the world's second-largest economy is "entering the most dangerous weeks of the pandemic"

At least 37 million people caught the virus on Tuesday alone, according to data presented in a closed-door meeting

Health officials say China's Covid crisis – said to be causing thousands of deaths a day – is likely to strain its fragile health system for at least two months

Forecasters say $2.97 billion will be spent in the country, mostly driven by domestic consumers and tourism

The change in policy will also apply to travellers from Hong Kong and Taiwan in what is a major shift in China’s rollback of its Covid curbs

BioNTech vaccine shipment comes after China agreed to allow Germans in the country to get the shot following a deal during Chancellor Olaf Scholz's visit in Beijing last month

China's "closed loop" system, which had been relied on by many factories throughout the zero-Covid era, is also beginning to fall apart

India looks set to be the economic standout in the year ahead, with the central bank forecasting 6% growth for the next fiscal year starting in March.

Smartphone giant is the latest tech firm to lay off workers, as sales and revenue have taken a hit in recent months as China battled Covid outbreaks