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    CHINA COVID

    Hong Kong's tourism industry has suffered since 2019 after months of political strife that at times turned into violent clashes between protesters and police, as well as harsh entry restrictions implemented during the pandemic.
    Pandemic prevention measures have "entered a new stage" that is allowing "a gradual return" to normal life, National Bureau of Statistics (NBS) statistician Zhao Qinghe said in a statement.
    China has conducted emergency reviews and granted conditional approval for two homegrown drugs for COVID-19 treatment, the National Medical Products Administration said on Sunday.China grants conditional approval for 2 domestically developed Covid-19 drugs
    The overall deficit of 8.96 trillion yuan puts local governments in an increasingly poor fiscal position and could make the central government reluctant to support the economy with fiscal spending after last year's slump in growth. The deficit was larger than the previous record of 8.72 trillion yuan in 2020, when the economy was battered by the initial Covid outbreak, and was 51% higher than in 2021, according to Bloomberg calculations based on Ministry of Finance data.
    "The overall epidemic situation in the country has entered a low level, and the epidemic situation in various places has maintained a steady downward trend," National Health Commission spokesperson Mi Feng told a media briefing on Monday .
    It is three years since the WHO first declared that Covid represented a global health emergency. More than 6.8 million people have died during the outbreak, which has touched every country on Earth, ravaging communities and economies.
    The Economic Times
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