At least 37 million people caught the virus on Tuesday alone, according to data presented in a closed-door meeting
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
There is worry about the threat of a huge number of deaths, while the US voiced concern about virus mutations and the economic impacts, both at home and abroad
Stocks in China suffered their biggest fall in seven weeks, while Hong Kong, Tokyo, Sydney and most of Southeast Asia also declined. Indian markets, however, enjoyed a small rise.
The leader manufacturer of chips for automobiles has shut its plant in Beijing after workers caught Covid last week
China's rocky exit from zero-Covid has forced banks and financiers to dust off plans devised to cope with the health crisis, injecting greater of unpredictability into markets