Bankruptcy numbers in the first six months of the fiscal year hit a new peak amidst a crippling post-Covid labour shortage in the country

The financial hub's government spent in excess of $76 billion fighting the spread of Covid-19 and providing economic relief to its businesses

China's biggest provincial economy, Guangdong in the south, spent $10 billion last year, including vaccinations, PCR testing and subsidies for medical staff.

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

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

Analysts say China is ill-prepared for a fresh wave of infections, with little exposure to a disease kept largely in check until now

Cities that were already battling their most severe outbreaks saw a sharp decrease in economic activity after rules such as regular testing were scrapped

Beijing's loosening of rules that have hobbled the world's second largest economy is being seen as the strongest sign yet that China is preparing its 1.4 billion people to live with the disease

Analysts predict China may now re-open the economy and drop border controls sooner than expected next year, with some seeing it fully open in spring

Foxconn's India expansion is central to Apple's efforts to shift production away from Covid-hit China