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A new virus is fast infecting the world, creating one of the biggest global health crises since Ebola and SARS.
Editor: Lin Jinbing. Producer: Yu Zhuyangyang
Cover Story: Shanghai Fights a New Covid Enemy With Old Weapons
China’s playbook of lockdowns, mass testing and quarantines can’t keep up with BA.2 variant as city experiences shortages of food and medical care

Tencent Unveils First Sales Fall, Job Cuts as Economy Sinks
China’s most valuable company recorded its first quarterly drop in staffing since 2014

Tencent-Backed Giants Dive on $24 Billion Meituan Sale Talk
Shares of Meituan, Kuaishou, Bilibili and Pinduoduo slip on report that Tencent may ditch Meituan under government pressure

PBOC Sets Weaker Fixing After Yuan Tumbles to Three-Month Low
Analysts expect the gap between U.S. and Chinese interest rates to continue to widen this year as the Fed continues to tighten

Weekly Must-Read: Graft Scandal Casts Long Shadow Over China’s Chipmaking Ambitions
Wave of detentions and probes of executives call into question the future of the largest chip investment fund and the domestic industry

Chinese Airlines to Resume Direct Flights to U.K.
End of year-and-a-half hiatus promises to dramatically slash airfares as authorities ratchet down Covid controls

Hong Kong to Shorten Quarantine for Mainland Travelers
From Friday, arrivals from the mainland will need to go through three days of mandatory home isolation instead of seven, though the city still isn’t granting individual tourist visas to them

Analysis: How New Approval Standards May Spur Chinese Covid Pills
Regulators move the goal posts for determining whether a new drug works, reflecting dramatic evolution of the coronavirus

Developer of First China-Made Covid Pill Files for Hong Kong IPO
Closely held Genuine Biotech aims to generate funds to make and commercialize Azvudine and to develop other drugs

China's Livestreaming Industry Matures After Clampdown on Stars
Videos and music, variety shows and esports are the most popular content categories, a July survey shows

Hong Kong Clears Sinovac Covid Shot for 6-Month-Olds
Surge of severe and fatal cases among young children spurs authorities to make Hong Kong the first city in Asia to lower the vaccination age to 6 months

In Depth: China Debates Who Should Pay for Public Health Crises
Covid-19 has underscored the need to improve how such emergencies are funded, experts say

Hong Kong Economy Contracts Again as Global Headwinds Mount
Second-quarter GDP declined a much wider-than-expected 1.4% amid rising interest rates, Covid disruptions and cooling global trade

Top Stories of the Month: Why China Still Doesn’t Have an mRNA Shot
In a race to develop advanced Covid inoculations, Chinese vaccine-makers lack technical expertise, ingredients, production equipment and delivery system

Analysis: How Azvudine Became China’s First Approved Homegrown Covid Pill
Little-known Genuine Biotech’s AIDS drug turns out to help Covid patients and may turn into a multibillion-dollar product

China Approves First Homegrown Covid Pill
Genuine Biotech’s antiviral Azvudine, previously used to treat HIV, will compete with Pfizer’s Paxlovid, expanding doctors’ arsenal