China Covid cases climb in new risk to economic activity

China's daily tally of Covid-19 cases rose to the highest level in more than seven weeks, as infections spread in some central, northwestern and southern provinces. The country reported 450 infections on Friday, the most since May 25, with more than half the cases found in Anhui and Gansu, according to the National Health Commission.

Shanghai, the financial hub that has endured weeks-long citywide lockdowns, recorded 33 cases, a drop from the previous day. Data on Friday showed widespread lockdowns strained economic activity in the second quarter. GDP grew 0.4% during the period, the slowest pace since the country was first hit by the Covid outbreak two years ago.