The Hong Kong Special Administrative Region (HKSAR) will shorten the COVID-19 hotel quarantine period for inbound travelers flying from overseas or Taiwan to three days from the previous seven days starting Friday, the HKSAR government announced Monday.

The quarantine will be followed by four days of health monitoring, during which travelers can leave home but are restricted from restaurants and bars, HKSAR Chief Executive John Lee told a press conference.

Lee stressed that the shortening of the hotel quarantine period doesn't mean the HKSAR is giving up on controlling the pandemic, adding that the local government is striking a balance between risk control and economic development.

He also vowed to introduce scientific methods in pandemic control and efforts to reduce the number of severe cases and deaths.

Officials also unveiled a tiered health-code system. A yellow code will be given to people under quarantine and health monitoring to limit their activities, and anyone testing positive will be given a red code. A blue code will be given once the quarantine and health monitoring period has ended.

The HKSAR reported 4,040 new COVID-19 cases Monday, 3,807 of which were locally transmitted.