May 4 (Reuters) - China's eastern financial hub Shanghai reported 16 new COVID-19 deaths on May 3, down from 20 a day earlier, the local government said on Wednesday.

The city reported 4,722 new local asymptomatic coronavirus cases on May 3, versus 5,395 a day earlier, the authority said in a statement.

Confirmed symptomatic cases stood at 260, down from 274 in the previous day, it said. (Reporting by Chen Aizhu; Editing by Himani Sarkar)