Apples and oranges. They haven't been touting any China-developed antivirals, so there isn't really a loss-of-face element.

I skimmed a Global Times article on Paxlovid (probably the same one you referred to), and my recollection was that there will (almost) no changes to the "zero-Covid" policies as a result of its introduction here, but that they are hopeful that it will reduce strain on the medical system (e.g. by preventing infections from advancing to critical stages).