China's cities are running out of money to pay huge COVID lockdown bills, report says

Quick Summary:

China's local governments are spending much more than they are taking in, CNN reported, as they conduct mass testing and lockdowns.

People lining up to get their routine COVID-19 throat swabs at a coronavirus testing site in Beijing, Thursday, November 24, 2022.

But the strategy is one that requires a lot of investment; for mass testing, city-wide lockdowns, and huge quarantine centers where people are brought to isolate.

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Category: Economy

Markets: United StatesChinaHong Kong

Topics: China Zero Covid Policy COVID-19 Politics News UK Coroanvirus International

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-02 @ 12:45:42 (2 months ago)

News Timezone: GMT -5:00

Ranking: #2991 (out of 6810 stories this day)

News Source URL: businessinsider.com

Language: English

Article Length: 373 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 10 words per sentence (average)

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Copyright Owner: © Business Insider

News ID: 2099310

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