China’s Extensive Covid Testing Is Racking Up Quite a Bill

Hi there, it’s Jinshan in Hong Kong. You might wonder how much China’s Covid Zero policy weighs on government budgets as it ferrets out all infections. We’re seeing some skyrocketing numbers from companies that shoulder much of the work, and the figures are often found in the accounts receivable column. But first...

During earnings season we realized diagnostic firms in China were starting to warn that the country’s Covid-19 testing blitz meant some customers – often local governments – were taking longer to pay their bills. That caught our attention: how big was the pile up?