Most of the world has moved on, and is living with Covid, but China is insisting on sticking to its zero-Covid strategy.
Tens of thousands of testing booths have been set up across China, with expensive equipment installed to stamp out the virus in every corner of the country.
Beijing has reportedly spent 300 billion yuan on PCR tests alone since the pandemic began.
Some argue that the massive bill is worth it, but others are worried about the extra burden on cash-strapped local governments.
In this episode of #AllAboutMoney, we speak with Wang Dan, chief economist of Hang Seng Bank (China), to analyze Beijing’s public finance.