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COVID curbs cost Chinese provinces over $50 billion

Chinese provinces spent at least RMB 352 billion ($51.6 billion) on COVID-19 containment in 2022, according to annual budget reports from local governments, adding strains to provincial finances in a year when economic growth slowed, reports Reuters.

Of China’s 31 provinces, regions and municipalities, at least 20 have disclosed their expenditure on fighting the pandemic in 2022, with rich provinces spending the most.

China’s biggest provincial economy, Guangdong in the south, spent RMB 71.14 billion last year, including vaccinations, PCR testing and subsidies for medical staff. The figure, the largest among the 20 provincial economies, was up 56.8% from COVID-related spending in 2021 and more than double 2020’s spending.

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