Caixin
Nov 10, 2022 04:32 AM
CHINA

More Chinese Labs Run Out of Cash as Government Payments Fall Behind

In the first three quarters of 2022, total receivables of nine leading Covid-19 testing operators reached $4.99 billion.
In the first three quarters of 2022, total receivables of nine leading Covid-19 testing operators reached $4.99 billion.

A Covid testing lab in central China’s Henan province suspending handling tests, saying Tuesday that local governments weren’t paying the bills. A day later, the lab said the issue was “effectively resolved.”

Xuchang Boao Runkang Medical Laboratory has conducted mass nucleic acid testing in the city of Xuchang since January 2021. The costs of reagents, supplies and labor without timely payment by districts and counties put significant financial pressure on the lab’s operations, the company said Tuesday in a statement.

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