China’s anti-virus spending boosts medical, tech and construction sectors
BEIJING – China’s “COVID zero” policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country’s economy, but it has created bubbles of growth in the medical, technology and construction sectors.
The Chinese government, alone among major countries in vowing to eradicate the coronavirus within its borders, is on track to spend more than 350 billion yuan ($52 billion) this year on testing, new medical facilities, monitoring equipment and other anti-COVID-19 measures, which will benefit as many as 3,000 companies, according to analysts.
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