China's cities are running out of money to pay huge COVID lockdown bills, report says

AP Photo/Andy Wong, File

• China's zero-COVID strategy is having a big financial impact on local governments, CNN reported.
• They had a budget deficit of more than $1.65 trillion between January and October, CNN said.
• China's strict strategy involves mass testing and locking down major cities.

Local governments in China are fast running out of cash...