Since the Omicron variant outbreak began in China, Chinese state-owned companies have been making billions of dollars selling test kits to the public. The rapid antigen detection tests approved by Chinese authorities for home use are selling at many times the cost of manufacturing. As the competition among Chinese manufacturers has intensified, the cost of centralized test kit procurement in various regions has fallen sharply yet retail prices remain high—as much as 5 to 15 times the production cost. According to Chinese state media reports, the retail price of a single rapid antigen test kit ranges from 16.8 to 30 yuan ($2.60 to $4.70) in various parts of the country.  Meanwhile, the production cost of a single-use kit is only between 2 and 3 yuan ($0.31 to $0.47), the 21st Century Business Herald reported on March 16, citing a research report by GF Securities. Only test kits produced specifically for …