After the outbreak of the CCP virus in 2020, China’s economic growth has been declining rapidly. Various structural problems in the Chinese economy began to erupt visibly in 2021. Among them, the slow sales of real estate have resulted in a sharp drop in the revenue of local governments at and below the provincial level….
Local Authorities in China Face Huge Revenue Drops as Land Sales Plummet
China Government Land Sales Down for Fifth Month Amid Cash Crunch
BEIJING—The Chinese government’s revenue from land sales fell for a fifth straight month in November as a liquidity crunch engulfed the country’s most indebted developers amid persistent market headwinds. In November, the value of land sales nationwide sank 9.90 percent from a year earlier, although that was less than the 13.14 percent annual decline in…
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