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China’s Fiscal Spending Outpaces Revenue
Early surge in budget outlays contrasts with weak revenue growth
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China’s Fiscal Spending Outpaces Revenue

Higher prices, stronger imports and tighter tax compliance lift March revenue, but weak land sales remain a drag

Recovering producer prices boost tax receipts while weak land sales continue to pressure local finances

A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps…

Local government strain deepens as May land sales tumble 36%

Plunging land sales revenues and strict debt scrutiny are paralyzing local government spending

Revenue decline could blunt impact of record deficit plan