A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps in their budgets
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Analysis: China’s Local Fiscal Recovery Hides Scramble to Plug Budget Holes
A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps…
As the era of land-based finance fades, Beijing must ramp up special-purpose bonds and policy tools to plug a widening government…
Debt resolution, weak land revenues and falling infrastructure funds show that local governments are no longer driving expansion…
Recovering producer prices boost tax receipts while weak land sales continue to pressure local finances
Robust corporate tax receipts boost general budget, even as plunge in land revenues squeezes local finances
Early surge in budget outlays contrasts with weak revenue growth
