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Commentary: China’s Fiscal Engine Faces a Local Bottleneck
As the era of land-based finance fades, Beijing must ramp up special-purpose bonds and policy tools to plug a widening government funding gap
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Timeline cronologica
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China’s Fiscal Revenue Accelerates Despite Land Sales Plunge
Robust corporate tax receipts boost general budget, even as plunge in land revenues squeezes local finances
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Commentary: China’s Fiscal Engine Faces a Local Bottleneck
As the era of land-based finance fades, Beijing must ramp up special-purpose bonds and policy tools to plug a widening government funding gap