A roll of steel sheet is guided into position at a factory in Handan, Hebei province. Moody’s notes that some provinces heavily exposed to excess-capacity industries such as coal, steel and basic manufacturing are lagging behind the national average. Photo: Reuters

Chinese local government finances improve but provincial imbalances still pose significant risk, says Moody’s

Regional government revenues, including tax and non-tax revenues, rise 11pc in the first six months and land sales increase 10pc

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A roll of steel sheet is guided into position at a factory in Handan, Hebei province. Moody’s notes that some provinces heavily exposed to excess-capacity industries such as coal, steel and basic manufacturing are lagging behind the national average. Photo: Reuters
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