Jiangsu fell 0.4 percentage point short of its budget target set at the start of 2018. Photo: Xinhua

China’s economic policy dilemma increases as boosting growth is eating into local government coffers

  • Most of the nation’s 31 provinces failed to meet 2018 budget targets after China’s cut in value-added tax last year
  • Analysts expect fiscal revenue growth to slow further due to planned business tax cut
Topic |   China economy

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Jiangsu fell 0.4 percentage point short of its budget target set at the start of 2018. Photo: Xinhua
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Elaine Chan

Elaine Chan

Focuses on China business and finance

Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.