China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: XinhuaChina will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua
China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua

China to bypass provinces with direct payments to cash-strapped local governments, but revenue problems remain

  • Beijing is distributing money directly into the hands of struggling local authorities, skipping provincial governments
  • More than 40 per cent of spending by regional and local governments this year will rely on central government transfers, highlighting the shaky state of their revenues
Topic |   China economy
China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: XinhuaChina will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua
China will directly transfer 2 trillion yuan in stimulus funding to city and country governments to help revive the economy. Photo: Xinhua
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