Local government revenue from land sales have fallen this year due to a slump in the property market. Photo: AFP
Local government revenue from land sales have fallen this year due to a slump in the property market. Photo: AFP
Bonds

China debt: battling zero-Covid and a property market slump, local governments ask Beijing to lift bond quota

  • Beijing turned down the request from Hebei, Hainan and Liaoning, saying their current quotas were sufficient and regional debt limits were declining
  • Local government revenue from land sales has tumbled this year due to a property market slump, while Covid-19 containment has added to pressure

Local government revenue from land sales have fallen this year due to a slump in the property market. Photo: AFP
Local government revenue from land sales have fallen this year due to a slump in the property market. Photo: AFP
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