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CHINA PRESS: Chinese Local Governments Selling Assets For Revenue

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Local governments are seeking new revenue streams by leveraging assets, Caixin.com reported. A Chongqing city fiscal report showed non-tax revenue mainly came from asset disposal, which grew 31.2% y/y in H1, while tax revenue grew by 2.8%. The city faces increasing difficulty in monetising assets and will focus on government-owned housing, land and large equipment, Caixin reported.

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Local governments are seeking new revenue streams by leveraging assets, Caixin.com reported. A Chongqing city fiscal report showed non-tax revenue mainly came from asset disposal, which grew 31.2% y/y in H1, while tax revenue grew by 2.8%. The city faces increasing difficulty in monetising assets and will focus on government-owned housing, land and large equipment, Caixin reported.