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CHINA PRESS: Sluggish Economy Weighs Down Public Revenues

CHINA PRESS

Public revenues fell during the first seven months of the year weighed down by sluggish economic growth and a continuous decline of some energy and mineral product prices, according to Luo Zhiheng, chief Economist at Yuekai Securities. China saw the national general public budget revenue decrease by 2.6% y/y during the first seven months, while the national government fund budget revenue went down 18.5% y/y. Authorities can improve land-use revenue, which fell 22.3% y/y, by further lifting purchase restrictions in first tier cities and reducing mortgage interest rates.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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