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Land Sale Revenue To Remain Low In 2024

CHINA PRESS
MNI (Singapore)

Land sale revenue this year will likely remain flat or increase slightly from 2023 given the low base level set during the past two years. Regional disparities will increase, with some provinces expecting double-digit revenue growth, while others decline. Local governments can sustainably grow local fiscal revenue by promoting smooth real estate market operations, improving business environment, upgrading industry, and attracting population inflow, said Luo Zhiheng, chief economist of Yuekai Securities. Land sales revenue totaled CNY4.2 trillion in the first eleven months of 2023, a fall of 17.9% y/y.

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