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Local Governments Selling Assets To Boost Revenue - Caixin

CHINA PRESS
MNI (Singapore)

Local governments have stepped up efforts to sell state-owned resources and assets, including disposal of idle public housing and transferring mining rights, to plug the fiscal gap from reduced tax revenue, Caixin reported. In H1, the non-tax income of the Xinjiang autonomous region has increased by 107%, mainly due to the sales of oil and gas blocks, Caixin added.

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