Caixin OnlineOpinionEditorial Learning to Cope with Lean Times
09.12.2012 17:50

Learning to Cope with Lean Times

The growth of government revenue is declining, but spending is still rising. Officials must learn how to trim the fat in their spending

The growth in local government revenues is undeniably slowing in China. Even in the wealthier regions like Beijing, Shanghai, Zhejiang and Guangdong, revenue growth rates have slid to less than 10 percent year on year from 20 to 30 percent.

In the first seven months of this year, total revenues grew by only 13.8 percent, slower than forecast. Worse, land sales – the main source of income for local governments – have dropped sharply. In the first half of this year, the land transfer fees collected in 300 cities fell 38 per cent from a year ago.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
Sign up to receive our free daily newsletter


Latest Issue
On the Cover:

Hong Kong Prop

Issue 98
February , 2016



Economics & Finance
Latest Issue:
Hong Kong Prop
China's central bank is supporting the yuan and fending off short-sellers in the world's largest offshore yuan market
Issue 98

Subscribe       |       Newsletter        |        FAQ