2022-11-25 08:00:48

Chinas Covid-19 burden forces local governments to slash spending

Logo South China Morning Post
South China Morning Post
By Amanda Lee
  • Several local authorities have recently reduced their revenue targets for the year, citing the property market slump, tumbling tax takes and Covid-19 outbreaks
  • Naan district in Chongqing will cut budgeted expenditure by 229.87 million yuan, saying the slowing economy is putting unprecedented pressure on finances

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