China's land-use rights sale revenue falls 27.9% in first three quarters, Finance Ministry says
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China's revenue from the sale of state-owned land use rights fell 27.9% year-on-year in the first three quarters of the year, according to the Ministry of Finance, as reported by Reuters. The decline reflects continued weakness in the country's property market and local government finances, which rely heavily on land sales. The data point underscores persistent pressure on China's real estate sector and the fiscal challenges facing regional authorities.
Source report
China's revenue from the sale of state-owned land use rights declined by 27.9% year-on-year in the first three quarters of the year, according to data released by the Ministry of Finance.
Source
rtrsWestern
Part of this Story
China's Land Use Rights Revenue Falls 27.9% as Fiscal Growth Slows to 5.1%