Caixin
Jul 02, 2022 03:05 AM
CHINA

Chinese Cities Slash Spending as Revenue Declines

Residents line up to have Covid tests at a compound in Ningbo, Zhejiang province, on April 10, 2022.
Residents line up to have Covid tests at a compound in Ningbo, Zhejiang province, on April 10, 2022.

Multiple Chinese cities are cutting second-half spending in anticipation of revenue declines resulting from pandemic controls and tax reductions.

The government of southwest China’s Chongqing city plans to cut 5 billion yuan ($746 million) of planned general public spending, according to its second-half budget published in mid-June. The government said the savings will add to a budget stabilization fund to make up for the shortfall in revenue in the second half.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
China Stories: The Rural Hardship Behind the Mine Murders That Shocked China
00:00
00:00/00:00