ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Real estate is king for China's cities as tax revenues stumble

Beijing and Shanghai reap booming property markets while others struggle

A man rides past a residential construction site in Beijing, which boosted land sale receipts by 15% last year.   © Reuters

BEIJING -- China's regional governments are taking in proceeds from land sales that are equivalent to more than half of the country's combined tax revenue as coronavirus relief measures diminish traditional intake from levies.

This has buoyed the budgets of big cities such as Beijing and Shanghai, which are seeing sustained building booms, but has done little to help other cities where real estate markets are in a funk.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more