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.
%2520DJI_0754.JPG?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
