BEIJING -- China's regional governments earned 55% less from land-use rights sales in January-October than the 2021 peak for the period, deepening their financial woes and creating an obstacle for economic stimulus measures.
China debt crunch
China stimulus hampered by plunge in land sale income
Local governments wary of issuing new bonds as main revenue halves from peak
Chinese developers are shying away from new projects amid a protracted downturn in the property market. © Reuters
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