Cash-strapped local governments in China artificially boosted their revenues last year by selling swaths of land to their own investment vehicles, an official think-tank said, raising concerns about the extent of their financial woes.More than half of the Rmb2.2tn ($316bn) in residential property plot sales by local Chinese authorities in 2022 were made to local government financing vehicles (LGFVs), according to a report published last week by the Chinese Academy of Fiscal Sciences, which warned some transactions “might be fake”.
一家官方智庫表示，資金緊張的中國地方政府去年通過將大片土地出售給它們自己的投資平臺，人爲提高了財政收入——這引發了人們對地方政府財政困難程度的擔憂。
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