Economics
China’s Looming Budget Hole Poses Risk to Stimulus Efforts
- Ministry of Finance sees first drop in income in two decades
- Local governments may see spending curtailed on land revenue
Members of the People's Liberation Army honor guards march past the Wumen Gate of the Forbidden City in Beijing, China, on May 21.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s plan to ramp up spending to support the economy is meeting an inevitable challenge: a slump in income due to the pandemic-induced downturn.
China’s 2020 Fiscal Spending to Rise 13% to Counter Slump