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China’s Local Officials Cut Color-Printing, Travel to Save Cash

  • Stimulus and virus control putting extra burden on budgets
  • Local governments are “financially squeezed” as tax take lower
Hong Kong Dollar, Chinese Yuan and US Dollar Banknotes As Currency Peg Intervention From HKMA Continues Into Third Day
Photographer: Paul Yeung/Bloomberg

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Don’t expect a pay raise or bonus. No color printing. Turn off the lights when leaving the office. Travel less.