China Provinces See Fiscal Income Growth Rebounding in 2023
- At least 26 jurisdictions expect budget revenue up 5% or more
- Governments still see risks including pressure on tax revenue
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Most Chinese provinces expect income growth to pick up as the economy recovers, though the need for more economic support poses a risk to their balance sheets, according to the state-run Securities Times newspaper.
At least 26 of China’s 31 provincial-level jurisdictions expect their general public budget revenue, which includes taxes, to grow 5% or more in 2023, the publication wrote in a front-page article Thursday.