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China's Local Governments Scrap Land Sale Price Caps
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Overview
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China's local governments are addressing revenue challenges by removing price caps on residential land sales in an effort to revive sales after a 23% slump in 2022 and a 21% year-on-year decline in the first half of last year.
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How do the revenue challenges faced by China's local governments reflect broader economic challenges in the country?
How might the removal of price caps on residential land sales affect the overall housing market in China?
What other measures could China's local governments consider to address revenue challenges and stimulate economic growth?
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