BEIJING — China’s regional governments earned 55% less from land-use rights sales in January-October than the 2021 peak for the period, deepening their financial woes and creating an obstacle for economic stimulus measures.
Sales of rights to state-owned land are a main income source for regional governments. Total sales for January-October came to 2.7 trillion yuan ($372 billion), down 23% on the year for the third straight year of declines, according to the Finance Ministry.
