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BEIJING -- China said it will consider "new reforms for the fiscal and tax systems" as it looks to support local authorities struggling with shrinking incomes and heavy debt, but provided no details in its latest government work report.
BEIJING -- China's per capita gross national income declined in dollar terms for the first time in 29 years in 2023, government data released Thursday shows, pulling it further from the World Bank's threshold for a high-income country.
BEIJING -- China's move to slash borrowing rates for homebuyers underscores how authorities are trying to prop up a weak housing market with few tools at their disposal.
BEIJING -- Revenue from the sale of land-use rights in China, a critical source of income for local governments, fell by 13.2% in 2023 as the country's deep real estate recession hit municipal finances hard.
BEIJING -- The effects of China's flagging economy on employment are extending beyond university graduates having trouble finding work, as workers in their 30s face increased risk of termination and struggle to find new jobs.