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https://www.wsj.com/articles/chinas-economy-tested-by-strained-city-finances-11659261600
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China’s property market slowdown and strains from the .css-1h1us5y-StyledLink{color:var(–interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}country’s zero-Covid-19 campaign are putting new pressure on local governments’ finances, forcing some to rein in spending, adding another drag on China’s weakened economy.
Local governments, which shoulder much of the expense for education, healthcare and other services in China, were already struggling with high debt loads and unsustainable expenses as 2022 began.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.