In China, the central government changed the tax and spending system in 1994, shifting revenue collection to central government while keeping spending obligations local, leaving local governments with only 60-70% of their funding needs and forcing them to turn to land sales to fill the gap.
factualpending
Speaker
Michael BirdEvidence Quote
“the central Chinese government in 1994 changes the tax and spending system in China and instead of the local and provincial governments doing almost all of the tax raising and almost all the spending, the central government says”
Created: 8/11/2026, 7:18:57 AM
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