Chinese local governments set lower fiscal revenue target in 2022 amid slowing economy

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Most Chinese provinces set a lower growth target for fiscal revenue in 2022 due to Covid-19 outbreaks, the slowing economy, high comparison base and new tax and fee cuts planned to boost the economic growth.

Among the 25 provincial regions that had released fiscal revenue targets for 2022 as of February 9, only two provinces set targets higher than the actual growth last year and all of the remaining 23 regions set targets lower . . .

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