China's government land sales revenue down 6.5 percent y/y in H1

China's government posted a narrower decline in land sales revenue in the first half of 2025, data from the finance ministry showed on Friday.

Revenue from government land sales fell 6.5 percent year-on-year, compared with an 11.9 percent drop in the first five months of the year.

Land sales, a major fiscal pillar for local governments, have dropped significantly since 2022 as cash-strapped developers reduced land purchases amid sluggish economic growth.

Reuters