Struggling Chinese regions mine ledgers for dormant riches in ‘idle’ property

Struggling Chinese regions mine ledgers for dormant riches in ‘idle’ property

Chinese provinces are scouring their balance sheets to revitalise idle state assets, seeking alternative revenue streams to counter intense debt pressures stemming from the prolonged property downturn. In jurisdictions such as Jilin, Sichuan and Chongqing, which are leading this fiscal drive, local authorities are doubling down on meeting aggressive regional targets to repair strained finances. Jilin’s governor, Hu Yuting, on Tuesday said the pr…