In Depth: Frugality Bites for China’s Cash-Strapped Local Governments

Chinese local governments are gearing up for another tough year and coming to terms with the new normal of frugality amid growing pressure on fiscal revenue and efforts to tackle their debt burdens.

In his first government work report to the annual session of the National People’s Congress, the country’s top legislature, in March, Premier Li Qiang told government officials to get used to tightening their belts, echoing a call in December by top leaders when they spoke of the growing pressure on budgets at their annual Central Economic Work Conference.