REFILE-China's January-May government land sales revenue down 11.9% Y/Y
BEIJING, June 20 (Reuters) - China's government reported a steeper decline in land sales revenue in the first five months of 2025, data from the finance ministry showed on Friday.
Land sales revenue fell 11.9% year-on-year, compared with a 11.4% fall in the January-April period.
China's local governments have long relied on selling land use rights to boost revenue, but this income stream has declined sharply since 2022 as financially strained property developers have reduced land acquisitions.
At a cabinet meeting held last week, Chinese leadership vowed to advance construction of high-quality housing with land, fiscal and financial support.
The meeting called for assessments of the land supplied for real estate across the country as well as ongoing projects, and pledged to optimize existing policies as part of efforts to stabilize the real estate market.
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