Share of land transfer fees paid by urban investment groups in China, by province

In 2022, 35 percent of Guangxi's land transfer revenue were contributed by urban investment groups, signalling systematic problems in the province's real estate market. Urban investment groups are mostly commercial entities set up by the local governments, and the debt situation within these groups, together with debts accumulated by local governments is a long-term risk to the Chinese economy.

于2022年，广西土地转让收入中，有35%由城市投资集团贡献，此现象揭示了该省房地产市场存在的系统性问题。城市投资集团大多为地方政府设立的商业实体，这些集团内部的债务状况，以及地方政府累积的债务，构成了对中国经济长期风险的威胁。