Annual land transfer expenditure in China 2021, by city tier
In 2021, tier-two cities in China generated almost 2700 billion yuan of revenue through land transfers, representing almost half of all land transfer revenue in China's urban areas. Many regional capitals and smaller cities in China are highly dependent on revenue generated through land transfers, mainly due to the lack of other sources of income. The situation poses a long-term risk to the sustainable growth of the Chinese economy.