Analysts said Beijing is shifting costs to wealthier regions as slowing growth and rising debt strain public finances.
People wearing Red Army uniforms participate in a reenactment at the Long March Spirit Experience Park in Yingshan, China, on June 26, 2021. Getty Images
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The Chinese Communist Party (CCP) has unveiled a new policy package aimed at boosting development in so-called revolutionary base areas, regions historically tied to the CCP’s rise to power.
Analysts point out that the plan largely relies on redistributing resources from wealthier provinces to poorer regions at a time when Beijing itself faces mounting fiscal pressure.
