{"id":60068756,"date":"2025-01-23T12:32:08","date_gmt":"2025-01-23T12:32:08","guid":{"rendered":"https:\/\/dialogue.earth\/?post_type=news_digest&p=60068756"},"modified":"2025-01-23T12:32:14","modified_gmt":"2025-01-23T12:32:14","slug":"falling-coal-and-lithium-prices-hit-local-gov-revenues","status":"publish","type":"news_digest","link":"https:\/\/dialogue.earth\/en\/digest\/falling-coal-and-lithium-prices-hit-local-gov-revenues\/","title":{"rendered":"Falling coal and lithium prices hit local gov revenues"},"content":{"rendered":"\n

Eighty-five Chinese cities failed to meet their 2023 revenue targets, out of the 279 that disclosed data last year, a Southern Weekly analysis<\/a> has found. Shortfalls were concentrated in regions reliant on coal, lithium and heavy industry.\u00a0<\/p>\n\n\n\n

Local governments receive revenue mainly from taxation but also from land sales and other sources. <\/p>\n\n\n\n

Yulin, a coal-dependent city in Shaanxi province, reported the biggest percentage gap, with revenue reaching just 75% of the targeted CNY 88 billion (USD 12 billion). A city energy official put this down to declining coal prices; Yulin produces 13%<\/a> of China\u2019s total raw coal.<\/p>\n\n\n\n

Shanxi, another coal-reliant province, faced similar challenges. Of its eight cities that disclosed fiscal data, only one met their revenue target, with the rest putting their shortfalls down to falling coal prices.<\/p>\n\n\n\n

Areas linked to the electric vehicle (EV) industry also fell short of expectations in 2023. Ningde in Fujian province is home to CATL, the world\u2019s largest EV battery maker. It saw local GDP dip<\/a> as prices for lithium carbonate fell by 90%, from CNY 600,000 (USD 82,300) per tonne to CNY 70,000 (USD 9,600). Lithium is a key metal for making EV batteries.<\/p>\n\n\n\n

Meanwhile, Jiaozuo, an industrial city in Henan province, reported reaching 80% of its revenue goal for 2023, and cited \u201cweak demand, industrial overcapacity, and subdued economic expectations\u201d.<\/p>\n\n\n\n

When coal and mineral prices decline, local governments that rely heavily for their revenue on extractive industries can face challenges in prioritising green transitions while maintaining economic growth.<\/p>\n\n\n\n

Read Dialogue Earth\u2019s previous <\/em>analysis<\/em><\/a> of what China\u2019s clean tech overcapacity could mean for the Global South.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Eighty-five Chinese cities failed to meet their 2023 revenue targets, out of the 279 that disclosed data last year<\/p>\n","protected":false},"featured_media":60006649,"template":"","categories":[758,757],"tags":[17073,50041598,20000325,18133,566],"country":[20000110],"digest-collection":[50039911],"class_list":["post-60068756","news_digest","type-news_digest","status-publish","has-post-thumbnail","hentry","category-business","category-energy","tag-energy-transition","tag-government","tag-industry","tag-lithium","tag-mining","country-china"],"acf":[],"yoast_head":"\nFalling coal and lithium prices hit local gov revenues | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"Eighty-five Chinese cities failed to meet their 2023 revenue targets, out of the 279 that disclosed data last year\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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