Translated by: MOS Translation Group – zuzu

According to a foreign media report on January 31st, Chongli County in Zhangjiakou China, which is hosting the Winter Olympics skiing event, is already suffering from financial collapse before the official start of the Winter Olympics.

It is reported that Chongli County is one of the three major venues for the 2022 Beijing Winter Olympics. The county’s financial expenditure has tripled compared to the past for the construction of the Winter Olympics venues. Amid the CCP regime’s rolling out three national red lines of real estate restrictions, coupled with the impact of COVID, the real estate market fell by more than 30%, therefore the land sales took a blow. And the investment boom driven by the Winter Olympics has been fading. County finance officials have revealed that the county is facing a huge shortage of funds, and refund of the advances Chongli paid for the events that is due by the superior government is not yet paid.

In addition to financial pressures, the overall economic downturn and the epidemic have had a devastating impact on local employment. There is no hope for recovery in sight.

(This article represents the views of the author only)

Reference: https://gnews.org/post/p1945456/

Proofread by: Lakers
Edited by: Lakers
Posted by: Lakers

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