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China deals a blow to Blackstone’s ambitions
FT News Briefing
China's Out of Home Advertising Industry Has Been Affected by the Pandemic
Local authorities in China have been told to limit the number of land auctions. The idea was that this would reduce prices, but it didn't work. Local governments are now facing a cash crunch because they rely so much on revenue from selling land. In other business news, out of home advertising has also been affected by the pandemic.
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