no money from the stock exchange

economy - Shanghai heads for financial crisis

Shanghai is seriously strapped for income now most of its regular sources have dried up, says Access Asia in their weekly update. While Shanghai might not easily go bankrupt, as the update says, the problems seems rather obvious as even the Shanghai tax offices have increased their demands with 100 percent.
Now the real estate sector is dead, the stock exchange still dead while costs remain the same, there is enough reason for some local panic.
Costs for the new port in Yangshan as been higher as assumed (don't they always) and the major investments for the Worldexpo 2010 are laying ahead. It looks unlikely the central government will abandon Shanghai on these prestigious project, belt tightening might for the first time be on the agenda too.
Many other projects seems to have come to a halt, although increased traffic would need more investments in stead of less.