China's Local Debt Crisis Threatens Tourism Rebound in Harbin

• China's local government debt crisis adds uncertainty to Harbin's tourism revenue • Northeast China provinces face economic struggles including declining revenues and outmigration • Property sales downturn reduces local government land sale revenue used to fund services and infrastructure • Harbin and other cities forced to cut infrastructure spending to curb risky debts • Analysts doubtful tourism rebound signals broader recovery in consumption and industrial activity