Will China's real estate crisis shut down the local governments?

China's real estate developers are faltering as they face dwindling sales, massive losses, and mountains of debt. Will they bring down the local governments who have been the force behind China's decades of real estate boom? How dependent are China's local governments on the real estate industry in terms of value and percentage? Lei provides her analysis, and the numbers are shocking. In anticipation of a fallout of the real estate sector, what are the finance directors of the local governments busy with now?
0:00 The quantification of local government's dependence on real estate
16:14 How are the local governments dealing with the crisis?
35:13 Q&A

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References:
https://xueqiu.com/6615553088/258152089
https://news.sina.cn/gn/2023-08-12/detail-imzfvyzm8656909.d.html