China Implements Tax Relief Measures to Revive Real Estate Sector
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China: China has announced tax relief measures to support the struggling real estate sector, which accounts for about a quarter of the country’s GDP. Policies include enhanced deed tax incentives for housing transactions and a reduction in the minimum prepayment rate of land value-added tax, providing relief to both homebuyers and real estate companies. The government has also allocated USD 500 billion to complete stalled housing projects, introduced interest rate cuts, and eased purchase restrictions to boost economic activity.
Source: Prop News Time