China plans to cut taxes on home purchases to stimulate its lagging housing market.

China is planning to slash taxes on home purchases to revive its struggling housing market. Regulators are considering a proposal to reduce the deed tax for buyers in major cities like Shanghai and Beijing from up to 3% to as low as 1%. This fiscal stimulus aims to support the property sector and boost domestic demand, alongside other recent measures such as cutting mortgage rates and easing buying restrictions.

November 12, 2024
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