Source: CCTV.com

06-01-2007 14:14

China's State Administration of Taxation says that the total revenue from deed taxes has reached over 36 billion yuan in the first four months of the year. Although turnover in the real estate sector in many areas has dropped, the income has jumped 32 percent from a year earlier.

Data shows that 32 provinces, municipalities and autonomous regions have seen their deed tax revenues spike up this year. However, the property markets in most of these areas are rather quiet. In Beijing,the turnover of completed apartments dived 50 percent in the first quarter, while sales of properties under construction fell nearly 30 percent. Experts say that this inverse relationship between tax income and turnover is not necessarily a contradiction.