China to reform real estate tax

cctv.com 03-21-2005 10:54

The Chinese government will focus on real estate tax reform in the short term, saying that the current tax on real estate ownership and transaction is less than sufficient. The remark was made by vice-minister of finance Xiao Jie, at the China Development Forum Sunday.

This suggests that the over-heating in the property sector is attracting wide attention and discussions on real estate tax reform. It is expected that the real estate tax will be levied in order to curb the property speculation. Currently, the tax is levied on trial basis in several cities.

Editor:Hu Hang  Source:CCTV.com