China un r4i suppliers veils new polices to boost property market
r4i suppliers wholesale r4i sdhc food tray football jersey gasoline chainsaw Gasoline Generator Suppliers hdd enclosure suppliers HYDRAULIC SHEARS Indoor playground equipment Indoor playground factory indoor water park information kiosk la mécanique des matelats ladies swiss watches largest indoor water park Leather straps watch luxury watches mlb jersey multi foil insulation nhl jersey wholesale China unveils new polices to boost property marketPublished: 18 Dec 2008 23:00:59 PST<p class="authorInfor"]</p]<!--begin CK content--]
Dec. 19, 2008 (China Knowledge) - Chinese government unveiled new stimulus policies to boost the sluggish property market on Wednesday, including tax cuts for real estate sales and loosening the mortgage policies for second-home buyers, the official Xinhua News reported. </p]
The new polices allow people who has owned their home for two or more years to sell it without paying business taxes, instead of waiting for at least five years before selling their home without tax-paying.</p]
People who want to sell their home after owning it for less than two years will pay business taxes on the profit, not on the total sales price. And the tax rate remains at 5.55%.</p]
Besides, people who own "smaller-than-average" apartments are now allowed to buy a second apartment under favorable loan terms.</p]
The new policies, which will be effective for one year, are expected to benefit 7.5 million low-income urban families and 2.4 million households in shantytowns in the coming three years. </p]
The government also urged financial institutions to lend more for mergers and acquisitions (M&A) among property developers.<br /]</p]<br /]Copyright © 2008
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