Pilot testing of a property tax could be introduced in the eastern Chinese province of Zhejiang, according to a former government expert, reports Reuters. The suggestion is the latest sign that the country is moving towards the adoption of the long-discussed tax. Friday saw China’s leader Xi Jinping call for progress on a property tax […]
Category: Property
The price of housing has dropped in the majority of China’s provinces for the first time in over six years as the government tries to tame a real estate bubble, sending debt-laden local authorities scrabbling to halt the decline, reports Nikkei. Sixteen out of 31 provincial-level divisions, which include cities directly administered by the central […]
The state of the property market is still a big story in the China world, but let’s start with the energy crisis, a pretty much unpredicted black swan which flew onto the radar just a few weeks ago, and has created all sorts of havoc. Coal, which fuels most electricity power plants, is in short supply. The […]
Sinic Holdings Group has become the latest struggling Chinese property developer to warn of an upcoming default, as rising contagion risk leaves investors wondering who else may face a credit crunch, reports the South China Morning Post. The Shanghai-based company said in a Hong Kong stock exchange filing that it does not expect to repay […]
Housing sales in China are slowing down as curbs on lending and concerns about developers’ financial health deter home buyers, casting a shadow over an industry central to the Chinese economy, reports The Wall Street Journal. Over the last week, many large developers have reported lower sales figures for September, with several showing year-over-year declines […]