From The Financial Times: China is to introduce a tax on property sales in the latest government attempt to damp demand in a real-estate market that some analysts believe is at risk of overheating.
Beijing will also introduce rules to reduce speculative investment in property, according to the official Xinhua news agency, which cited regulations proposed by seven ministries and government agencies.
The new tax is a further indication that Beijing views the property sector as a potential source of economic instability and reflects the delicate balancing act the government faces in trying to take the heat out of the market.
