China Plans Stricter Curbs, Higher Taxes on Land Use – Zheng Xiaolu and J.R. Wu

From The Wall Street Journal:

China will place stricter curbs on and raise related taxes and fees for land used in construction, as part of its latest tightening efforts to correct imbalances in the economy’s rapid growth.

The guidelines issued yesterday by the State Council, China’s highest executive body, aim to strengthen macro-controls on land.

Some new problems have emerged in land management, such as an overly rapid growth in the amount of land being used for construction, excessive expansion of low-cost land for industrial use, and irregular and illegal use of land, the guidelines said.[Full Text and Subscribors Only]

See previous CDT post Steps taken to cool property market

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