ANL 10.45 Decreased By ▼ -0.51 (-4.65%)
ASC 9.81 Decreased By ▼ -0.24 (-2.39%)
ASL 11.65 Decreased By ▼ -0.40 (-3.32%)
AVN 69.36 Decreased By ▼ -1.74 (-2.45%)
BOP 5.94 Decreased By ▼ -0.06 (-1%)
CNERGY 5.15 Decreased By ▼ -0.12 (-2.28%)
FFL 6.95 Decreased By ▼ -0.20 (-2.8%)
FNEL 5.98 Decreased By ▼ -0.17 (-2.76%)
GGGL 11.29 Decreased By ▼ -0.46 (-3.91%)
GGL 15.13 Decreased By ▼ -0.72 (-4.54%)
GTECH 8.80 Decreased By ▼ -0.50 (-5.38%)
HUMNL 6.27 Decreased By ▼ -0.34 (-5.14%)
KEL 2.49 Decreased By ▼ -0.06 (-2.35%)
KOSM 2.84 Decreased By ▼ -0.22 (-7.19%)
MLCF 27.61 Decreased By ▼ -0.99 (-3.46%)
PACE 3.05 Increased By ▲ 0.07 (2.35%)
PIBTL 5.95 Decreased By ▼ -0.09 (-1.49%)
PRL 15.33 Decreased By ▼ -0.33 (-2.11%)
PTC 7.30 No Change ▼ 0.00 (0%)
SILK 1.33 Increased By ▲ 0.02 (1.53%)
SNGP 25.81 Decreased By ▼ -0.69 (-2.6%)
TELE 10.25 Decreased By ▼ -0.57 (-5.27%)
TPL 8.67 Decreased By ▼ -0.36 (-3.99%)
TPLP 15.09 Decreased By ▼ -0.76 (-4.79%)
TREET 28.60 Decreased By ▼ -1.30 (-4.35%)
TRG 74.70 Decreased By ▼ -1.00 (-1.32%)
UNITY 22.19 Decreased By ▼ -0.23 (-1.03%)
WAVES 13.05 Decreased By ▼ -0.45 (-3.33%)
WTL 1.50 Decreased By ▼ -0.12 (-7.41%)
YOUW 4.81 Decreased By ▼ -0.21 (-4.18%)
BR100 4,203 Decreased By -77.5 (-1.81%)
BR30 14,553 Decreased By -356.9 (-2.39%)
KSE100 42,440 Decreased By -660.5 (-1.53%)
KSE30 16,093 Decreased By -274.2 (-1.68%)

SHANGHAI: Chinese finance minister Liu Kun has called for deeper reforms to the country's property tax regime in a bid to strengthen demand-side management and stabilise the real estate market, the state-run Securities Times newspaper reported on Wednesday.

China's property market has been a key driver of the country's economic growth, but it has been hit this year by tighter regulations and a liquidity crisis that has put giant debt-ridden developers in jeopardy.

A new nationwide property tax has been proposed as part of efforts to curb speculative purchases. China's cabinet, the State Council, is currently deciding which regions will be the first to introduce pilot reforms.

Liu, speaking at a parliamentary standing committee meeting, said more work on pilot regional tax reforms was still required before new national legislation was rolled out, the Securities Times reported.

The specific pilot policies and locations would be decided in due course and the trial reform period is set to last five years, he was quoted as saying.

Liu also said prudence would continue to prevail, with efforts to minimise the negative impact of reforms on poorer rural regions.

Comments

Comments are closed.