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China property: tax authorities’ enhanced oversight of land-sale revenue seen as ‘mixed bag’, and runaway prices may drop

Summary:
[unable to retrieve full-text content]A new plan that will require land-sale revenue in China to be paid to and managed by tax authorities rather than local-level land departments will be a “mixed bag for China property”, according to analysts, as Beijing moves to stabilise runaway home prices and defuse local financial risks.The revamped collection method, which will allow central authorities to better trace the flow of funds, will be rolled out in a pilot programme from July 1 in seven regions, including Shanghai, Inner Mongolia,…

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[unable to retrieve full-text content]
A new plan that will require land-sale revenue in China to be paid to and managed by tax authorities rather than local-level land departments will be a “mixed bag for China property”, according to analysts, as Beijing moves to stabilise runaway home prices and defuse local financial risks.The revamped collection method, which will allow central authorities to better trace the flow of funds, will be rolled out in a pilot programme from July 1 in seven regions, including Shanghai, Inner Mongolia,…

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