China to Delay Property Tax After Government Disputes, Century Weekly Says
China may delay a property tax following disputes among government departments, the Century Weekly magazine reported, citing an unnamed person close to the Ministry of Finance and state tax bureau. Real estate stocks climbed the most in two weeks.
China has pledged to speed up testing the property taxes to curb foreign capital and cool home prices. Some analysts expected Shanghai to begin a trial at the start of 2011, the Oriental Morning Post reported today
Chinese developer stocks surged on the news/rumors.