China's tax on property profits spurs sales, may generate resistance

03/5/2013 | Wall Street Journal, The

The Chinese government's newly affirmed intention to enforce a 20% tax on profits from property sales in a bid to tame the overheating market is spurring a rush to sell. Authorities acknowledge the action may briefly produce the opposite of the intended effect and raise prices. But critics also note that local governments, which make a lot of money off land sales, may resist as they hope to keep prices high.

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Wall Street Journal, The

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