Chongqing, Shanghai launch property tax to cool housing market
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Photo taken on Jan. 21, 2011 shows a U-turn sign in front of a high-class residential area in southwest China's Chongqing Municipality. The State Council, China's cabinet, has approved on a trial basis the launch of property tax reforms in some cities. Shanghai and Chongqing are cities that will trial the tax first. Chongqing sets its property tax rate at 0.5 to 1.2 percent. [Xinhua] |
![Photo taken on Jan. 21, 2011 shows a U-turn sign in front of a high-class residential area in southwest China's Chongqing Municipality. The State Council, China's cabinet, has approved on a trial basis the launch of property tax reforms in some cities. Shanghai and Chongqing are cities that will trial the tax first. Chongqing sets its property tax rate at 0.5 to 1.2 percent. [Xinhua]](http://images.china.cn/attachement/jpg/site1007/20110128/000bcdb95f1d0eac679d4d.jpg "Photo taken on Jan. 21, 2011 shows a U-turn sign in front of a high-class residential area in southwest China's Chongqing Municipality. The State Council, China's cabinet, has approved on a trial basis the launch of property tax reforms in some cities. Shanghai and Chongqing are cities that will trial the tax first. Chongqing sets its property tax rate at 0.5 to 1.2 percent. [Xinhua]")
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