China's Chongqing, Shanghai launch property tax to cool housing market (3)

08:12, January 28, 2011      

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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/Yang Lei)



File photo taken on July. 23, 2010 shows the bird's eye view of downtown Chongqing, southwest China's 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/Yang Lei)


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http://english.people.com.cn/90001/90776/90882/7274860.pdf