From the Morning Whistle:
The State Council’s property inspection team criticized several provinces for not “strictly” implementing property control policies, although measures in most cities “more or less” meet Beijing’s requirement, the Shanghai Securities News said, citing a source close to the surveillance team.
China may set new property controls as early as this month after the central government’s inspection team returns to Beijing and the government has some room to impose new curbs if necessary, including raising the transaction tax on existing homes and expanding a property tax trial, the source said.
The policies will be based on inspection results and likely be this month as the government may want to avoid the traditional property sales season in September and October, the China Securities Journal reported.
The State Council appointed 8 groups to monitor property industry over the past two weeks, as local governments have been reported going against central government’s property restriction policies facing the pressure of decrease in land transferring fees.
Just one day before this decision, media reported that Nanjing municipal government has launced incentive policy to spur home sales.
Of the 16 provinces visited by the panel, three – Hunan, Hubei and Hebei – were asked to promptly impose “corrective measures” as local home prices look likely to rebound.
