| Starting from mid-February till the end of this year, home buyers in China’s third-tier city of Shaoxing in Zhejiang province will be given a tax refund from the local government of at least 0.8 per cent of the deal price. It is part of the mainland’s nationwide effort to sell down record high housing inventory, an issue that is especially acute in small cities, where demand seems to have stalled amid a slowing economy. SCMP |
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