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MNI BRIEF: Local Govs To Use Bonds For Unsold Houses - MOF

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MNI (BEIJING) - China will allow local authorities to fund their purchases of unsold homes for affordable housing with special-bond proceeds to help support the real-estate market, Vice Finance Minister Liao Min told reporters on Saturday.

The subsidy funds of affordable housing projects, which previously supported new construction of such housing, can also be used for acquisition to help rebalance supply-demand in the market, said Liao, adding the Ministry will optimise relevant tax policies to stabilise the market.

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MNI (BEIJING) - China will allow local authorities to fund their purchases of unsold homes for affordable housing with special-bond proceeds to help support the real-estate market, Vice Finance Minister Liao Min told reporters on Saturday.

The subsidy funds of affordable housing projects, which previously supported new construction of such housing, can also be used for acquisition to help rebalance supply-demand in the market, said Liao, adding the Ministry will optimise relevant tax policies to stabilise the market.

Keep reading...Show less