China: State Council Spells out Consumption Policies for 2010

The State Council meeting yesterday spelled out eight consumption policies in 2010. Most of them are in line with market expectations. But two changes can be viewed as negative by the market or some market participants: an effective increase in the auto purchase tax by 2.5ppts, and the resumption of the business tax for sales of properties held for less than 5 years from 2010.

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Published In: Administrative Agency Updates, Residential Real Estate Updates, Tax Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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