China rolls out more support for property sector and stock market
Authorities cut stamp duty on stock trades for first time since 2008 and relax home-buying rules
Chinese authorities eased home purchase rules and cut the stamp duty on stock trading, in their latest bid to revive a faltering economy.
On August 25, the People’s Bank of China, the National Administration of Financial Regulation and the housing ministry said lenders should treat people without a house in their names as first-time homebuyers. This is regardless of whether they have ever had a mortgage, the authorities said in a notice.
Local governments can have leeway on whether to adopt
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