New tax alarms China housing market
New government policy to impose capital gains tax driving China’s real estate market into frenzy.
Published On 31 Mar 2013
Thousands of people in China are rushing to either buy or sell their properties.
They are trying to avoid a new capital gains tax, which is expected to go into effect next month.
It is part of government measures to cool down China’s booming property market.
Al Jazeera’s Rob McBride reports from Hong Kong.
Source: Al Jazeera