Another Month High for China Shares

Filed in archive Investments on July 24, 2010

© artemuestra

Another one-month high was concluded for China's shares as they rose for the fourth consecutive session. The property development sector led China's share rise as it was suggested that China will postpone its release of a real-estate tax, according to a recent media report.

NetEase, a financial news website, published a report asserting that China's finance ministry is not planning to levy a real estate tax on home owners in some Chinese cities until 2012. The report increased the confidence of several investors although it did not include cited sources. Investors had been expecting that the Chinese central bank would release a trail tax in late 2010 in cities where the prices of property have been increasing too quickly. The Chinese government has not yet confirmed the report, although this could mean that the government won't tighten property measures any time soon.