August 29 – The National Development and Reform Commission and Ministry of Finance proposed to the National People's Congress, China's legislature, that property tax be extended to more cities as government revenue is under great pressure while property prices look set to rebound. Property tax was levied as a pilot program in Shanghai and Chongqing in 2011.
August 28 – The Beijing city government's proceeds from land auctions have exceeded 100 billion yuan so far this year, the third time it broke that mark, according to the local land authority. The amount is expected to go beyond the 162.4 billion yuan record seen in 2010.
August 27 – Some local governments are planning to raise benchmark land prices as they are preparing to repay maturing debts, the China Securities Journal reported. Proceeds from land auctions form the majority of local government revenues in China.
August 23 – Some banks in Guangdong province have suspended lending to individual homebuyers, and those still offering mortgages have increased the rates, the Securities Times reported. In fact, quite a few banks across the nation have halted the 15% mortgage discount against the benchmark rate since the cash crunch struck in late June.
August 21 – Shanghai's proceeds from land auctions totaled 102 billion yuan in the year through mid August, and are expected to hit 150 billion yuan for the full year, according to the China Index Academy. The amount set a record high 152 billion yuan in 2010.
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