Lan Foan: Relevant tax policies to support the healthy development of the real estate market have been submitted for approval according to procedures

On November 8th, Minister of Finance Lan Foan introduced at a press conference that at present, the relevant tax policies to support the healthy development of the real estate market have been submitted for approval according to the procedures and will be launched in the near future. The work of implicit debt replacement will start immediately. The issuance of special government bonds to supplement the core first-level capital of large state-owned commercial banks is being accelerated. In terms of special projects to support the recovery of idle stock land, new land reserves, and the acquisition of stock commercial housing for affordable housing, the Ministry of Finance is cooperating with relevant departments to study and formulate policy details to promote the implementation.