China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter.

Regulators are working on a proposal that would allow mega cities including Shanghai and Beijing to cut the deed tax for buyers to as low as 1% from a current level of as much as 3%, the people said,

China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter. Regulators are working on a proposal that would allow mega cities including Shanghai and Beijing to cut the deed tax for buyers to as low as 1% from a current level of as much as 3%,

China is cutting taxes for home purchases, as the government tries to put a floor under falling prices and sustain an improvement in housing transactions.

China is looking to slash taxes on home purchases as the government strengthens fiscal support for its ailing real estate sector, a media report said on Tuesday.