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Yangzhou boosts property

17 May 2012

On May 7, the government of Yangzhou, a municipality in Jiangsu province, announced that it will reward citizens who purchase fully furnished housing within a year from July 1 with 0.4% to 0.6% of the housing contract price according to the size of the house. The policy was the latest in a series of housing plans issued by local governments to help local real estate. Many such initiatives by local governments have subsequently been blocked by the central government, but Yangzhou has so far escaped sanction and an official at the Ministry of Housing said there will not be any action against the city.

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