China government pockets half of real estate company spending
Land purchases and tax accounted for 49.42% of the total spending of real estate companies in nine domestic cities in 2008, reports a speech by the All-China Federation of Industry & Commerce (ACFIC) at the Chinese People’s Political Consultative Conference (CPPCC). Land purchases made up 58.2% of direct costs, while tax accounted for 26.06% of [...]
