China unveils tax incentives to revive struggling property sector

Move adds to raft of stimulus measures to shore up world's No. 2 economy

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Residential buildings are pictured in Shanghai in late September. © Reuters

BEIJING (Reuters) -- China unveiled tax incentives on home and land transactions on Wednesday, aiming to support the crisis-hit property market by increasing demand and easing developers' financial difficulties.

A finance ministry statement outlining the measures followed pledges by the finance minister to issue relevant tax policies to support the healthy development of the property market in the near term.

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