• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.48% to 46,565.74 points, the S&P 500 rose 0.72% to 6,575.32 points, and the Nasdaq Composite rose 1.16% to 21,840.95 points. Boeing rose more than 4%, and Caterpillar rose more than 3%, leading the Dow Jones gains. The Wind U.S. Tech Big Seven Index rose 1.13%, with Google rising more than 3% and Tesla rising more than 2%. The Nasdaq China Golden Dragon Index rose 0.31%, with Zai Lab rising more than 8% and Hesai Technology rising more than 7%. 2. All three major European stock indexes closed higher. The German DAX rose 2.73% to 23,298.89 points, the French CAC40 rose 2.1% to 7,981.27 points, and the UK FTSE 100 rose 1.85% to 10,364.79 points. The rapid easing of geopolitical tensions in the Middle East boosted European stock markets and led to a decline in oil prices, alleviating inflationary pressures and energy cost concerns. This provided room for the European Central Bank to adjust its monetary policy and enhanced the attractiveness of risk assets. 3. Most US Treasury yields rose: the 2-year yield rose 1.01 basis points to 3.803%, the 3-year yield rose 1.73 basis points to 3.830%, the 5-year yield rose 1.22 basis points to 3.953%, the 10-year yield rose 0.20 basis points to 4.319%, and the 30-year yield fell 1.33 basis points to 4.899%. 4. The WTI crude oil futures contract closed down 2.44% at $98.91 per barrel; the Brent crude oil futures contract fell 3.59% to $100.24 per barrel. First, market expectations for a US-Iran ceasefire and the withdrawal of US troops from Iran have increased, significantly easing concerns about supply disruptions in the Strait of Hormuz, which had previously supported oil price increases. Second, US crude oil inventories rose far more than expected last week, reaching near-record highs, further pressuring oil prices due to expectations of ample supply. Third, the US plan to release strategic petroleum reserves also put downward pressure on oil prices. 5. International precious metals futures generally closed higher, with COMEX gold futures rising 2.27% to $4784.60 per ounce and COMEX silver futures rising 0.38% to $75.20 per ounce. Crude oil prices retreated from their highs, easing inflationary pressures. Meanwhile, the US dollar index fell for the second consecutive day to around 99.4, making dollar-denominated precious metals more attractive to holders of non-US currencies. 6. London base metals rose across the board. LME lead rose 1.89% to $1,939.0/ton, LME zinc rose 1.77% to $3,283.5/ton, LME aluminum rose 1.75% to $3,527.5/ton, LME tin rose 1.50% to $47,450.0/ton, LME copper rose 1.11% to $12,472.5/ton, and LME nickel rose 1.02% to $17,285.0/ton.Japan Meteorological Agency: Following the earthquake near Indonesia, there may be slight sea level changes along the Japanese coast, but no tsunami is expected.The U.S. tsunami warning system warned that following the earthquake, some coastal areas of Indonesia may experience tsunami waves 0.3 to 1 meter above the tide level.The China Earthquake Networks Center officially reported that a 7.4-magnitude earthquake occurred in the Maluku Strait of Indonesia at 06:48 on April 2, with a focal depth of 30 kilometers.The U.S. tsunami warning system warns that tsunami waves triggered by the earthquake may occur along the coasts of Indonesia, the Philippines, and Malaysia within 1,000 kilometers of the epicenter.

Decision of the Standing Committee of the National People's Congress on authorizing the State Council to carry out pilot projects for real estate tax reform in certain regions

Oct 25, 2021 13:53

Decision of the Standing Committee of the National People's Congress on authorizing the State Council to carry out pilot projects for real estate tax reform in certain regions

(Adopted at the 31st meeting of the Standing Committee of the 13th National People's Congress on October 23, 2021)

In order to actively and steadily advance the legislation and reform of real estate tax, guide reasonable housing consumption and economical and intensive use of land resources, and promote the stable and healthy development of the real estate market, the 31st meeting of the Standing Committee of the 13th National People’s Congress decided to authorize the State Council to Pilot projects for real estate tax reform have been carried out in the region.

1. The real estate tax in the pilot areas is subject to various types of real estate for residential and non-residential use, excluding legally owned rural homesteads and their upper residences. The owners of land use rights and house owners are taxpayers of real estate tax. Non-residential real estate continues to be implemented in accordance with the "Interim Regulations of the People's Republic of China on Real Estate Tax" and "Interim Regulations of the People's Republic of China on Urban Land Use Tax."

2. The State Council formulates specific measures for real estate tax pilot projects, and the people's governments of the pilot regions formulate specific implementation rules. The State Council and its relevant departments and the people's governments of the pilot areas shall establish scientific and feasible expropriation management models and procedures.

3. The State Council shall, in accordance with the principle of proactiveness and prudence, make overall considerations to deepen the pilot and unify legislation, and promote the stable and healthy development of the real estate market, to determine the pilot areas, and report to the Standing Committee of the National People's Congress for the record.

The trial period authorized by this decision is five years, counting from the date of issuance of the State Council’s pilot measures. During the pilot process, the State Council shall sum up the pilot experience in a timely manner, and report the pilot situation to the Standing Committee of the National People’s Congress six months before the expiration of the authorization period. If it is necessary to continue the authorization, it may submit relevant opinions, which shall be decided by the Standing Committee of the National People’s Congress. . When conditions are ripe, enact laws in a timely manner.

This decision will come into effect on the date of promulgation, and the time for the pilot implementation to start will be determined by the State Council.

(Source: Xinhua News Agency)