Stricter measures issued to cool China's property market

 　　BEIJING, March 1 (Xinhua) -- Amid expectations of rising housing prices, China's central government on Friday rolled out specific rules to further tighten¹ control of the property market.

　　The government said in an online notice that homeowners who sell their homes will be levied² an income tax as high as 20 percent of the profit they make on the transaction.

　　Prior to the new rules, income tax was 1 percent to 2 percent of the sale price.

　　The notice said local branches of the central bank in cities with soaring home prices can increase the down payment rate and mortgage loan interest rate for home buyers purchasing a second unit.

　　Non-local families with one home or more, as well as non-local families without a certain amount of years of tax payment certificates or social security payment certificates, will be banned from buying homes in the cities in which they currently reside.

　　The notice also said local governments will be held accountable for curbing⁴ soaring home prices, and asked them to make specific schedules.

　　The central government said it will step up inspections⁵ of provincial-level governments' property market control work. Those who fail to meet their targets will be penalized⁶.

　　The country's major cities, excluding Lhasa, have been asked to set annual price easing targets for newly-built homes and reveal these targets in the first quarter of the year.

　　The notice said China will work to increase land supplies for housing, and the total amount of such land nationwide in 2013 should be greater than, or equal to, the annual average over the last five years.

　　Cities and counties are required to make information on land supplies available to the public and reveal annual land supply plans before the end of March.

　　The notice also asked local governments and related authorities to release authoritative⁷ information on housing construction, trade, home prices and rent in a timely manner. They are also required to refute false information about the property market and punish those who start and spread rumors⁸.

　　According to the notice, local governments should build online information systems on the personal home ownership of urban residents. All major cities must be connected to the system by the end of 2015.

　　Zhang Xu, a market researcher with HomeLink, a leading property broker⁹ firm, said the policies will beef up tax and loan controlling measures and make potential buyers to reconsider their purchase decisions.

　　Li Chang'an, an economics professor at the University of International Business and Economics, said the income tax hike will curb³ second-hand¹⁰ home transactions, but have a limited impact on first home purchases.

　　However, Li also said it will be difficult to determine the profits homeowners make during transactions, as it would be hard to know how much a home cost when it was purchased by the seller.

　　Zhu Zhongyi, vice¹¹ president of the China Real Estate Industry Association, said revealing government policies and market information to the public will help people make rational home purchase decisions.

　　Zhang Dawei, a senior researcher with Centaline Property, said a clear timetable will force local governments to work accordingly and facilitate public supervision¹² over government work.

　　The housing market experienced a short cooling-off period starting in 2010, when tightening¹³ policies like higher down payments and restrictions¹⁴ on third-home purchases were introduced.

　　But the market began to heat up last year after the central government put more emphasis on economic growth.

　　Last December, 54 cities out of a statistical¹⁵ pool of 70 major Chinese cities, recorded higher new home prices than in a month earlier, according to the National Bureau of Statistics. This marked the third consecutive¹⁶ month of such increases.

　　In February, the central government said in a guideline that it will strictly¹⁷ implement¹⁸ and improve housing market tightening measures and ensure that the policies remain steady.

1 tighten   

v.(使)变紧；(使)绷紧

参考例句：

• Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
• Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

2 levied   

征（兵）( levy的过去式和过去分词 )； 索取； 发动（战争）； 征税

参考例句：

• Taxes should be levied more on the rich than on the poor. 向富人征收的税应该比穷人的多。
• Heavy fines were levied on motoring offenders. 违规驾车者会遭到重罚。

3 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

4 curbing   

n.边石，边石的材料v.限制，克制，抑制( curb的现在分词 )

参考例句：

• Progress has been made in curbing inflation. 在控制通货膨胀方面已取得了进展。
• A range of policies have been introduced aimed at curbing inflation. 为了抑制通货膨胀实施了一系列的政策。

5 inspections   

n.检查( inspection的名词复数 )；检验；视察；检阅

参考例句：

• Regular inspections are carried out at the prison. 经常有人来视察这座监狱。
• Government inspections ensure a high degree of uniformity in the standard of service. 政府检查确保了在服务标准方面的高度一致。 来自《简明英汉词典》

6 penalized   

对…予以惩罚( penalize的过去式和过去分词 )； 使处于不利地位

参考例句：

• You will be penalized for poor spelling. 你拼写不好将会受到处罚。
• Team members will be penalized for lateness. 队员迟到要受处罚。

7 authoritative   

adj.有权威的，可相信的；命令式的；官方的

参考例句：

• David speaks in an authoritative tone.大卫以命令的口吻说话。
• Her smile was warm but authoritative.她的笑容很和蔼，同时又透着威严。

8 rumors   

n.传闻( rumor的名词复数 )；[古]名誉；咕哝；[古]喧嚷v.传闻( rumor的第三人称单数 )；[古]名誉；咕哝；[古]喧嚷

参考例句：

• Rumors have it that the school was burned down. 有谣言说学校给烧掉了。 来自《简明英汉词典》
• Rumors of a revolt were afloat. 叛变的谣言四起。 来自《简明英汉词典》

9 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

10 second-hand   

adj.用过的，旧的，二手的

参考例句：

• I got this book by chance at a second-hand bookshop.我赶巧在一家旧书店里买到这本书。
• They will put all these second-hand goods up for sale.他们将把这些旧货全部公开出售。

11 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

12 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

13 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

14 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

15 statistical   

adj.统计的，统计学的

参考例句：

• He showed the price fluctuations in a statistical table.他用统计表显示价格的波动。
• They're making detailed statistical analysis.他们正在做具体的统计分析。

16 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

17 strictly   

adv.严厉地，严格地；严密地

参考例句：

• His doctor is dieting him strictly.他的医生严格规定他的饮食。
• The guests were seated strictly in order of precedence.客人严格按照地位高低就座。

18 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。