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China to provide tax relief for new REITs

BEIJING : China will provide tax relief for new actual property funding trusts (REITs), the finance ministry and tax bureau stated on Saturday, as a part of a nationwide push to increase the nascent REITs market.

Corporate tax associated to asset transfers might be exempted earlier than the REITs are arrange and could be deferred throughout the setup course of, they stated in a press release.

China launched a public REITs market China makes REITs push to pace up infrastructure funding in Shanghai and Shenzhen in June, permitting infrastructure initiatives – starting from tollways to sewage vegetation – to be listed as a part of an effort to ease the debt burden on native governments.

(Reporting by Yew Lun Tian; Editing by William Mallard)

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