After winning approval from the State Council, yesterday, the Chongqing and Shanghai governments announced the launch of a property tax to tackle inflating housing prices that takes effect as of today.
The Beijing government plans to clear out the air raid shelters and cellars currently being used for low-rent housing under Dongcheng, Xicheng, Chaoyang and Fengtai districts.
A reporter from the EO has learned that Geely Holding Group is negotiating with Foxconn to jointly develop electric cars, challenging BYD, China's leading manufacturer of battery-powered cars.