戴德梁行天津2007年第一季度房地产市场报告.pdfVIP

Overview TThe economyhe economy Tianjin’s economy went smoothly from January to February 2007. 20071-2656 Total GDP for the period reached RMB65.6 billion, up by 13.5% 13.5 13.511.5 compared with the same period last year. FDI utilised amounted to US$1.35 billion, up by 11.5% compared with the same period 20073192007 last year. 101, The Property Law was released on 19 March 2007, and will come into effect from 1 October 2007. The Law specifies that when the land use term of residential land comes to its end, it will be extended automatically. Although some questions, such as how to implement 25% the law and how to settle relevant fees, are yet to be solved by the authorities, the law to a great extent guarantees the property rights of the individuals. 3180.27 6.12%6.39% Also in this quarter, the new Enterprise Income Tax Law was approved by the National People’s Congress, which standardised the tax rates for both domestic and oversea enterprises to 25%. A grace period was also offered to those oversea firms which have been enjoying preferential rates. On 18 March, the Central Bank adjusted the prime interest rate by 0.27%. The prime lending rate was raised from 6.12% to 6.39%. Table 1: Key economic indicators Indicator Period Unit Value Change year-on-year