Beijing, Shanghai, Guangzhou and Shenzhen cancel the standard of ordinary house and non-ordinary house

On November 22nd, the Ministry of Finance and other three departments recently issued the "Announcement on Tax Policies for Promoting the Stable and Healthy Development of the Real Estate Market", which clarified the preferential policies for value-added tax and land value-added tax linked to the cancellation of ordinary residential and non-ordinary residential standards. In this context, Shanghai, Beijing, Shenzhen and Guangzhou have recently announced the cancellation of ordinary residential and non-ordinary residential standards.