According to Xinhua News Agency, Beijing, Dec. 3, the Chinese Academy of Social Sciences released on the 3rd of China's housing development report 2015 ~ 2016, said China's housing market is from the era of incremental to the era of the transition of the stock, the housing policy should be from the original overemphasis on the role of the housing market as a pillar of the economy to a moderate emphasis on the orientation of the housing people's livelihoods, it is recommended that the introduction of the mortgage Loan interest deductible personal income tax policy to reduce the burden of home purchase repayment.

The report was completed by the Institute of Financial and Economic Strategies of the Chinese Academy of Social Sciences and the Urban and Competitiveness Research Center of the Chinese Academy of Social Sciences***. The report suggests that the introduction of mortgage interest deduction personal income tax policy to reduce the burden of home purchase repayment, to achieve the dual goals of home ownership and wealth to the people. Provide home purchase subsidies and interest subsidies for resident families purchasing their first set of ordinary commercial housing. Increase the coverage of the provident fund, reform the provident fund collection and credit system, reduce the interest rate of provident fund loans, so that more families can obtain low-interest home purchase loans.

Meanwhile, it is proposed to reduce or waive taxes and fees on general commercial housing transactions to promote free movement and improved living conditions. Specific measures include: expanding the deed tax concessions, all general commodity housing deed tax is charged at a preferential rate of 1%; cancel the two-year limit, all general commodity housing transactions are exempt from sales tax; cancel the five-year and only living room restrictions, all the sale of general commodity housing income are exempt from personal income tax; for the sale of a buy one of the demand for housing exchange in addition to tax relief, but also to give a moderate financial subsidies.