Chinese Real Estate Stocks Surge Following Tax Policy Announcement

Nov 13, 2024

Chinese real estate stocks in the U.S. market experienced notable gains. Fangdd Network Group Ltd (DUO) surged by 20%, while KE Holdings Inc (BEKE, Financial) saw an increase of over 8% in pre-market trading.

The boost in stock prices follows an announcement from the Ministry of Finance, State Administration of Taxation, and Ministry of Housing and Urban-Rural Development regarding new tax policies aimed at promoting stable and healthy development in the real estate market. The policy reduces the deed tax rate to 1% for individuals purchasing their family's sole residence if the area is 140 square meters or less. For homes larger than 140 square meters, the deed tax rate is reduced to 1.5%.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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