Bila China terus membiarkan Yuan terlalu lemah padahal cadangan devisanya demikian besar, tidak mustahil China bisa dianggap melakukan manipulasi moneter.
http://www.bloomberg.com/apps/news?pid=20601110&sid=am1HqmzOLC3o China Squeezes Property Speculators With Tougher Tax Penalty By Bloomberg News Dec. 9 (Bloomberg) -- China issued policies to curb speculation in the nation’s property market after home prices rose at the fastest pace in more than a year. The government will impose a sales tax on homes sold within five years of their purchase, increasing the time period covered by the charge from two years, according to a statement posted on the Web site of the State Council, the nation’s cabinet. A record $1.3 trillion of bank lending that helped revive Chinese economic growth to 8.9 percent in the third quarter has also fueled concerns of a bubble in the nation’s property market. Home price in 70 major Chinese cities climbed at the fastest pace in 14 months in October, according to government data. “The Chinese central government wants to gradually control the bubble in the real estate market,” said Andy Xie, former Morgan Stanley chief Asian economist. China’s economy still faces many difficulties and challenges next year, today’s State Council statement said. The nation needs to continue expanding the role of consumption in driving economic growth, according to the notice, issued after a meeting chaired by Premier Wen Jiabao. The government will also scale back preferential tax rates offered for purchases of vehicles with engines of 1.6 liters or smaller, according to the statement. China halved the tax to 5 percent this year. Next year the rate will rise to 7.5 percent, the statement said. Alternative Energy China will pick five cities for trials of subsidies designed to encourage individuals to buy alternative energy and energy efficient cars, the State Council said. The government will increase automobile trade-in subsidies of between 5,000 yuan ($732) and 18,000 yuan, according to the statement. “The government is refining its policy to promote domestic consumption,” said Jun Ma, Deutsche Bank AG’s Hong Kong-based chief economist for Greater China. The government will also extend subsidies for purchases of automobiles, appliances and farming equipment in rural areas, according to the statement, which didn’t give a time frame for the program. China will continue appliance trade-in subsidies beyond May 2010, when it was previously set to expire. Subsidies for motorcycle purchases will be extended to the end of January 2013, the State Council said. Today’s announcement comes after the central government held its annual economic work meeting to plan policies for the coming year. The government said it will add flexibility to some monetary economic policies next year and rein in new investment projects after the conclusion of the meetings on Dec. 7 Tax Cuts China reduced taxes on home sales in December 2008 in a bid to prevent a property market slump amid the worst financial crisis since the Great Depression. The government in November 2008 announced a $586 billion stimulus package to bolster economic growth as the global recession sapped demand for the nation’s exports. China will curb “speculative” home purchases, the official Xinhua News Agency reported earlier today, citing National Development and Reform Commission Chairman Zhang Ping. “The reinstatement of the property tax period to five years is an early signal that the government is concerned about speculative demand in the property market,” Deutsche’s Ma said. Last Updated: December 9, 2009 07:54 EST [Non-text portions of this message have been removed]
