Bloomberg China said a bill for a property tax is being drafted, moving a step closer to a levy that could help tame runaway home prices. Officials are working on the measure, Vice Finance Minister Shi Yaobin said in a briefing in Beijing during the annual meeting of the National People’s Congress. Former Finance Minister Lou Jiwei told reporters that ...

Bloomberg The international jewellery business that’s part of the empire controlled by Nirav Modi, the billionaire accused of masterminding India’s biggest bank fraud, was driven towards US bankruptcy protection after Indian authorities began seizing and freezing assets. The company’s attorney outlined that background at a Manhattan federal bankruptcy court hearing. Modi, the chief executive officer of the parent company of ...

Bloomberg The world’s biggest labour market will soon get its first regularly updated monthly jobless rate similar to closely-watched gauges in other major economies like the US and Europe. Monthly updates of China’s survey-based urban unemployment rate will be released from April, the country’s National Bureau of Statistics said. Until now, the only regular official unemployment rate has been a ...