From the chinese press

Reduce land transfer fees

If the increase in land transfer fees and administrative charges are shifted to homebuyers, the government should reduce them to ease the burden on the public, says an article in Guangzhou Daily. Excerpts:

Land transfer fees and administrative charges reportedly account for almost half the cost of a house, making local governments one of the largest beneficiaries of the country's over-heated real estate market. It is difficult to regulate the property market because local governments earn almost half their revenue from transfer of land-use rights.