US real estate Chinese concept stocks rose sharply before the market, fangdd network surged over 22%, ke holdings surged over 9%. Earlier, the Ministry of Finance and two other departments issued a notice on tax policies related to promoting the stable and healthy development of the real estate market, with a unified 1% tax rate for the sole and second residences not exceeding 140 square meters, and exemption from VAT after holding city residential properties for more than 2 years following the cancellation of the standard for ordinary residential properties.