Latest RE Bailout: Shaoxing Offers Subsidies

City residents in Shaoxing, Zhejiang who buy a home can receive a subsidy worth 0.8% of the purchase price, in effect a tax credit to offset taxes associated with the purchase.

These types of rebates/subsidies have been used in many cities and provinces as part of bailout efforts.

iFeng: 浙江绍兴出台刺激楼市新政：市民买房补贴0.8%