Average house prices across China are rising at an annual rate of 8%, with double-digit gains in some cities, such as Shenzhen and Beijing.

ECONOMIST: China's economy

As labor costs in the industrial centers such as Shenzhen and Shanghai increase, the solutions are increased automation and also to move factories to the interior of the country, i.e.

FORBES: Characteristics Of The New China

Tong Liqiang, executive vice president of Beijing's Internet information office, said the regulation could be replicated in other municipalities, such as in Shenzhen, where Sina's main rival Tencent is based.

WSJ: Beijing Orders Microbloggers to Register

Property transactions by floor space in some major cities, such as Beijing, Shenzhen, Hangzhou, Nanjing and Chongqing rose in May from a year earlier, according to statistics from data provider China Real Estate Information Corp.

WSJ: China Steps Up Support for Parts of Housing Market

Prices of newly built homes in major cities such as Beijing, Shanghai, Shenzhen and Guangzhou were marginally lower compared with November, the statistics bureau's statement said.

WSJ: China Sees Drop in Property Prices

Last year reports in the state-controlled press suggested that Beijing and Shenzhen, as well as Chongqing and Shanghai, would be among the first cities to introduce such taxes.

ECONOMIST: China's property market