China closes divorce tax loophole, and now everyone's back in love

Love is in the air in China - tens of thousands of divorced couples are reconciling their pasts and reuniting in the bond of marriage (after the tax breaks for being split up were cut off).

Thanks to a loophole in a 2013 law, for the past couple of years, getting divorced was a wise investment. If a couple sold property, then they had to pay a 20 percent tax on the earnings - but if a divorced man or woman did it, they could sell the property tax-free, even if they remarried after the sale.

Well, after years of skyrocketing divorce rates, the party is over. In Nanjing alone, some 25,000 divorced couples (so 50,000 people) have gotten back together following the loophole's closure - 30 percent of all marriages in the city were between people who were formerly married... to each other.

And the remarriages are only expected to rise - in 2015 and 2016, China Daily estimates that more and more divorced couples will retie the knot following their sham divorces.

In Shanghai, the divorce rate has dropped by 12 percent - a mighty tumble considering it's the first drop in rate in five years.

True love is on the rise. It might be a love of cash, but it's love nonetheless.