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How Tax Could Break China’s Property Sector: SCMP

The policy will not take immediate effect – Beijing will first carry out pilot schemes in selected areas for the next five years


Property tax
Apartment blocks fill the skyline of a Beijing suburb. Photo: Reuters

 

After China announced plans to roll out a nationwide property tax to help address wealth inequality, concerns were raised that it would become the last straw to break the back of the beleaguered real estate sector, the South China Morning Post reported.

But the policy will not take immediate effect – China will first carry out pilot schemes for the next five years in several selected cities, and while it is highly likely it will happen, the “when factor” has become increasingly important.

Read the full report: South China Morning Post

 


 

READ MORE:

China Property Shares Drop On Tax Worry, Signs of Weakness

China Property Hit By Convergence Of Demand, Supply Declines

 

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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