Reuters: China omits property tax from 2021 legislative agenda
Mon March, 2021, Age: 3 years
For the second consecutive year, China made no mention of a property tax in the 2021 legislative plan released Monday. The government’s primary focus appears to be in bolstering consumer consumption to ensure a swift economic recovery from the coronavirus pandemic. “As China’s economic recovery still faces pressure from various uncertainties including the United States’ stimulus and a resurgence of the epidemic, policymakers attach greater importance to the stability of the real estate market,” said Lu Wenxi, chief analyst for the property agency Centaline. This may well do little to quell fears of China’s speculative real estate market.