High-rise residential and commercial buildings in Chongqing municipality on Saturday, August 25, 2018. Photo: SCMP/Simon Song

China sounds a clarion call for a property tax, causing real estate stocks to slump, even if the legal basis for the tax is years away

  • The legislation for property taxes has been listed on National People’s Congress work agenda since 2015, but so far no draft has been proposed, thus little detail is known
  • Detail matters because a property tax could be toothless if a large exemption area is set, and the tax rate is low, analysts said
Topic |   Property policies

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High-rise residential and commercial buildings in Chongqing municipality on Saturday, August 25, 2018. Photo: SCMP/Simon Song
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