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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Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.

Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.