China Will Not Expand Its Property Tax Trial This Year
- Government see ‘no condition’ to expand trial after study
- Economy faces pressures from property rout, Coronavirus
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China will not expand a trial on property taxes this year amid a housing market slump and growing pressure on the world’s second-largest economy from a renewed virus outbreak and geopolitical turmoil.
There are no conditions to expand the property tax reform pilot program within this year after considering all aspects, Xinhua News Agency reported, citing an unidentified Finance Ministry official. Some cities have carried out investigations on the tax trial after the country’s top legislative body approved the reform plan, the official said, according to Xinhua.