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Why China’s property tax plan is a key pillar in its ‘common prosperity’ drive

Summary:
[unable to retrieve full-text content]China’s plan to introduce property taxes for unspecified regions over the next five years has ignited debate across the country, with some saying it could decimate local government revenue and shift investment preferences, while others hope it will help first homebuyers.Property taxes are not new to China, with a levy on commercial buildings introduced in 1986 and limited residential taxes rolled out in Chongqing and Shanghai in 2011. But analysts say Beijing’s “common prosperity” goal, which…

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[unable to retrieve full-text content]
China’s plan to introduce property taxes for unspecified regions over the next five years has ignited debate across the country, with some saying it could decimate local government revenue and shift investment preferences, while others hope it will help first homebuyers.Property taxes are not new to China, with a levy on commercial buildings introduced in 1986 and limited residential taxes rolled out in Chongqing and Shanghai in 2011. But analysts say Beijing’s “common prosperity” goal, which…

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