China may postpone property tax expansion
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China might postpone the expansion of the property tax pilot program, the China Securities Journal reported Friday, citing an anonymous source.
The source said that due to many technical difficulties and other issues, the current property tax pilot program may be difficult to push forward in the near term.
China's skyrocketing housing prices have fueled calls for expansion of the property tax policy, which is expected to curb the number of homes investors can buy.
But so far, the pilot property tax policy has been limited to Shanghai and Chongqing. Opponents said the tax lacks legal bases and could hurt ordinary homeowners who do not buy property for speculation activities.
Meanwhile, a media report this week said that Beijing will begin to levy property tax this year. The report has not been confirmed by Beijing's government.
