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Top legislator’s remarks spark stronger expectation for property tax

It's been murmured for years that China will introduce a property tax, which will be a huge negative for the real estate sector which is already cooling down under long-running government restrictions. Recent remarks made by the country's top legislator have spurred higher expectations.

China will “focus energy” on drafting more than a dozen major pieces of legislation this year, including a property tax law, said Li Zhanshu, chairman of the Standing Committee of National People’s Congress (NPC) at a news conference on the sidelines of the annual gathering of the top legislature.

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