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Chinanews, Guangzhou, December 8 – According to Qin Hong, vice1 director of the Policy Research Center of the Ministry2 of Construction, China is not planning to collect property tax in the near future.
Qin revealed this information at the forum3 at Zhuhai Property Expo on December 7. The focus of property market in China is circulation rather than possession, thus heavy property tax will only harm the industry. “Since China has just composed a relatively4 complete property market, it will take us some time to improve laws and regulations on this subject to ensure satisfactory housing for the general public, ”said Qin.
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