Analysis: President faces an uphill battle to undo a system that has led to a bloated property sector
Xi Jinping’s to-do list has seen a lot of ticks in recent months: more flights into Taiwan’s defence zone; suppressing dissenting voices in Hong Kong; clipping the wings of tech barons; outlawing the out-of-school tutoring industry. The list goes on.
However, one key initiative – introducing a local property tax – has attracted fewer headlines but is apparently so controversial within China’s ruling Communist party that even Xi is still only able to deal in trial schemes rather than wholesale change.
Continue reading...source https://www.theguardian.com/world/2021/nov/05/speculation-nation-can-xi-jinpings-property-tax-deflate-chinas-housing-bubble
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