China Puts Property Tax Pilot Expansion on Hold to Ease Market Jitters

What’s new: China will not expand the pilot property tax trial this year, putting on hold a real estate reform that could burden local property markets and add to liquidity pressure on developers.

Although some cities have carried out investigations and preliminary research for the program, the conditions for expanding the pilot cities for the property tax reform “are not available this year considering all aspects of the situation,” according to a report by the state-run Xinhua News Agency, which cited the Ministry of Finance.