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China Faces Difficulty Extending Pilot Property Tax -Senior Official
- Qin Hong, a deputy director at the housing ministry said that China will have a difficult time expanding a pilot property tax across the nation
- China started a property tax on a pilot basis as part of efforts to rein in speculation and housing inflation
- Many properties are exempted from the tax and in the face of significant public resistance, raising questions about the effectiveness of the new tax
- "The property tax involves different parts of the society and has a complex impact on public interests, and that, along with the lack of a tax collection regime and the high cost of doing it, make it very hard to expand the tax nationwide," Qin Hong
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