Chinanews, Guangzhou, December 8 – According to Qin Hong, vice director of the Policy Research Center of the Ministry of Construction, China is not planning to collect property tax in the near future.

 

Qin revealed this information at the forum 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 relatively 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.