Analysts say medium-to-long term investment prospects for private Chinese property developers are unconvincing. Photo: Handout

China might step up the process of introducing property tax as it was mentioned for the third time in the government work report, ThePaper reported.

According to China’s government work report for this year, the authorities will “steadily push forward property tax legislation,” while the wording in the 2018 report was “prudently,” it said.

Unidentified industry insiders were quoted as saying that it reflected the government’s intention to step up the process.

Liu Jianwen, a professor of law in Peking University, forecasted in January that the property tax legislation proposal may be submitted to the Standing Committee of the National People’s Congress for review in 2019, the report said.

However, Centaline Property’s chief analyst, Zhang Dawei, was quoted as saying, given the long legislation process, there’s a relatively small possibility for property tax to be formally introduced within the next three years.

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