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Xi Jinping is betting that he can start reforming China's property market now and be able to chalk it up as an achievement at next year's party national congress. (Source photos by AP and Reuters) 
China up close

Analysis: Xi's new tax threatens China's invincible housing market

Only those who understood politics knew they had to sell

KATSUJI NAKAZAWA, Nikkei senior staff writer | China

Katsuji Nakazawa is a Tokyo-based senior staff writer and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

A long-held belief in China is that as long as the Communist Party stays in power, housing prices will continue to rise. Ordinary Chinese, however, are now debating whether this conviction is about to be turned upside down.

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