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Caixin

China accelerates push for nationwide property tax

Levy expected to incentivize local governments to sell more land-use rights

China's home prices in April grew at the fastest pace in eight months.   © Reuters

China is accelerating long-discussed plans to roll out a nationwide property tax. Experts say such a tax could be tested by the end of this year in some first- and second-tier cities that have hot real estate markets, most likely Shenzhen and the southern island province Hainan.

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