China's nationwide property tax plan set for further delay

Long-awaited rollout likely postponed again amid real estate slump

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China's housing market has been in crisis since mid-2021, casting a shadow over the world's No. 2 economy. © Reuters

ZHANG YUKUN and CHENG SIWEI, Caixin

The Chinese government's long-awaited rollout of a controversial property tax looks set to be delayed yet again, as a law that would provide a legal basis for the levy is missing from the latest legislative program of the National People's Congress (NPC) published last week.

The agenda, released by the state-run Xinhua News Agency, is a five-year work plan for the standing committee of the NPC, China's top legislative body. It lists 130 laws and amendments that are in the works, including a financial stability law, along with a number of areas the committee will study for future legislation, including the regulation of nontax fiscal income and government debt.

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