Watch VideoPlay Video
Some Chinese experts are calling for the government to offer a timetable, for the launch of a residential property tax.
Qin Hong, a vice director at the policy research center of the Ministry of Housing and Urban-Rural Development, said the government needs to pick the right time to introduce the tax. She suggested the government give the timetable as soon as possible, so the market has enough time to digest the news and avoid volatility.
The State Council expressed in late May its support for a new form of annual property tax, expected to be targeted at multiple home-owners. But talks of such a tax have dwindled, amid increasing uncertainties about the strength of the global economic recovery.