发表时间：2018-04-12 15:13 来源：金库网 作者：听外媒聊金融
After years of delay and quiet opposition from vested interests, China will push ahead with a property tax that is viewed as crucial to taming the country’s housing bubble.
House prices in major Chinese cities are among the highest in the world in terms of price-income ratios, with speculative demand from Chinese investors — who see few other good places to park their savings — as a major driver. The result is an estimated 50m empty homes, according to a broad survey by researchers from Southwestern University of Finance and Economics in Chengdu.
A landmark blueprint for economic reform that the Communist party leadership approved five years ago included a pledge to push ahead with a property tax. But a subsequent slowdown in the economy, including a housing-market downturn in 2014-15, prompted authorities to shelve those plans.
Quiet opposition from wealthy urbanites, including government officials who own multiple homes, also hindered progress.
The property market has since come roaring back, prompting one senior lawmaker to warn that the economy has been “kidnapped” by excessive reliance on property.
In his annual work report at the opening of China’s annual parliament session last month, Premier Li Keqiang called for advancing property-tax legislation, the first time since 2014 that the work report contained such a reference.
Rosealea Yao, property analyst at research group Gavekal Dragonomics in Beijing, believes that draft legislation could be published by the end of this year, with actual taxes levied by the end of 2019.
Still, uncertainty remains over basic features of the tax, such as which flats will be taxed and at what rates. Pilot tax schemes in Chongqing and Shanghai launched in 2011 shielded lower-income homeowners by taxing only higher-priced units or exempting first homes altogether. Tax rates in the two cities ranged from 0.4 to 1.2 per cent.
Homeowners have feared that a property tax will hurt the value of their homes, but Ms. Yao expects the eventual plan to be designed to minimise the market impact. Such safeguards could include an extended phase-in and corresponding cuts to existing taxes on property transactions.
“It seems that the odds of the eventual passage of a property tax are rising, but that the odds that it will be a shock to the market are falling,” she wrote in a report.