China property tax report is ‘unfounded’ says researcher

BEIJING: A report that China will not introduce a property tax during the next three years was incorrect, a senior government researcher said on Monday, May 24.

Chinese property shares soared 5% after a weekend report that Beijing would delay implementing a housing tax for at least three years, a tightening measure that analysts say would go a long way toward cooling the market.

The original report in the China Times, a Beijing-based newspaper, cited Huang Hanquan, a researcher at the powerful economic planning agency.