China Property Tax May Curb Rising Home Prices: Herald

Launching a property tax may help the Chinese government to curb the rising home price and the market will stabilize in the long run after an initial fall, the 21st Century Business Herald said in an editorial. The property tax will only target those holding many houses and won't impact most families, the newspaper said. Boosting domestic consumption, the key of China's dual circulation model, also requires controls over housing costs and reduceing pressure owning a home, it said. The editorial was published after last week some ministries convened to discuss the long-deliberated property tax.