MNI China Press Digest April 26: Property Tax, GDP, PCR Test

Highlights from Chinese press reports on Wednesday:

• China has announced it will implement a unified real estate registration and rights system according to Xinhua news agency. Analysts have long viewed the measure as a prerequisite to introducing a property tax. Authorities began the process of unification 10 years ago, and the new system will cover all property types, both rural and urban. Wang Guanghua, Minister of Natural Resources announced the plans at the National Conference on the Registration of Natural Resources and Real Estate Rights, according to Xinhua.
• Shandong province Q1 GDP grew by 4.7% y/y, with industrial output expanding strongly at 5.9%, according to the 21st Century Herald. Primary industry increased 3.8%, secondary industry was up 5.1%, and tertiary industry increased 4.5%. Official data showed for Q1 tourism visitors recovered to 101.6% of 2019 levels, which accounted for 85.6% of the revenue. The tourism department expects growth to pick up further in Q2 during April and the May holiday. Retail sales were up 5.6%, with authorities launching various consumption boosting activities in Q1.
• China will no longer require inbound passengers to undertake a PCR test before boarding, and will instead accept antigen test results taken within 48 hours before departure, according to the Foreign Ministry. The new rules will begin from April 29th, with airlines no longer needed to verify pre-boarding testing certificates. A spokesperson said the change will further facilitate the exchange of Chinese and foreign personnel, and China would continue to optimize prevention and control policies based on the epidemic situation. (Source: Yicai)