China finance minister urges deeper property tax reforms: Report

Chinese finance minister Liu Kun has called for deeper reforms to the country's property tax regime in a bid to strengthen demand-side management and stabilise the real estate market, the state-run Securities Times newspaper reported on Wednesday.
 

China's property market has been a key driver of the country's economic growth, but it has been hit this year by tighter regulations and a liquidity crisis that has put giant debt-ridden developers in jeopardy.
 

A new nationwide property tax has been proposed as part of efforts to curb speculative purchases. China's cabinet, the State Council, is currently deciding which regions will be