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New property tax to make housing more affordable

China’s government wants to get serious with its plans that were years in the making, and plan to gradually introduce a real estate tax. This is a highly emotionally-charged issue that affects just about everyone in the People’s Republic. After all, more than 90 percent of households in China have their own property. That is significantly more than in Germany, where it is much more common to rent an apartment. Here, the proportion of property owners is around 50 percent.

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