China to 'focus energy' on real estate tax in 2019

Work on a draft property tax in China is "steadily advancing" and it will be submitted for review when conditions are right, senior Chinese parliamentary officials said. China has considered a property tax for more than a decade, with market speculation of its implementation rearing its head every few years. China will "focus energy" on implementing major legislative items this year including a property tax, the head of the country's largely rubber-stamp parliament said, though gave no details. Deputy head of parliament's Legislative Affairs Commission Liu Junchen confirmed at a news conference on parliament's side-lines that work had started on such a law. Deputy head of parliament's Legislative Affairs Commission Liu Junchen confirmed at a news conference on parliament's sidelines that work had started on such a law.