China plans new property tax; here’s how it may hit Australia

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China plans new property tax; here’s how it may hit Australia

China has announced plans to roll out a pilot real estate tax amid the ongoing rise in real estate speculation across the country. The National People's Congress Standing Committee has provided the nod to the latest plan to promote "rational housing consumption". Since the 1990s, Chinese home prices have surged by over 2,000%. Watch this video to find out more.

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