BEIJING, Oct 24 — China is set to expand pilot property tax reforms, state media reported, as the government battles real estate speculation in the world’s second-biggest economy.
China’s top legislature, the National People’s Congress Standing Committee, on Saturday approved the latest plan to promote “rational housing consumption”, according to the official Xinhua news agency. The announcement comes with President Xi Jinping pushing for more “common prosperity” in China aimed at spreading wealth more evenly.
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