China starts trial of property register
China has started to trial a property-registration system in various cities and is expected to launch the scheme nationwide next year, the state-owned China Securities Journal reported on Tuesday.
The system will help discourage speculation and allow the government to track home ownership, forcing corrupt officials to come clean about properties they have bought with ill-gotten gains, industry experts say.
It is also seen as a step toward the roll-out of a property tax, currently implemented only on a trial basis in the major Chinese cities of Shanghai and Chongqing.
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