News Snapshot:
SHANGHAI (Reuters) – The top decision-making body of the Chinese parliament said on Saturday it will roll out a pilot real estate tax in some regions, the official Xinhua news agency reported. The State Council will determine which regions will host the pilot tax and other details, Xinhua added. China’s long-mooted – and long-resisted – property tax has gained new momentum as President Xi Jinping threw his support behind what experts say would be one of the most profound changes to the country’s real estate policies in a generation. A tax may finally tame the country’s red-hot home prices, which...
