End in sight for China’s building boom

An “inevitable” property tax will have severe consequences for the industry, but should benefit the broader economy.
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A Chinese ghost town featured on CBS's 60 Minutes
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<div style="text-align: left;"> A Chinese ghost town featured on CBS's 60 Minutes </div>

China’s property industry faces a bleak future. It is now seen as inevitable that the government will rein in the country’s building boom with a nationwide property tax, which would divert savings away from the real estate market and bring an end to the mania.

¬ Haymarket Media Limited. All rights reserved.

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