How Could This Be Dictatorland?
Despite numerous attempts, China’s leadership has not introduced comprehensive property taxes. What does the internet say is the reason?
United States President Joe Biden has repeatedly called China’s President Xi Jinping a ‘dictator.’
While it’s debatable whether one-party rule equates to a dictatorship, one thing is clear: Xi Jinping has not succeeded in implementing his real estate policies effectively.
As Li Zhuroan says in his insightful article for The Diplomat, “Xi may have more power than any Chinese leader since Mao Zedong, but even he can’t fully implement his policy preference.” (see https://thediplomat.com/2023/11/the-power-and-limits-of-xi-jinping/)
As far back as 2011, China began trying out property taxes in certain cities to cool the residential property market.
Had these efforts been more successful and widespread, many of the crises that have plagued the residential property sector in recent years might have been mitigated.
Yes, China stands out among urbanized nations as one of the few that lacks a nationwide property tax.
So what are the reasons for failing to implement this fairly basic reform?
