Push for property tax gears up

Beijing - Senior officials are pushing to implement property tax amid intensified efforts by the authorities to rein in soaring housing prices to promote a healthy and stable real estate market.

Ji Huaiyin, a deputy director of the fiscal and finance department under the State Council's Legislative Affairs Office, said property tax should be imposed as soon as possible, the Xinhua News Agency reported on Wednesday.

Action toward that end should be taken step by step, Xinhua cited Ji as saying. The tax should also not be imposed on properties that are primary residences, it reported.