No property taxes for now: Official

BEIJING - China will not launch taxes on holdings of more than one residential apartment for at least another three years, a government think tank official has said. Meanwhile, many economists continue to warn that the country's economy could slow down amidst property tightening policies and outside uncertainties.

"Taxes on holding of residential properties is impossible at least for another three years," Huang Hanquan, assistant director of the industrial institute of the National Development and Reform Commission (NDRC), the nation's top economic policymaking agency, was quoted by China Times as saying on Sunday.

As China's home prices continue to soar amid growing public complaint, the authorities have issued a series of tightening policies, with some experts forecasting that taxing more than one residential property could deal a final blow to the housing sector.