Interpreting the Recent Central Financial and Economic Affairs Commission Meeting
Pekingology
The Politics of Property Taxation in China
Carl Kears: In some ways, this is a no-brainer. China doesn't tax enough. They don't know how to get there. It's not a big mystery when you wonder why would a country not want to impose a wealth tax in the upper middle class. And by the way, most rental yields are very, very low. People generally just sort of buy and hold,. So you're basically taking an asset that is worth appreciation on paper with no cash flow behind it saying, give me cash flow now.
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