China Property Shares Stumble on Tax Worry, Signs of Weakness

A police officer is seen in the lobby of the Evergrande Center building in Shanghai on September 24, 2021. HECTOR RETAMAL/AFP via Getty Images

HONG KONG/SHANGHAI—Chinese property shares fell on Monday, as Beijing pushed ahead with plans for a property tax and amid fresh signs of weakening in the real estate market.

Chinese developer Kaisa Group’s coupon payment for a dollar bond and the central bank’s efforts to calm nerves over China Evergrande Group’s debt woes, helped in part to offset the overall bearish mood in the property sector.