How Property Tax Will Affect China’s Middle Class Families

The halted under-construction Evergrande Cultural Tourism City in Suzhou city, in China's eastern Jiangsu Province, on Sept. 17, 2021. Jessica Yang/AFP via Getty Images

News Analysis

Chinese authorities recently announced that they will roll out a pilot property tax plan in different parts of the country and likely implement property taxes nationwide in the future. This will undoubtedly be a major blow to China’s urban middle class that greatly affects their spending power.