China property tax to hit more cities

China may ramp up its efforts to implement property tax trials amid a renewed surge in home prices in many cities, the official Xinhua News Agency reported on Sunday, citing local media. The Beijing-based Securities Daily said the expectations for upgrading the real estate market control are increasing and a long-term mechanism will be gradually rolled out. The expansion of property tax trials is one of the most likely approaches for the government to adopt, it said.