China’s real estate market has long benefitted investors, with its astronomical growth rate and nonexistent property tax, but that might be changing. To rein in real estate prices and curb speculation, the National People’s Congress in March renewed discussions of property taxes.
China Market Intelligence
As China urbanizes, and workers move from factories to offices, the construction and operation of buildings will account for a growing share of Chinese cities’ energy consumption and carbon emissions.
US governors are heading to China in increasing numbers to seek potential investors for public and private projects. Since 2009, US governors have led 58 trade missions to China, helping to usher in more than $34 billion in direct investment over the past five years.
Over the past four decades, China has seen the largest migration in human history. Since 1979, more than 300 million rural residents have moved into China’s cities, bringing the country’s urban population to 710 million. This has increased the proportion of China’s urban population from just 17.9 percent in 1978 to 52.6 percent today.
The full PRC National People's Congress (NPC) concluded its annual session March 16 after adopting the Property Rights Law, which grants equal protection to public and private property, and the Enterprise Income Tax Law, which unifies the effective tax rates for foreign-invested and domestic enterprises.