At the National Finance Work Conference, China’s Finance Minister also said the country will expand a pilot property tax programme in Chongqing and Shanghai nationally, to help cool housing prices.

China will also widen resource tax reforms and expand the scope of resource taxes based on prices when the time is right, to help conserve resources. The government expanded a regional resource tax on domestic sales of crude oil and natural gas to the whole country and widened it to include coking coal and rare earths from November.

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