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Experts estimate that property tax will eventually replace current purchase restrictions.[File photo]
(ECNS) -- A recent report about more property tax trials has prompted concerns, and experts agree that it will eventually replace current purchase restrictions.
Wang Yukai, a professor of administrative research at the Chinese Academy of Governance, said the central government needs time to evaluate the positive and negative effects of the property tax.
"The government has put efforts into establishing a unified network registering property ownership, which is a precondition for implementing property taxes nationwide," he said.
Administrative measures in the property market will be taken by an integrative mechanism such as property taxes and second-home loans, said Zhang Hongwei, a research director at Tospur, a Shanghai-based real estate consulting firm.
Zhang said that the arrow is already on the bow, although some cities such as Beijing and Guangdong denied rumors about property taxes.
China Securities Journal reported Monday that the government has put adding more pilot cities for property tax trials on its work agenda this year.
The property tax pilot program was initiated in January 2011 in Shanghai and Chongqing.
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