Facing strong resistance within the CCP, Chairman Xi has to suspend the nationwide real estate tax plan

Translated by: MOS Health Team – Wenfei

According to several news sources, CCP Chairman Xi Jinping encountered rare strong resistance within the party when he tried to implement a nationwide real estate tax to alleviate the exhaustion of tax sources. The number of cities that will levy pilot real estate taxes reduced from 30 to 10. Beijing government will carry out a less controversial alternative tax reform plan, which is similar to the “dual-track system” housing back to the late 1990s.

The CCP party members were almost all opposed to Xi Jinping’s expanded real estate plan

Xi Jinping previously appointed Vice Premier Han Zheng in charge of real estate tax implementation. Han received an extensive opposed solicitation from multiple departments and suggested Xi postpone the tax reform.

The CCP party members were almost all opposed to Xi Jinping’s expanded real estate plan. According to internal sources, CCP party members own more than one set of real estate in general. As the COVID-19 epidemic continues, the domestic economy and family income, including CCP party member earnings, are declining. The real estate tax will add the house owner’s tax expenditure and increase the family burden, which is a vital interest of each party member. Hence, even the proposal from the “Core Xi” encountered fierce opposition.

Posted by: Wenfei

Reference: https://news.ltn.com.tw/news/world/paper/1479879

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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