China moves to make homes more affordable with pilot tax programme

With the latest pilot, the central government is looking to tax all types of urban homes in designated areas. PHOTO: AFP
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BEIJING - Office manager Wang Bing is hoping that China's latest experiment with property taxes will drive down red-hot home prices in Beijing, where he has been living and working for the past five years.

He and his wife, whom he met in Beijing, have no children but want to raise them in the future in the capital city. Central to the Wangs' plan is owning a home in one of the world's most expensive housing markets.

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