The Standing Committee of the National People's Congress (NPC) adopted on 23 October 2021 a decision authorizing the expansion of property tax in the country. While Chinese President Xi Jinping has called for nationwide implementation of property tax, the Standing Committee decision only authorizes the State Council to implement property tax in additional pilot areas for a five-year period. As per the decision, the property tax is to be levied on all types of residential and non-residential p…