Zhang Xin, chief executive of real estate developer Soho China, said on Saturday that the country's economy is too 'soft' for a property tax.
For years, China has toyed with the idea of a property tax, but at least one developer doesn't think now's the right time.
"In today's market, when the economy is so soft ... this would just be a really hard time to introduce something so impactful," said Zhang, who spoke with CNBC's Eunice Yoon at the China Development Forum in Beijing. At this year's annual National People's Congress in Beijing, senior officials said work on a draft for the tax was "steadily advancing."
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