Property tax progressing, advisers say

Political advisers have identified some of the key areas for legislators drawing up China's first property tax, including who will set the rates.

The legislation, under discussion for several years, is seen as an essential part of the structural reform to improve local governments' tax systems, Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, said on Saturday.

"The legal framework is expected to clarify whether provincial governments will be able to determine their own tax rates" based on local conditions, said Liu, who is a member of the National Committee of the Chinese People's Political Consultative Conference.