China to impose property tax next year

China may implement a property tax starting early next year, according to a report released by The China Business News.

The rumours on a new property tax have heavily affected the domestic stock market in recent months.

“There are several proposals, but it's still unclear which one will be taken. But there is a high possibility that it'll be implemented on Jan. 1 next year,” the unidentified source told the newspaper agency.

Other cities such as Chongqing and Shenzhen are reported to be planning a trial of the new property tax.

With property prices and transactions indicating several signs of recovery, many investors are concerned that the country will implement another series of tightening measures.