China Renews Pledge to Push Property Tax Expansion

　　A new pledge by the authorities here in China to expand property taxes is drawing warnings by some observers, who are warning the government not to misuse¹ the property tax program to artificially push down housing prices.

 

　　CRI's Shen Chengcheng explains.

 

　　China's State Administration of Taxation² has recently issued a circular that it will research the possibility of expanding the property tax pilot programs.

 

　　The comment is the latest in a string of official statements, in which authorities have vowed³ to implement⁴ a property tax plan.

 

　　The plan is currently being used in the cities of Shanghai and Chongqing.

 

　　However, despite repeated statements, the government has yet to make any substantial moves regarding the property tax.

 

　　Business commentator⁵ Wen Xing says this is because the pilot programs in Shanghai and Chongqing didn't exactly fulfill⁶ their goal of cooling the housing market.

 

　　"We don't know how much tax revenue the government has collected and whether the pilot programs are effective or not after they have been implemented⁷ in Shanghai and Chongqing for a year. However, one thing is for sure is that the trend of housing prices going up remain intact."

 

　　The pilot tax programs in Shanghai mainly targeted the ownership of multiple houses while the Chongqing trial programs focused on taxing high-end housing.

 

　　But due to limited rates ranging from 0.5 to 1.2 percent, the taxes imposed were considered too low to be effective in keeping local housing prices in check.

 

　　Chen Yuyu is an economic professor at Peking University.

 

　　He says the property tax can't be tied together with the housing prices.

 

　　"Property tax shouldn't become a tool of regulating the housing industry. Rather it should be a properly-planned local tax to pool money for its long-term development. We shouldn't make it an opportunist tool to push down housing prices."

 

　　However, some analysts⁸ do believe the property tax program will be expanded and the expansion plan is possibly be issued in the third or fourth quarter of the year.

 

　　For CRI, I'm Shen Chengcheng.

1 misuse   

n.误用，滥用；vt.误用，滥用

参考例句：

• It disturbs me profoundly that you so misuse your talents.你如此滥用自己的才能，使我深感不安。
• He was sacked for computer misuse.他因滥用计算机而被解雇了。

2 taxation   

n.征税，税收，税金

参考例句：

• He made a number of simplifications in the taxation system.他在税制上作了一些简化。
• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。

3 vowed   

起誓，发誓（vow的过去式与过去分词形式）

参考例句：

• He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
• I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。

4 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

5 commentator   

n.注释者，解说者；实况广播评论员

参考例句：

• He is a good commentator because he can get across the game.他能简单地解说这场比赛，是个好的解说者。
• The commentator made a big mistake during the live broadcast.在直播节目中评论员犯了个大错误。

6 fulfill   

vt.履行，实现，完成；满足，使满意

参考例句：

• If you make a promise you should fulfill it.如果你许诺了，你就要履行你的诺言。
• This company should be able to fulfill our requirements.这家公司应该能够满足我们的要求。

7 implemented   

v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效

参考例句：

• This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
• The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句

8 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。