Can Xi Jinping’s property tax deflate China’s housing bubble?

Xi Jinping’s to-do list has seen a lot of ticks in recent months: more flights into Taiwan’s defence zone; suppressing dissenting voices in Hong Kong; clipping the wings of tech barons; outlawing the out-of-school tutoring industry. The list goes on. However, one key initiative – introducing a local property tax – has attracted fewer headlines but is apparently so controversial within China’s