中国拯救地方政府债务困境的难点|纽约时报

中国各地的地方政府正面临破产,不得不降低工资,并通过削减市政医疗保险引发抗议。中央政府的救助是一种可能,但中国还没有把征收房产税作为一种选择,因为政府拥有土地,而是依靠向开发商出售长期租约。
上个月,政府说它已经确定了谁拥有7.9亿套房产,这意味着可以引入房产税。然而,还有一些障碍,包括技术、经济和政治障碍。引入房产税的想法自2003年以来一直存在,并得到经济学家的支持,特别是前财政部长楼继伟。
1940年代,毛泽东将富裕家庭的土地收归国有,将所有权转移给国家。地方政府一直依靠向开发商出租土地来支付其成本,但随着房地产市场的缓慢崩溃,这一收入来源已大幅下降。中国对投资收益、遗产和个人财富的税收很低,主要依靠沉重的销售税、工资税和营业税。
公众对房产税的抵制是强烈的,因为他们认为开发商应该负责纳税。
地方官员从房产税中损失惨重,因为这可能会暴露他们的财富,夺走他们的全部收入。
征收房产税可能会推低房价,让房主们担心。
小城市对房产税的需求更大,但它们的住房市场更弱。
财产税可以为政府带来急需的收入,但公众舆论和对地方官员财政损失的恐惧阻止了它的实施。
中国政府曾考虑对昂贵的公寓和房屋征收 “豪宅税”,但为了保护已经脆弱的住房市场,决定不这样做。专家们建议要求业主在原土地租约到期时缴税,但大多数是70年,所以这无助于当前的财政危机。
前财政部研究主任贾康认为,房地产的统一登记是优化房地产市场管理的重要一步,并将支持未来房地产税的实施。
总的来说,中国政府还没有引入房地产税,但正在采取措施支持未来的房地产税。这可能有助于国家目前的财政危机,但政府对破坏已经脆弱的房地产市场持谨慎态度。

Local governments across China are facing insolvency and have had to reduce pay and trigger protests by cutting municipal health insurance. Central government bailouts are a possibility, but China has not turned to a property tax as an option, as the government owns the land and has instead relied on selling long-term leases to developers.
Last month, the government said it had identified who owned 790 million properties, meaning property taxes could be introduced. However, there are obstacles, including technical, economic and political. The idea of introducing a property tax has been around since 2003 and is supported by economists, notably ex-Finance Minister Lou Jiwei.
Mao Zedong nationalized land from affluent families in the 1940s, transferring ownership to the state. Local governments have relied on leasing land to developers to cover their costs, but with the slow-motion crash of the housing market, this source of revenue has plummeted. China has low taxes on investment gains, inheritances and personal wealth and relies mainly on heavy sales taxes, salary taxes and business taxes.
Public resistance to a property tax is strong due to the belief that developers should be responsible for taxes.
Local officials have a lot to lose from a property tax, as it could expose their wealth and take their entire income.
Imposing a property tax could drive down housing prices, worrying homeowners.
Smaller cities have a greater need for property taxes, but their housing markets are weaker.
A property tax could bring in much-needed revenue for the government, but public opinion and fear of financial loss for local officials is preventing it from being implemented.
The Chinese government considered introducing a “mansion tax” on expensive apartments and houses, but decided against it to protect the already fragile housing market. Experts have suggested requiring owners to pay taxes when the original land leases expire, but most are for 70 years so this would not help the current fiscal crisis.
Jia Kang, a former finance ministry research director, believes that the unified registration of real estate is an important step in optimizing the management of the real estate market and will support the implementation of a real estate tax in the future.
Overall, the Chinese government has yet to introduce a real estate tax, but is making steps to support it in the future. This could help the country’s current fiscal crisis, but the government is wary of damaging the already fragile housing market.