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Understanding China’s Real Estate Markets: A Brief Introduction Read chapter Read first chapter

2021 | OriginalPaper | Chapter

The Evolving Real Estate Market Structure in China

Author : Bing Wang

Published in: Understanding China’s Real Estate Markets

Publisher: Springer International Publishing

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Abstract

In recent decades, the real estate sector has emerged as one of the key drivers of China’s economic growth engine. However, limited work has sought to illustrate the evolving market structure and key players within this sector, especially from a historic perspective. This chapter provides an overview of the formational trajectory of China’s real estate market structure over the past 40 years and characterizes two critical players of the industry: state-owned enterprises and publicly listed real estate companies. The chapter highlights the complexity of the real estate market’s institutional characteristics and introduces the intersection among China’s urbanization, the evolving structure of its real estate sector, and the potential trajectory of critical real estate players.

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previous chapter Understanding China’s Real Estate Markets: A Brief Introduction
next chapter Navigating the Property Data Landscape
Footnotes
1
The National Bureau of Statistics of China 2018, 2019. The conversion rate used was 6.9 Chinese renminbi (RMB) to one US dollar.
 
2
The Household Responsibility System (HRS) was initiated in the countryside of An’Hui Province in an effort to redistribute agricultural productivity quotas to individual families instead of the communes, for profit sharing in the agriculture production system.
 
3
Residents of cities and those of rural areas did not acquire autonomy simultaneously. The latter enjoyed legalized privatization in the form of township and village enterprises (TVE) far earlier than their urban counterparts.
 
4
The total investments of urban fixed assets comprise investments in urban infrastructure and urban real estate.
 
5
All data are from the National Bureau of Statistics of China, accessed on June 19, 2019, http://​www.​stats.​gov.​cn/​english/​pressrelease/​201801/​t20180126_​1577671.​html
 
6
Based on the industry categorization defined by the China Securities Regulatory Commission in 2016.
 
Literature
Fung, H. G., Kummer, D., & Shen, J. J. (2006). China’s privatization reforms: Progress and challenges. The Chinese Economy, 39(2), 5–25.CrossRef
Jiang, D., Chen, J., & Isaac, D. (1998). The effect of foreign investment on the real estate industry in China. Urban Studies, 35(11), 2101–2110.CrossRef
Lao, J. (2017). The regulations on real estate companies by SASAC had a good start, but an early withdrawal. China Economic Weekly, 2017(Z1), 63–65.
The National Bureau of Statistics of China. (2018). China Statistical Yearbook 2018. Beijing: China Statistics Press.
The National Bureau of Statistics of China. (2019). China Statistical Yearbook 2019. Beijing: China Statistics Press.
Scherer, F. M., & Ross, D. (1990). Industrial market structure and economic performance (3rd ed.). Boston: Houghton-Mifflin.
Wang, B. (2011).The architectural profession of modern China: Emerging from the past. Beijing: China Foreign Language Press (China International Publishing Group).
Xu, C. G. (2011). The fundamental institutions of China’s reforms and development. The Journal of Economic Literature, 49(4), 1076–1151.CrossRef
Xu, Y., & Xue, Z. F. (2016). New land reform in Shenzhen. Beijing: China CITIC Press.
Zhang, T., Stough, R. R., & Song, C. (2013). Entrepreneurship and economic growth in China. Singapore: World Scientific Publishing.CrossRef
Metadata
Title
The Evolving Real Estate Market Structure in China
Author
Bing Wang
Copyright Year
2021
Publisher
Springer International Publishing
Book
Understanding China’s Real Estate Markets

Print ISBN: 978-3-030-71747-6

Electronic ISBN: 978-3-030-71748-3

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-3-030-71748-3_2