Download or read book An Empirical Study on Housing Price in China Under Macro Control Measures written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The price of real estate is the result of economical operation and, most importantly, regulation mechanism of resource distribution for real estate industry. Since the process of economic reform began in 1978, there have been several times that the Chinese government imposed contractive measures intended to slow down the economic growth. This paper applies insights from economic theory to explain recent housing price patterns in China four largest metropolitan areas. (Beijing, Shanghai, Shenzhen and Guangzhou) and discusses how the Chinese Government stance and policy affect the development of real estate. By examining the degree of impact on the housing market as a result of Macro Control Measures, excluding other housing market drivers; the empirical results revealed the degree of effectiveness by the Chinese Government administrative control over the housing market vary across the regions.

Download or read book Assessing China s Residential Real Estate Market written by Ding Ding and published by International Monetary Fund. This book was released on 2017-11-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s real estate market rebounded sharply after a temporary slowdown in 2014-2015. This paper uses city-level data to estimate the range of house price overvaluation across city-tiers and assesses the main risks of a sharp housing market slowdown. If house prices rise further beyond “fundamental” levels and the bubble expands to smaller cities, it would increase the likelihood and costs of a sharp correction, which would weaken growth, undermine financial stability, reduce local government spending room, and spur capital outflows. Empirical analysis suggests that the increasing intensity of macroprudential policies tailored to local conditions is appropriate. The government should expand its toolkit to include additional macroprudential measures and push forward reforms to address the fundamental imbalances in the residential housing market.

Download or read book Housing Affordability and Housing Policy in Urban China written by Zan Yang and published by Springer Science & Business Media. This book was released on 2014-01-25 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of housing affordability under the economic reforms and social transformations in urban China. It also offers an overall review of the current government measures on the housing market and affordable housing policies in China. By introducing a dynamic affordability approach and residual income approach, the book allows us to capture the size of the affordability gap more accurately, to better identify policy targets, and to assess the effectiveness of current public policy. The unique database on urban household surveys and regional information on affordable housing projects serve to strengthen the analysis. The book offers theoretical and empirical insights for in-depth affordability studies and helps readers to understand the social impacts of market reforms and the role of government on the Chinese housing market.

Download or read book Assessing China s Residential Real Estate Market written by Ding Ding and published by International Monetary Fund. This book was released on 2017-11-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s real estate market rebounded sharply after a temporary slowdown in 2014-2015. This paper uses city-level data to estimate the range of house price overvaluation across city-tiers and assesses the main risks of a sharp housing market slowdown. If house prices rise further beyond “fundamental” levels and the bubble expands to smaller cities, it would increase the likelihood and costs of a sharp correction, which would weaken growth, undermine financial stability, reduce local government spending room, and spur capital outflows. Empirical analysis suggests that the increasing intensity of macroprudential policies tailored to local conditions is appropriate. The government should expand its toolkit to include additional macroprudential measures and push forward reforms to address the fundamental imbalances in the residential housing market.

Download or read book Housing Prices Income and Urban Quality of Life written by Beirong Fu and published by Open Dissertation Press. This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Housing Prices, Income and Urban Quality of Life: an Empirical Study Across 35 Cities in China" by Beirong, Fu, 付蓓蓉, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Nowadays, the mobility and globalization of firms make it possible for people to choose their favorite working cities worldwide. Thus beyond employment and income, more and more attention has been paid to the comparison of urban quality of life (UQOL). As housing cost usually consists of the largest share of household budget which is thought as a "ticket" to live in a city, housing prices surely have great impact on the relative value of income and UQOL when one makes a relocation decision. With increasing inter-urban migration in China, the inter-urban real estate development becomes popular. In order to plant right crop for right land, the inter-urban differences on the combination of housing prices, income and UQOL should be well studied. In addition, it is found that cities with high UQOL grow faster because they can attract more talents to work in (Glaeser 2001). But with more and more immigration taken place in high amenity cities, housing prices may rise up faster than workers' wages. When the advantage of UQOL is offset by the increased housing cost, it would reach a dynamic equilibrium which lets immigration terminate or slow down. Even worse, if housing prices rise higher and higher, talents would have to move out. Therefore, it is noticeable to the urban governments that the pattern of inter-urban competitiveness changes dramatically from the traditional solely economic-driven mode to the sustainable attractiveness by the bundles of housing prices, income and UQOL. This research aims at revealing the quantitative relationship among housing prices, income and UQOL which may give inspiration to city dwellers, developers and governments. Firstly following the compensation theory, a customized equilibrium model is developed to calculate the quantitative value of UQOL. Then a new classification method is proposed to Chinese cities based on their bundles of housing prices, income and UQOL. There are 3-high cities, 2-high (2-high-price&income, 2-high-price&UQOL, 2-high-income&UQOL) cities, 1-high (1-high-price, 1-high-income and 1-high-UQOL) cities and 3-low cities. This classification gives a new vision for city dwellers, developers and governments to recognize the substantive differences among cities which are helpful for decision making, strategy deployment and policy making. Rural labor is suggested to choose 1-high-income cities as early as better. College graduates are advised to enter 2-high-income&UQOL cities as soon as possible. The rich and famous group is recommended to enter 3-high cities to enjoy the most mature service. Inter-urban developers need to take different development strategies in different kinds of cities: develop products at popular locations in 3-high cities, create local good reputation with high-quality housing in cities with high housing prices and enter cities with high UQOL as quickly as possible. For urban governments, it's important to keep improving UQOL in the course of the economic development. Also, they are advised to control the excessive growth of housing prices especially in 3-high cities. DOI: 10.5353/th_b5137946 Subjects: Quality of life - China Housing - Prices - China Income - China

Download or read book Proceedings of the 2023 2nd International Conference on Economics Smart Finance and Contemporary Trade ESFCT 2023 written by Faruk Balli and published by Springer Nature. This book was released on 2023-11-11 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book.The relationship between international trade and economic development is mutual: foreign trade is the driving force of economic growth, and higher export level means that a country has the means to improve its import level. The growth of exports also tends to change the investment fields of the countries concerned. Exports make a country gain the benefits of economies of scale, and competition in the world market will put pressure on a country's export industry, A growing export sector will also encourage domestic and foreign investment. The concept of financial development actually means that the financial structure has changed to a certain extent. This change is not only the change of time, but also the change of internal transaction flow. International trade is known as the driving force of the development of human science and technology, and has created countless employment opportunities worldwide. It is also international trade that has led to the formation of industrial division worldwide. International trade, from its name, can be seen as trade between different countries, and the financial development level of a country will have a direct impact on the trend of international trade, so the purchasing power will be stronger. In this case, more countries are willing to increase import and export trade, which can not only increase their income, but also increase the relationship between countries. The 2nd International Academic Conference on Economics, Smart Finance, and Contemporary Trade (ESFCT 2023) will be held on July 28–30, 2023 in Dali, China. The purpose of ESFCT 2023 is to explore the relationship between economy, smart finance and contemporary trade. Experts and scholars in relevant fields are welcome to participate in ESFCT 2023.

Download or read book Stabilizing China s Housing Market written by Richard Koss and published by International Monetary Fund. This book was released on 2018-04-13 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.

Download or read book Proceedings of the 17th International Symposium on Advancement of Construction Management and Real Estate written by Jiayuan Wang and published by Springer Science & Business Media. This book was released on 2013-08-16 with total page 1270 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Chinese Research Institute of Construction Management (CRIOCM) in collaboration with Shenzhen University (SZU) proudly invites all academics, researchers and professionals to participate in the CRIOCM 2012, the 17th International Symposium on "Advancement of Construction Management and Real Estate." We will uphold and preserve the idea and tradition of pragmatism and innovation, to offer an excellent academic and communication platform for academics and professionals to exchange information on the latest developments in real estate and construction management.

Download or read book Proceedings of the 23rd International Symposium on Advancement of Construction Management and Real Estate written by Fenjie Long and published by Springer Nature. This book was released on 2021-02-02 with total page 1416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of CRIOCM2018, 23rd International Symposium on Advancement of Construction Management and Real Estate, sharing the latest developments in real estate and construction management around the globe. The conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with Guizhou Institute of Technology (GIT). Written by international academics and professionals, the proceedings discuss the latest achievements, research findings and advances in frontier disciplines in the field of construction management and real estate. Covering a wide range of topics, including New-type urbanization, land development and land use, urban planning and infrastructure construction, housing market and housing policy, real estate finance and investment, new theories and practices on construction project management, smart city, BIM technologies and applications, construction management in big data era, green architecture and eco-city, rural rejuvenation and eco-civilization, other topics related to construction management and real estate, the discussions provide valuable insights into the advancement of construction management and real estate in the new era. The book is an outstanding reference resource for academics and professionals alike.

Download or read book The Empirical Study of the Price Mechanism in the Chinese Housing Market written by Gu Guowei and published by . This book was released on 2005 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Land Supply and Housing Prices written by Qiongqiong Zheng and published by . This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Land Supply and Housing Prices: Empirical Studies of Hong Kong and Guangzhou" by Qiongqiong, Zheng, 郑琼琼, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: It is widely accepted that land supply plays an important role in restricting housing supply and adjusting housing price level. This study aims to explore the dynamic relationship and causality between land supply and housing price with the cases of Hong Kong and Guangzhou, which are two close relative Chinese cities under the framework of 'One country, two systems'. This study employs the vector auto-regression (VAR), Vector Error Correction Model (VECM) and Granger Causality test to disentangle the complicated relationship, long-run and short-run, between land supply and housing price. Besides, the dynamic analysis of VAR and VECM are conducted using innovation accounting methods such as impulse response function (IRF) and variance decomposition (VDC). The empirical results show that the land supply and housing price are co-integrated in Hong Kong during the sample period between 2001 and 2011, and a long-run unilateral causality is confirmed from housing price to land supply for Hong Kong. Regarding Guangzhou, although there is no co-integration between land supply and housing price during 2001 and 2011, Granger causality from land supply to housing price shows a time lag of 10 quarters. These findings imply the relative efficient market economy in the Hong Kong housing market compared to Guangzhou, which is also consistent with the differences in land leasing systems and housing markets in Hong Kong and Guangzhou. This study not only sheds light on the discrepancies of land leasing systems and housing market mechanism between capitalism and socialism, but also provides implications for policy makers in formulating strategy to improve housing affordability. DOI: 10.5353/th_b5108692 Subjects: Housing - Prices - China - Hong Kong Land use - China - Guangzhou Housing - Prices - China - Guangzhou Land use - China - Hong Kong

Download or read book Macro Control Tools and the Effectiveness on Housing Price in China written by 梁連金 and published by . This book was released on 2016 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Proceedings of the 2015 International Conference on Sustainable Development written by Liandong Zhu and published by World Scientific. This book was released on 2016 with total page 1156 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since the emergence of climate and global warming onto the international agenda, research in sustainability has been underpinned by the development in energy and environmental science. Highlighted 30 years ago by the Brundtland Commission, "sustainable development" was defined as: meeting the needs of the present without compromising the ability of future generations to meet their own needs. This has very much defined the scope and aims of this conference. This conference proceedings book contains the selected papers presented in the 2015 International Conference on Sustainable Development (ICSD2015) held in September 25-27, 2015, in Wuhan, Hubei, China. The conference positions itself as an international forum for researchers all over the world to come together to share and discuss their findings and contributions in all aspects of sustainability; including theory, methodology and applications covering a wide spectrum of topics and issues. The conference proceedings put together a total of 119 papers in sustainable development, covering issues in environmental, energy, and economical aspects of the subjects."--Provided by publisher

Download or read book Applied Economics Business and Development written by Qingyuan Zhou and published by Springer Science & Business Media. This book was released on 2011-07-22 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: This four-volume-set (CCIS 208, 209, 210, 211) constitutes the refereed proceedings of the International Symposium on Applied Economics, Business and Development, ISAEBD 2011, held in Dalian, China, in August 2011. The papers address issues related to Applied Economics, Business and Development and cover various research areas including Economics, Management, Education and its Applications.

Download or read book Macroprudential Policies and Housing Price written by Mr.Jerome Vandenbussche and published by International Monetary Fund. This book was released on 2012-12-27 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several countries in Central, Eastern and Southeastern Europe used a rich set of prudential instruments in response to last decade’s credit and housing boom and bust cycles. We collect detailed information on these policy measures in a comprehensive database covering 16 countries at a quarterly frequency. We use this database to investigate whether the policy measures had an impact on housing price inflation. Our evidence suggests that some—but not all—measures did have an impact. These measures were changes in the minimum CAR and non-standard liquidity measures (marginal reserve requirements on foreign funding, marginal reserve requirements linked to credit growth).

Download or read book Housing Prices Income and Urban Quality of Life written by 付蓓蓉 and published by . This book was released on 2011 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Study on Relativity Between China s Macro Economy and the Chinese Stock Index An Empirical Analysis Based on China s Nominal GDP and Shanghai Securities Composite Index written by Dahong Guan and published by . This book was released on 2015 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: By implementing X-11 process to eliminate the seasonal effect from the data of nominal GDP and Shanghai Securities Composite Index from 1996 to 2015, conducting co-integration test and Granger causality test on these processed data, and examining the leading characteristics of the securities index with the Lag regression model, the present thesis finally conducts a detailed analysis of the research results and puts forward some policy recommendations. The study suggests that there is a stable positive-correlating long-term relationship between Shanghai securities composite index and nominal GDP, the former being the Grainger causes for the latter, which mainly arises from the improvement in the institution of the stock market and the larger ratio of the stock market capitalization to that of nominal GDP. In addition, the increasing liquidity of long-term stock market and investors' speculation to the stock market based on the national macro-control policies also elucidated the inherent property of Shanghai Composite Index as a leading indicator of Chinese Nominal GDP in the results presented.