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The Evolving Real Estate Market Structure in China

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Understanding China’s Real Estate Markets

Part of the book series: Management for Professionals ((MANAGPROF))

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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Notes

  1. 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. 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. 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. 4.

    The total investments of urban fixed assets comprise investments in urban infrastructure and urban real estate.

  5. 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. 6.

    Based on the industry categorization defined by the China Securities Regulatory Commission in 2016.

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Wang, B. (2021). The Evolving Real Estate Market Structure in China. In: Wang, B., Just, T. (eds) Understanding China’s Real Estate Markets. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-030-71748-3_2

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