Timeshare Regulation In China Study

Being a result of tourism expansion and real estate development, timeshare in China is at the initiating stage of industry germination and product introduction. As an emerging industry, timeshare in China is in a situation of confusion. The inefficacy of its market is related with the general situation of the country, the stage of its development, and the special features of the industry itself. It needs rules and regulations to remove the problem. This doctoral dissertation is composed as a serious study on how to overcome market inefficacy of the new industry.This dissertation consists of six chapters. Chapter 1 is a comprehensive literature review of the research writings published by Chinese and foreign scholars and professionals. The second chapter is an analysis on the significance of regulation to the development of timeshare industry. The author makes a new attempt to define the concept of timeshare, and proceeds to explore the relationship between timeshare and its associated industries. With the ownership theory and information-dissymmetry theory, the author identifies different manifestations of market inefficacy. After elaborating on the basic theory of regulation, the author points out that study on timeshare regulation has its great importance in both theory and practice. Chapter 3 contains a market analysis of timeshare. Based upon Engel's coefficient law and empirical studies on timeshare market in China, the author studies the market potential and brings forward certain rules of timeshare development generally working in developing countries, including China. In addition, by adopting LOGISTIC as the analytical tool and making the purchase of a timeshare property as a variable, the author targets the market groups for the timeshare industry in China. In Chapter 4, there is an analysis on the imbalance between demand and supply. With statistical methods the author arrives at the conclusion that at the present stage, the demand and supply of timeshare property in China is not effectively matched.The author examines the system factors that lead to this problem, and stresses the importance of industry regulation to its market development and planning. Chapter 5 expatiates that the exchange net is the support of timeshare development. The author emphasizes the importance of the strategic alliances and brand building, and suggests ideas concerning the guarantee system for members of timeshare exchange nets. The last chapter is a study on the credit system and legal guarantee related to the timeshare industry in China. The author analyzes causes of faith erosion and problems existing in law formulation, and brings up countermeasures by citing experience of other countries. The research done for the doctoral dissertation has its value in terms of timing and contribution to the research findings in the area of timeshare regulation. The author writes the paper in the hope to promote the healthy development of timeshare in China and to offer reference for government and the timeshare industry when they formulate industry policies, rules and regulations, and business management decisions.