China's Real Estate Market Regulation Study

Real estate is correlated and big business, witch has a major role in economic development and improving people's housing environment. The real estate market is an important component of China's market economy and is a carrier of the healthy and orderly development of the real estate industry. At present, China is in the macro-backdrop of industry, information technology, urbanization, marketing and internationalization. The regulation of real estate market has become China's macro-control of the national economy, which is the main element of a direct impact on macro-economic operation. At the same time, the real estate market is a strong guarantee for the real estate healthy development. Therefore, we should analyze the cause of the problem that exposed in the development of real estate market, and find solutions to this problem. We should realize the control laws and enhance the effectiveness of the real estate market. And it is an important issue of the healthy and orderly development of real estate. This is great significance not only in the healthy development of China's real estate industry but also in the promotion of the sustainable development of the national economy. In this paper, our study is based on the theory of market failure, the real estate market regulation and control theory, the theory of real estate market price fluctuations, and the theory or central and local interests and power relations, I sum up the two decades of experience the lessons-control of the real estate market in China, and analyze the real estate market regulation practice of United States, Germany, Japan, Singapore. Based on the above analysis, I extract the common features of the regulation and control of real estate both at home an abroad, and find out the weakness of China's real estate market, by witch I have the idea of the regulation and control of real estate market and improve the overall design of China's estate market.The main content of this article includes the following three parts:Firstly, I find out and extract the guidance and enlightenment experience of China's real estate market by the analysis of the practice of the regulation and control market of overseas real estate .Many countries such as the United States, Germany, Japan, Singapore experienced the shortage of housing supply which caused by the change in the economic cycle, the success of economic growth and the war or economic hardship. Although the development background, economic levels and the degree of market-oriented are different from country to country, there is the same features in the practice of the real estate market regulation, witch reflect the general common law practice of the real estate market regulation. The practice of overseas real estate market shows as the following three parts: In the first place, the basis and the end result of real estate market around the world is to meet the housing needs of the people. In the second places , the stability of the price of the real estate in important to the government. In order to ensure the price of the real estate market stability, the government has taken a number of regulation and control policies and measures. The primary means of control are monetary policy, tax policy, land policy and price control means. The third, the control policy of real estate changed as the growing of the economic, the perfect housing security. Although in the process of the practice of market regulation in the real estate, the experience is inconsistent with the contradiction, the existence of regulation and control methods is dissimilar and the choice of market-oriented real estate market is still the inevitable trend of development. I extract the useful ideas and methods from the experience of the real estate market regulation and control of American, German, Japan, and Singapore. At the same time, I analyze the negative effects witch caused as a result of improper control of the real estate market.Secondly, I analyze the practice of China's real estate market. And based on the experience of the overseas real estate regulation and control, I discover and extract the deficiencies of China's real estate, which including the lack of the long-term strategic development, the lack of the real estate market system, the lack of effective control methods of the real estate market, the lack of effective coordination of regulation and control of the real estate, the lack of effective support of the technology industry. The two decades of experience and lessons in China's real estate market show that in facing the volatile of the real estate market price, and in the implementation of regulation, the government sometimes is consciously, sometimes is forced, sometimes it is blind. Because China's real estate industry is in a late start, and like any other new things, we can master the law of the development of real estate. In order to make China's real estate market to achieve better results, we should take measures as following: First, we should clarify the relationship between efficiency and social equity. Second we should improve the distribution and promote the fair of the regulation of real estate market. The third, in order to control the stability of the basis of the real estate market, we should coordinate all parties. The fourth, only we control the real estate market in scientific way, can we achieve the success of the regulation and control of the real estate market. The fifth, if we want to ensure the long-term effect of real estate market, we should be perseverant.Thirdly, we should improve the overall design of real estate market control, adhere to the direction of development of real estate market, on the real estate market system and adhere to the real estate market. I make the overall design of China's real estate market and the content of the overall design is analyzed and extracted from the theory and practice of regulation. The content of the overall design includes the status and role of the real estate market, the purpose and principles of the regulation and control of the real estate market, the ways and means of the regulation and control of the real estate market, the discourse segments and rhythm of the regulation and control of the real estate market, and includes dealing with the relationship between central and local government and the research and demonstration of the choice of the mode of housing supply. And in the aspect of external environment, the environment of economic growth, the environment of monetary circulation, I make the relevant recommendations. In the aspect of the relationship between central and local government, I summarized the root cause of the institutional game of central and local government, and made some advice to coordinate the relationship between central and local government. In the choices of the mode in China's housing supply, I define the current mode of housing supply as a"market-modest security-type", and I put forward that market-oriented housing is a major supplier at this stage. In solving the housing problem of low-income person, we should not only adhere to the principle of moderation, that is to strike a balance among the interests of all parties, but also follow the principles of the degree of relaxation. The adoption of market principles and benefits of the organic integration not only embodies the market rules, but also support the policy, which is proposed to deal with the supply of social housing policy and the real estate market relations.