| Real estate industry not only drives its development-related industries but alsoimproves employment opportunities and promotes urbanization. The real estate industrycorrelative degree reveals the intrinsic link between the very industry and others,indicating that the real estate industry provides products and services to forward relatedindustries, depends on the backword related industries, and shows a bidirectionalbehavior to the completely related industries. The real estate industry exerts the rippleeffect on the socio-economic areas.The paper firstly presents the basic concepts of the real estate industry, the growthprocess, the development abstract as well as the industry characteristics. Then it clarifiesthe correlation properties of the real estate industry, and researches on the industryrelated degree concerning three representative city, Shanghai (eastern China), Hubei(central China) and Chongqing (western China) respectively. It compares among thereal estate industry of the three sample cities, and at last analyzes the spreading effectsof the real estate industry, providing conclusive political suggestions.For the research of the real estate industry association degree, it makes a thoroughanalysis of backward directly related industries, backward completely related industries,forward directly related industries, forward completely related industries as well asround related industries of the real estate industry in1997,2002and2007. From the data,it can be deduced that the development of Chinese real estate industry is mainly aboutthat of tertiary industry in recent years and it is gradually getting away from thedependence on heavy industry. Besides, the association degree between the real estateindustry and other industries tends to drop to an average level. In particular, theimportance of the association between financial and real estate has declined. Meanwhile,the association of real estate and other industries is a mostly two-way relationship,which illustrates that the linkage between the real estate industry and others has beenchanging along with the economic development, the relationship among socialindustries are becoming close and in-depth, and social development needs coordinateddevelopment of all industries.For the regional comparison of real estate correlation degree, it analyzes thedriving effects of the real estate on regional economics among typical regions, namelythe East, the Middle and the West in China. Besides, it performs contrastive analysis on regional real estate correlation degrees, and concludes reasons of the disparity. Throughthe analysis of economic development of whole China and of Shanghai, Hubei,Chongqing as well as the analysis of the development of real estate over the years, itillustrates that there are certain regional differences in the development of Chinese realestate industry. And there is a certain relationship between real estate development andeconomic development in various regions. In the regions where economic developfaster and better; the development of real estate industry is also more prominent whilein the regions which are lagging behind in economic development, the real estateindustry is relatively backward.For the issue of real estate industry promoting the urbanization process and itsspreading effects, it does empirical studies with econometric software Eviews6.0onurbanization rate, commercial housing sales and real estate investment during1994to2012in China, doing empirical researches on two perspectives; basic linear relations,VAR model and Co-integration Test. Studies show that the level of Chinese real estateindustry and of urbanization is rising. For the growth speed of real estate investment andurbanization rate, the former is faster than the latter. It shows a certain correlation, forwhich they present a mutually promoted causality relationship. For sale area ofcommercial housing and the urbanization rate, both of them maintain a relatively steadyupward trend and present a significant correlation.Finally, it analyzes the social employment absorption capacity of the real estaterelated industries by employment output value coefficient. At the same time, this papertries to find out social employment levels indirectly driven by the real estate industry bymeans of calculating elasticity coefficient of employment output value. The study showsthat the real estate industry and other industries have both forward and backwardlinkages, owning to which a majority of industries can be promoted. Nonetheless thereal estate industry exerts negative effects on minor industries, inducing relativelymodest employment growth as the added value of real estate industry going up. |
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