Advices On Enhancing The Effect Of Real Estate Sector Macro-control In China

Under the circumstance of rapid economic increasing and urbanization, as a sector which is concentrated with importance and particularity, real estate sector plays a more and more important role on promoting economic growth, relieving the employment pressure, promoting the tax income and ensuring the fiscal revenue. On the other hand, the sector has received more attention from the government for its particularity on the people's livelihood, so it becomes one of the main sectors that are with sustaining macro-control these years. Nevertheless, the real estate sector has met with lots of contradictions and problems because of the late start of the market-oriented reform, the weak reform foundation, the insufficiency of the government regulation experiences. In accordance with these problems, the sustaining macro-control has received essential effect on coping with these and promoting the healthy sector development indeed, but it always seems so difficult to solve the rudimentary problems such as extravagant property price, the excessive rising rate, the increasingly widened imbalance between supply and demand, the fiercely rising of the land price and the slow progress of the government-subsidized houses etc., besides, lots of potential problems are becoming more and more serious, including the hot money's entering on a large scale, the non-abnormal investment on the land and houses, the potential market rules'forming, the increasingly complicated benefit dice game, the collusion of government officials and market merchants, the inefficiently policy executing, and the disarray of the government-subsidized houses etc., Not only these have seriously affected the effect of the real estate sector macro-control, but these will definitely affect the effect of the regulation in days later and affect the proceed of realizing a healthy sector situation. This article analyzes the effect of the previous real estate sector macro-control using of precise and detailed data, aiming at finding the deep causes that affect the regulation effect in China, then carries out relevant academic theories and the regulation experiences from other countries, and finally concluded the advices on enhancing the effect of real estate sector macro-control in China. The author hopes that it can attract more attentions to the effect of real estate sector macro-control from experts of all levels, bringing out more and better advices to enhance the regulation effect and realize the healthy sector development finally.This article is divided into six parts.The first part is theoretical study on the real estate sector macro-control, including Public Choice Theory held by James Mcgill Buchanan, the Market Failure Theory, the Property System Theory held by Ronald Harry Coase and the Third Way theory held by Anthony Giddens.The second part mainly introduces the basic development situation of the real estate sector in China since the reform and opening-up, including the important position it is holding in the national economy and the three different periods that it has experienced.The third part introduces the real estate sector macro-control practices since the reform and opening-up, mainly divided into four periods according to the different regulation goals, the macro-control practice between 2003 to sep.2008 and sep.2008 to 2009 are the main periods here concerns most. After this, the article objectively analyzes the effect that each regulation period has showed with the help of quantities of detailed data. The analysis of regulation effect showed between 2003 to sep.2008 is the main part here.The fourth part deeply analyzes the intensive causes that have affected the effect of the real estate sector macro-control, mainly analyzes from two perspectives, the policy-based factors and the non-policy-based factors.The fifth part studies the real estate sector macro-control experiences that the countries abroad have concluded.The sixth part is based on the guidance of academic theories, the actual situation of the real estate sector macro-control in China, the regulation experiences concluded from the countries abroad. Then here brings out the advices to enhance the real estate sector macro-control from four aspects, including reconstructing the real estate legal institution situation, reconstructing the real estate tax system situation, reconstructing the market formation situation and reconstructing the real estate power counterbalance situation.