Analysis On Sustainable Development Of Real Estate Industry In China

In the world, real estate industry is one of the most ancient industries, but in new China, it only has a history of more than 20 years. Since 1978, along with the comprehensive reform of economic system, city-housing system, land use system and production method of real estate, real estate industry and its market started and gradually boomed in China."Like night of spring breeze comes suddenly, the splendid display of pear blossoms", under new historical opportunities and conditions, from coast to inland, from city to village, many places all had the scene of "real estate bloom", or "exploitation bloom". In recent 20 years, Chinese real estate industry maintains a quick development continuously. The ratio of real estate total investment to the entire social fixed asset total investment has risen from 5.6% in 1990 to 17.79% in 2005. Continuous and fast mounting up of real estate made it become the pillar industry, which impels the national economy to grow steadily. Statistical data shows that, the contribution rate of real estate industry in GDP growth of Shanghai and Beijing respectively achieves 7.4% and 5.2% in 2003. The development of real estate industry also greatly improves inhabitant's housing condition.Whereas, the real estate industry has exposed many shortage problems at the same time. Such as: excessive dependence on the bank loan during investment process, serious phenomenon of illegal land occupation in the exploitation process, frequent occurrence of structural unbalance, prominent lack of honesty during sale and service process, absence of effective methods and measures in macro– control and so on. In a word, all the problems existing in real estate industry are directly related to its short development history. At present, how to solve these problems and enable real estate industry to keep healthy, continual and steady development is the important task to be solved urgently both in theory and practice.This essay adopts the method of integrating qualitative with quantitative analysis, empirical research with theoretical research. Many productions of specialists and researchers are taken into account. Based on many facts and data, this paper provides a full and deep analysis on characteristic, status quo, and problems of real estate industry and its market. The main contents are as follows:In chapter 1, systematic conclusions of intension and characteristic of sustainabledevelopment of real estate industry are made after the review of home and foreign research achievements; Chapter 2 analyzes status quo and trait of Chinese real estate industry in 2005, from views of investment, exploitation and sale, three parts of real estate industry, with the help of massive graphs, as well as elaborates main problems existing in real estate market; In chapter 3, the gambling thought is used to divide the developing process of Chinese real estate market into three phases, according to the change of main market participators and their behaviors; Finally, in chapter 4 and 5, a system with 72 indices in research on sustainable development of real estate industry in china is established, and theories of Catastrophe, Cosines Vector Included Angle, Entropy and CRITIC are applied to appraise the current situation of sustainable development of real estate industry in 31 provinces and cities in 2004, then the consistency test of appraisal results is carried out by Kendall's Coefficient of Concordance and Spearman Correlation Coefficient.The innovation of this thesis lies in the following ways: introducing sustainable development thought into the research on sustainable development of real estate industry; with this basis, establishing a indices system to do empirical analysis of the development status of real estate industry in 31 provinces and cities of China.