Research On Government Intervention In The Development Of Shanghai Housing Finance

As one of the focus concern among Shanghai citizens, housing finance has already become a hotspot of financial industry. Yet it is still suffering from the growing pains, which include: market failure due to defects in market mechanism and government failure due to defects in government mechanism. By integrating theory with practice, and comparative study, this paper is mainly focused on the research of government intervention.First of all, this paper clarified the concept of housing finance, identified it from estate finance. Furthermore, it demonstrates the importance of government intervention during housing finance by researching and summarizing the government historical experience from home and abroad. comparing and referring to the experience of foreign government intervention in housing finance, this paper studied government intervention in the development of Shanghai housing finance on the basis of the theories of market failure and government intervention. The research content includes: the settlement of market negative influence, market failure and government intervention failure. This paper also provides specific proposals on how to improve the Legal and Administrative Systems, how to promote secondary market, how to expand the dwelling house financial service to residents with medium and low income, how to reinforce housing market administration, etc.The main purpose of this paper is first to call government attention to the importance and urgency of improving housing finance market mechanism and supervising the act of self-intervention; Second, to provide a reference for the government regarding to the development strategy of Shanghai housing finance industry.