A Study On Institutional Defects And Countermeasures Of Developing Large-scale Commercial Facilities In China

Recent year, under the influence of the China "Open" Market Policy, the commercial realestate market has grown rapidly. During the process of rapid development, there are manyproblems, such as incorrect construction layout of commercial centers, over investmentgrowing of large-scale commercial facility, unreasoning and reduplicate constructionalphenomenon, and so on. In all these, the defects and problems of developing large-scalecommercial facilities have been a serious issue. It has been attention by many differentcorrelate countries departments and also academic scholars.This paper focuses on analyzing the defects and problems of developing large-scalecommercial facilities and developing the corresponding countermeasures. None of thelarge-scale commercial facilities development is independent without the basal constraint ofinstitution. The pre-requirement for an efficient institution is a well performing economymarket system.By innovating employ the institutional economic method as the analytical foundation, thepaper has done a comprehensive analysis in commercial property from the view of macropolicy. The paper has analyzed and indicated the institutional defects in three perspectives.First, in the government's perspective, it analyzes the defects from the commercial legalsystem and the commercial real estate financing system. Second, it analyzes the defects fromproperty right legal system in market's perspective. Final, it analyzes the defects which appearin the execution from the implementation's perspective.Base on the framework of analyzed results, it can construct "The developing large-scalecommercial facilities management system". In other words, it helps to improve the institutionof "The developing large-scale commercial facilities" including improvement of governmentlegal control system, construction of an efficient market system, and build a perfectimplementation mechanism system.