The Study On Macro-control Of China's Real Estate Industry Under The Background Of Financial Crisis

As a leading industry in Chinese national economy, real estate industry is of strong driving force and is highly associated with other industries, playing a huge role in national economy. The issue of real estate is not only an issue of the industry, but also the one of national economy, or even the one of the whole society. In recent years, the situation that real estate investment is overheating, land prices rising, and house prices is soaring, has increasingly being accused. Although a series of macro-control policies had been issued by central authorities, they are not working to lead real estate industry go on the right track for healthy development.In the context of international financial crisis, real estate industry is supported by national policies in preference to other real entities. After our government executed a moderately easy monetary policy and a proactive fiscal policy, the real estate industry has been attracting a great deal of capital. That makes house prices, which was depressed lower by cumulative effect of early macroeconomic policies, are pushed again. Our real economy, especially the export-oriented business entity, is hardest hit in light of this global financial crisis. Before the real economy had not been recovered yet, there are some misunderstandings when macro-control policies to rescue the house market were introduced.First, this article describes the relationship between real estate industry and national economy. That is the interaction mechanism of real estate industry and national economy. Second, the paper introduces Chinese macro-control measures, including monetary policy, tax policy, land policy and other support policies, and their transmission mechanism on real estate industry. Then, analyze the way they affect house price trend, and how to achieve the purpose of regulating real estate market in use of macro-control policies. Review macro-control policies of the past several years, and analyze their effects based on times. When our economy was affected by the global financial crisis, our government adopted a series of rescue measures. Then summarize macro-control policies during this period, analyze the impact of policies on the real estate market. Next, describe current problems of real estate industry development in China. And,this article focuses on assessment of the effects of macro-control policies in this particular context. Finally, this article offer macro-control policy recommendations to ensure a healthy and orderly development of our real estate industry based on the previous analysis and current state. That can ensure our national economy operate fast and smoothly while affected by the global financial crisis.