The Development Of Housing, Consumer Credit In China And Its Countermeasures

Finance is the core of modern economy and housing-orientedfinance correspondingly is the core of housing industry. Afteryears of town-housing-system reforming in china the ultimate reform pattern has already been set up and the new system isapproaching perfection. A simple review , however, could tell many measures we adopted in the housing financial system reform process have failed to work well. Among the measures are the experimentson china with Singapore Central Provident Funds system, American mortgage loan system and German housing financial associationsystem and the kind alike. To be honest, we are in the preliminarystage of housing consumption financial development. One importanttask ahead therefore is to set up an effective and perfect housing financial system ,which should conform with the current nationalsituations and the new town-housing-system.The current housing market demand in china is very strong and the market flourish on the whole, which signal that the housingindustry is going into a new development circle. In order to maintain the good situation ,to provide an efficient financial system is more urgent than ever before.The paper, as a applied one in economics, is based on the combination of theory and practice.Having absorbing someexisting research achievements , the writer regards the compliance of housing financial system with the basic situations in chinaas the cornerstone.The paper is comprised of four parts. The chapter one gives a brief look at the recent developments of the housing consumption loans in china and point out some main deficits.After decades of operation, the three typical housing financial systems, namely that in America, in Germany and in Singapore, may provide us lots of successful experience. The second part put its emphasis on the three systems mentioned above.The paper believe that the most important lesson we got is the best housing financial system is the most suitable one for aparticular nation.In the context of the second chapter, the chapter three mainly deals with the goals of housing financial system reform and theprinciples to achieve them.The paper firstly analyze some important factors which would exert great influence on housing financial reform and development.The writer insist that theperfect housing consumption financial system in china should be in line with the national situations and market-oriented economy system and have commercial housing consumption loans as itsinfrastructures Two principles make the goal: the first, market mechanism works fundamentally; the second, the government shows its activeness when necessary.The final chapter presents some proposals on how to make the existing institutions perfect. These proposals are shown here, to make the mortgage loan styles more suitable and more diverse. to develop mortgage loans insurance market greatly; to implementhousing mortgage-backed securities (MBS) at the right time: toreform the current housing residual fund systems.It should be pointed out clearly that the perfection of housing consuming loans system is a long and step-by -step process. There surely are many theoretical fields waiting for furtherexploration.