| China had abolished the welfare housing distribution since 1998, and adopted a policy of housing commercialization. Then with the support of national policy and fast development of the national economy, the real estate industry has achieved great development in China. On the one hand, urban residents housing demand has been met significantly, the per capita living area increased from 18.66 square meters in 1998 to 34.66 in 2013, increased nearly doubled. On the other hand, real estate development investment proportion of investment in fixed assets is rising, the real estate industry’s keep pull in more than 1% of the economy, and has become the main constitution of our country’s economic growth. Under the new normal economic development, the sustainable, healthy and stable development of the real estate market, has very important significance for the healthy and stable development of national economy, for the smooth transition of economic structure in China.Since 2003, however, most of the city’s real estate market in our country exist problems such as overheated investment as well as regional, structural imbalance between supply and demand, prices rising too fast for the performance of the housing supply structure, real estate speculation demand, commercial housing vacancy phenomenon seriously insufficient and the coverage of affordable housing, etc. In order to promote sustained, healthy and stable development of the real estate market, the government issued and implemented a series of macro-control policies. From the overall effect, the real estate macroeconomic regulation, no doubt made certain achievements. However, the existing problems of the real estate market has not been radically improved, some cities still exist such problems as high housing prices, supply and demand imbalance. If these problems can’t be settled effectively, it will inevitably affect the efficiency of economic operation of the real estate market in China, cause the loss of social welfare level as a whole, and conduce the sustainable and healthy development of national economy. Therefore, in this paper, I try to analysis our country real estate market regulation policy impact on real estate prices mechanism and effect in theory and empirical, research the internal mechanism of regulation of the real estate market in China, and put forward my own opinions in order to improve our country real estate market regulation policy.This study is divided into five chapters. The first chapter is introduction which mainly elaborated the research background, research significance and research method of this article, and reviewed the related research at home and abroad. The second chapter studies the basic theory of the real estate market macroeconomic regulation and control in our country. On the basis of real estate economics, through detailed analysis of the real estate market failure area of the four aspects- the real estate market monopoly, externality, market information asymmetry and at all levels with the social security features of public goods, this paper expounds the necessity of regulating the real estate market. Then in the real estate market regulation policy influence the real estate price transmission mechanism are analyzed theoretically, which laid a theoretical basis for the following empirical analysis. The third chapter is an effect analysis of real estate market regulation and control policy in our country. First, a systematic review is made on China’s real estate market that has carried on since housing reform in 1998. Then regulation policy are divided into six different stages, and different stages are analyzed in detail from the background of the real estate, macroeconomic regulation and control, measures and control effect. Finally it points out the problems existing in the process of the real estate market regulation in our country. The fourth chapter is an empirical analysis that our country real estate market macroeconomic regulation and control policy influence the real estate price. An empirical analysis has carried on using the ECM model variables that our country real estate market regulation policy on real estate prices of different regulation effect in this chapter. The fifth chapter is to perfect our real estate market regulation and control policy recommendations. On the basis of the study in the previous chapters, the goals and principles of the real estate market regulation in our country is put forwards, and finally suggestions are given to perfect our country real estate market regulation policy. |
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