Research On Performance Evaluation System Of Real Estate Corporation In China’s New Normal

In 2012,China entered the "new normal".The new normal is marked by three major characteristics.First,the rate of economic growth changed from high-speed growth to medium-high-speed growth.Second,the economic structure has been continuously optimized and upgraded.The tertiary industry and consumer demands have gradually become the mainstay.The gap between urban and rural areas has been gradually narrowing.The proportion of residents’ income has risen.The fruits of development have benefited the wider public.Finally,economic drivers are shifted from factor-driven to investment-driven to innovation-driven.The new normal has brought about new trends that have taken place in nine aspects,including consumption demand,investment demand,export and international income,production capacity and industrial organization,relative advantages of production factors,market competition characteristics,resource and environment constraints,accumulation and resolution of economic risks and resource allocation and macro-control measures.Because of those trends,the real estate industry,which is one of the pillar industries of the national economy,ushered in significant changes.These significant changes also include three major aspects.First,de-leveraged and risk-oriented financial regulations deepen and multi-angle tightening to limit or even cut off financing channels for real estate enterprises.Other government property market control policies are also escalating,continued to strengthen and formed a normalized,long-term trend.Second,because of the gradually increasing overall cost of land acquisition,the price-fixing,the purchase restriction and consumer’s growing needs of high-quality houses--especially the houses with high-quality supporting,the estate companies are facing three major sources of pressure.They have to reduce the number of unsold homes that consumers are not so interested in.They have to get the high quality inventories that consumers are interested in.And they also have to----An Example from China Fortune Land Development Co.,Ltd solve the cash flow problem.In the end,the small and medium-sized real estate enterprises accelerated their exit.Large-scale real estate enterprises opened large-scale mergers and acquisitions and other channels to strengthen their own anti-impact capabilities.All of these notable changes indicate that the simple and rude sheer expansion phase of the real estate industry has basically come to an end.The new normal of real estate characterized by quick turnaround,product differentiation and promotion,and absorbing and consolidating other enterprises’ market share will continue in the future for a long period of time.New normal needs new features,new features need new evaluation system.How to appraise the performance of real estate enterprises under the "new normal" objectively so as to excavate the features and avoid weaknesses and protect the real estate enterprises from surviving and developing under the "new normal" has become a focus of increasing concern in the industry.Based on the new view of "new normal",this paper analyses China Fortune Land Development Co.,Ltd,which has obvious characteristics in the real estate industry and also is the corporate champion of Industrial New Town,qualitatively and quantitatively by using a micro-innovation and micro-innovation performance evaluation system.This paper first sorts out the common performance evaluation systems of real estate enterprises in our country in recent years,and analyzes the applicability of each in the new normal.Secondly,in view of the applicability,this paper chooses the system which has the longest history of development in our country,the most extensive application,the highest availability and the highest inheritance.Through making some slight improvements and innovations of this system,this paper constructs a more comprehensive,objective and appropriate performance evaluation system under the new normal.Finally,using this performance appraisal system,this paper carries out a detailed analysis of China Fortune Land Development Co.,Ltd.And based on the results of the analysis,this paper gets some conclusions and suggestions.