Research On The Influence Of High Housing Price On Manufacturing Structure Optimization

Since the implementation of China's housing monetization policy in 1998,the real estate industry has entered a rapid development track,gradually showing its pillar position in promoting economic growth.However,with the impact of the global financial crisis in 2008 and the general trend of China's economy entering the new normal,the hidden drawbacks of the rapid development of the real estate industry have become increasingly prominent.High housing prices have not only lowered the happiness index of residents' lives,but also intensified the industry to some extent.Hollowing dilemma.In this context,it is a hot topic to clarify the internal relationship between high housing prices and the optimization of manufacturing structure.Based on life cycle theory,non-deterministic consumption theory,industrial structure theory and industrial relevance theory,this paper analyzes the current mechanism of high housing prices affecting the optimization of manufacturing structure:from the demand side,housing prices will increase by changing household consumption decisions.Influencing the market demand for products and product levels,which in turn affects the manufacturing mode and production structure of the manufacturing industry;from the supply side,housing prices increase production costs(labor cost and land cost),squeeze manufacturing investment and even innovate Mechanisms such as investing in and changing the industrial structure of the manufacturing industry and reducing the efficiency of resource allocation affect the optimization of manufacturing structure.The empirical results show that high housing prices are not conducive to the promotion of manufacturing structure optimization.At the same time,the degree of government participation,the proportion of state-owned enterprises,and the asset-liability ratio will have an inhibitory effect on the optimization of manufacturing structure,while the improvement of household consumption level and technological progress are positive.To promote the optimization of manufacturing structure.Housing assets have both consumption attributes and investment attributes.The impact of high housing prices on the optimization of manufacturing structure is more complicated and multifaceted.Reinterpreting the synergistic development relationship between the manufacturing industry and the real estate industry is of great significance to the intrinsic motivation of the developed countries to "deviate from reality" and implement re-industrialization.It can also further understand strategically the manufacturing industry in China' s real estate industry.The urgency and arduousness of the strategy.This paper finds that promoting the coordinated development of the housing market and the manufacturing industry should focus on the realistic background of consumption upgrading,promote the wealth effect of real estate on household consumption,and guide the manufacturing industry to seize the opportunity of consumption upgrading to enhance the industrial structure;optimize the efficiency of market resource allocation.Further opening up the market,improving the efficiency of the financial market,weakening the suppression of land finance on the optimization of manufacturing structure;vigorously supporting enterprise innovation activities,increasing the added value of products,promoting the upgrading of manufacturing products and consumer markets;and building a healthy and stable development of the real estate market.A long-term mechanism to adjust the moderate fluctuations in housing prices,creating space for the optimization of manufacturing structure in the context of high housing prices.