Market Development In China

Presents the analysis of specialists on causes, benefits and problems resulting from China's transition to a market economy. This book deals with several facets of China's economic growth and its rising income inequality. It provides evidence on China's social and economic inequalities and their causes.

This is the first book to fully present, analyse and interpret the Chinese real estate market. Dr Junjian Albert Cao examines the Chinese real estate market’s growth trajectory, unique governance and factors affecting values and investment in the context of reforms, rapid economic growth and urbanization. The book provides essential insights into the institutional change surrounding the development of the property market, government intervention at local and national levels, taxes and other regulatory charges, and factors such as market practices, economic changes, government policies and social changes that affect the value of real estate. Furthermore, the book analyses academic and policy debates on issues such as: commercial property investment housing price inflation property rights protection affordable and social housing market practices and regulation environment and sustainability taxation property-led growth and the reliance of local economic growth on the property sector The book offers a comprehensive, in-depth and up-to-date account of the Chinese property market and presents a full assessment of the investment potential of Chinese real estate. It is a must read for students, academics and real estate professionals interested in this fascinating real estate market that has implications for Chinese and the world economies.

Based on case studies, this comprehensive review aims to explore the development of the private sector and how it stimulates industrial growth at regional level in China. The book traces the privatization mechanism and how it facilitates the process of industrialization and urbanization in rural China. The Private Sector and China's Market Development looks at the evolution of market transition and the rapid growth of the private sector from aspects of both bottom up and top down institutional innovation. It also provides a commentary of future development and innovation in the private sector. Covers one of the major parts of the Chinese economy, in the Yangtze River Delta region Draws on the author's personal experience of the economy, society and development administration in Jiangsu province and academic life in Zhejiang within the field of market transition in the Yangtze River Delta region Provides detailed studies and a comparison of the two most famous regional development models, of both the South Jiangsu model and the Wenzhou model, in the process of China's market transition and institutional transplantation

Radically reoriented under market reform, Chinese cities present both the landscapes of the First and Third World, and are increasingly playing a critical role in the country’s economic development. Yet, radical marketization co-exists with the ever-presence of state control. Exploring the interaction of China’s market development, state regulation and the resulting transformation and creation of new urban spaces, this innovative, key book provides the first integrated treatment of China’s urban development in the dynamic market transition. Focusing on land and housing development, the authors, all renowned authorities in this field, show how the market has been ‘created’ under post-reform urban conditions, and examine ‘the state in action’, highlighting how changing urban governance towards local entrepreneurial state facilitates market formation. A significant, original contribution, they highlight the key actors and their institutional contexts. China has been very successful in using urban land development as an economic growth engine, and here the authors investigate complex interactions between the market and state in creating this new urbanism. Taking a unique perspective, they marshal original ideas and empirical work based on field studies and collaborative work with colleagues in China.

China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.

China’s bond market is destined to play an increasingly important role, both at home and abroad. And the inclusion of the country’s bonds in global indexes will be a milestone for its financial market integration, bringing big opportunities as well as challenges for policymakers and investors alike. This calls for a good understanding of China’s bond market structure, its unique characteristics, and areas where reforms are needed. This volume comprehensively analyzes the different segments of China’s bond market, from sovereign, policy bank, and credit bonds, to the rapidly growing local government bond market. It also covers bond futures, green bonds, and asset-backed securities, as well as China’s offshore market, which has played a major role in onshore market development.

China’s economy has been transforming rapidly over the last 25 years. As a result, Chinese conurbations have changed remarkably, with cities expanding both vertically and horizontally, and the physical environment acting as a medium for unprecedented urbanization. This has provided vast opportunities for investors, real estate developers, and service companies, but also presents huge challenges—as traditional city spaces have been reconfigured, environmental risks and the volatility of real estate markets increased. However, as engagement with China is becoming strategically important for many, forming a synthesized lens through which to read China across the vicissitudes of its real estate sector bears historic significance. By offering an insightful framework and structure for understanding China’s variegated real estate dynamics, players, and markets, Understanding China’s Real Estate Markets codifies the principles and practices of real estate development, finance, and investment in China and builds foundations for future academic research and practical knowledge in shaping and engaging the urban environment within China and beyond.