Why not blow down the financial turmoil in China property market
Changes in the Central Plains Central Plains real estate real estate 15 years of development cum Exhibition "at the start this week," Central City Bank Forum "at the same time," East real estate "People began to launch series of interviews, select the Central Plains real estate representative characters and real estate enterprises responsible person interview, recalling the development of the Central Plains real estate for 15 years.
Henan Province in Central China Real Estate Chamber of Commerce 15 years of real estate development, from scratch, from weak to strong, real estate companies on behalf of the Central Plains is playing an increasingly important role.
This issue, the real estate industry in Henan Province Chamber of Commerce, the Secretary-General Zhao to Beijing to accept the "Eastern real estate" interview with reporters, he said, 15 years of development, has given way to real estate as a barometer of the national economy, but also an attractive domestic and foreign hot money an important area. Pivotal position to make this industry into a new economy, blowing hot and cold in the promoter.
China's economy "of last resort"
Eastern real estate: the face of sweeping global financial crisis, China's economy had slowed down. However, in sharp contrast with the real economy is just experiencing a temporary real estate slump after a strong recovery. The most important reason?
Zhao to Beijing: Behind the economy is political, the GDP "Paul 8" political needs. The economic base determines the superstructure. The face of financial crisis, the whole world is watching China, emerging economies, the GDP "Paul 8" to the Chinese people not only confidence in the government, also related to whether China can lead the recovery in the financial crisis and the world to confidence.
As the real estate association is strong, with wide, real estate has become China's "last resort", so, from central to local governments at all levels have expanded the real estate investment, in order to stimulate rapid economic recovery.
Real estate also influence local government performance. China urban construction, economic development depends heavily on real estate driven, at all levels of local government official term, it must develop the economy, revitalize the party.
However, in the case of the current financial crisis, real estate has become the only engine driving economic development, local governments are using all possible resources to investment, and even some of the principal leaders of the work personally, travel extensively promote local resources and policy environment advantage to attract good local real estate companies to invest in the development, in order to speed up infrastructure construction, improve the rate of urbanization.
Real Estate Chamber of Commerce of Henan Province for governmental investment to help more than 20 times, signed a contract to help a total investment of more than 200 billion yuan. The first 10 months of this year, 31 provinces and municipalities in 29 provinces and cities are in real estate development and investment growth in the state, the highest growth rate of 53.3%, showing that the local government's emphasis on real estate development.
Meanwhile, local governments dominated the real estate development. A land market in China is absolutely controlled entirely by the local government, while real estate development project is fully administrative examination and approval by the local monopoly power.
Local government areas in the real estate development to get the two huge benefits, one land revenue; is to develop part of the tax revenue. In October, the country launched 60 major cities of the land 982, the chain increased by 8%, an increase of 94%; launch area of 53.48 million square meters of land, the chain increased 24 percent, an increase of 169%.
While the tax revenue is substantial, this year, a developer of Jiangxi announced the list of real estate costs, which, at all levels of tax administration in 20% of them do, but also excluding land transfer income.
Real estate "The situation of a whole"
Oriental Real Estate: CASS has estimated China's 2009 GDP growth of imports and exports on the contribution rate will become negative, real estate and exports will be the two main engines of China's economy.
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