Empirical Analysis on Stock Market and Real Estate Market Wealth Effect in China

Based on the Modigliani's Life-Cycle Hypothesis of consumption,and relevant data,the paper empirically studies stock market and real estate market wealth effect in China by using the method of unit root test and cointegrating regression.The results show that,regardless of short-run effect and long-run effect,the stock market wealth has significantly negative effect on civil' consumption level,but real estate market wealth or housing market wealth has significantly positive effect on civil' consumption level.     

Influence of Real Estate Mortgage Reform on the Chongqing Real Estate Enterprises and Countermeasures

In this paper, primarily, the real estate mortgage reform by the Central Bank of China is introduced. The influence of the reform on Chongqing Real estate enterprises by analyzing the problems existed in real estate development in Chongqing is expounded. To decrease the influence, the developer and the government should make efforts together. For the developers, they can find more ways to finance the projects, optimize the products supply system and strengthen the risk-resisting abilities. For the government, it should find all the ways to create a suitable external environment for the real estate market.     

Theory On Internal Control In The Real Estate Enterprise

Whether the international economic and financial environment pressure or domestic economy grows dynamical inadequacy suggests that the economy may enter a downward cycle in 2012. Policy is still the most important factor which will determine the trend of the real estate market. In the face of tighter monetary environment, limiting the purchase, credit limit, limit and strict regulation of real estate and the rapid growth of the low-income housing supply, housing price quantity fall into a downward trend, market situation is complex and severe. Strengthening the construction of internal control in the real estate enterprise is effective means to manage enterprise strictly, innovate in management, improve management efficiency ,prevent various risks, achieve business objectives and goals .Through the internal control principle in the real estate and the necessity of analysis , the paper presents the main control measures in the real estate development process.     

Instruments for Shifting the Risks of China's Housing Finance

In order to shift the risks of housing finance, thus support the development of housing finance in China, this paper puts forward two patterns of instrument for shifting the risks: market transaction and non-market promise on a voluntary basis.     

New Financial Tool of Real Estate - Real Estate Investment Trust

The real estate investment trust (REIT) as a new tool of real estate investment is introduced in this paper by the way of analyzing the status quo of real estate circulation funds. The importance of developing REIT in China is analyzed. Referring to the foreign experience, the basic principles, classification of REIT and the different characteristics for the investors and the real estate companies are introduced. The difficulties in developing REIT in the capital market and in the investment market in China are discussed. The countermeasures to deal with the situation are presented. REIT is valuable in forming the real estate investment market and healthy development of real estate.     

城乡统一的不动产拆迁与征收制度构建研究

为了解决当前中国在城市房屋拆迁征收与农村土地征收中的制度与政策差异导致在不动产征收过程中出现的一系列问题。运用伦理学和法理学的系统分析方法,对中国城乡分割的不动产拆迁与征收相关法律进行了研究。结果表明：（1）当前中国不动产拆迁与征收制度主要存在集体土地所有权主体弱化、城乡土地用益物权征收与补偿标准不一致、征收公共目的性依据不足、补偿标准理论依据欠缺、征收补偿程序缺乏司法救济等问题;（2）现行中国财产权法律保障体系为城乡统一的不动产拆迁与征收制度构建提供了坚实的产权法理基础、补偿标准同一化基础与现实基础;（3）通过不动产物权权能构成与性质完善、不动产拆迁与征收程序等法律规范和补偿评估标准的改革。建立城乡统一的不动产拆迁与征收制度,可以充分有效的保障被征收人的核心利益,从制度上解决土地征收与房屋拆迁中的激烈矛盾和现实问题。     

Cost Management of Real Estate Development

After China's entry into WTO, some well-rounded foreign real estate agencies and home financial company have entered into China's real estate market. Encountered with gradually matured market, the real estate enterprises pay more attention to the issue of how to preserve the biggest profit space. In this paper, the cost management will be investigated deeply and related measures will be put forward. This paper follows the principle of standing out the emphasis and exploring deeply the essential problem. With the theory-coupled-examples method, the fundamentality of cost management in decision-making and programming design stage is studied. The object system method is used to evaluate the quality of the decision-making and using compound engineering designing principle to manage the cost. The results prove that the decision-making as well as programming design stage is the key of cost management, which should be taken seriously by China's real estate enterprises.     

论乡村产业振兴

当前,全国上下正在全力推进乡村振兴战略的实施。乡村振兴,产业兴旺是重点。如何实现乡村产业振兴、产业兴旺,这是值得研究的紧迫而现实的重要问题。本文首先从乡村产业振兴在乡村振兴战略中的地位与作用入手分析,对新中国成立70年来中国乡村产业发展的历程进行了简要回顾,并将其划分为4个发展阶段：第一阶段：1949—1977年,传统产业缓慢发展;第二阶段：1978—2000年,乡镇企业异军突起;第三阶段：2001—2011年,新型产业不断涌现;第四阶段：2012年至今,乡村产业绿色“转型”。同时也指出了当前中国乡村产业存在的突出问题,即：产业门类少、生产规模小、产业层次浅、产业链条短、生产效率低、特色产业弱、品牌产业缺、产业环境差、产品质量低和缺乏竞争力。最后,针对上述存在的问题,提出了实施乡村振兴战略、实现乡村产业振兴要遵循的6大原则和10项具体措施,以期为推动实施乡村振兴战略做出积极贡献。     

The Purchasers'' Risks and Its Precautions in the Pre-Selling of Commercial Houses

With the development of innovation in economic system,the real estate business became more and more active in recent years.In order to fit the innovation in housing system,the commercial housing pre-selling emerged,as the times require.Because the commercial housing pre-selling is still in the first phase in China,and the legal relations of the business are comparatively complicated,the legislation is not perfect correspondingly.So there are some new problems in the pre-selling of commercial houses.Hence the purchasers' risks and the precautions in the pre-selling of commercial houses are discussed in this paper.     

经济新常态下地方政府"土地财政"转型路径探析

为了提高经济发展质量,适应经济新常态下经济增速放缓,逐步降低地方政府对土地财政的依赖程度,研究探索新的土地财政方式。运用数据分析法、实证分析法等方法,对中国土地财政的产生及影响、经济新常态下地方政府对土地财政的依赖性进行分析。探索出适合现实情况的土地出让金制度、为中国现行城市化评定标准引入更多的参考依据以及加快开征房地产税等渐进性的土地财政转型路径。以期在土地财政转型期间地方政府有较为充足的财政收入,为发展实体经济提供一定的保障,助推中国经济发展质量提升。     

Development And Countermeasure of Timeshare Estate

In this paper the concept and active impaction on economy of timeshare were introduced. According to supply, demand and basic condition, developing timeshare estate were provided with basic condition in China. Analyzing the history of timeshare we can get the conclusion that it was unused real estate to startup the timeshare and so the development of timeshare in China have partly active effect. At last, in this paper the policy risk, consumption anticipation risk, lack of demand risk, product design risk, market orientation risk, system management risk, competition risk, internationalization risk, and market impression risk were analyzed except the market risk, business risk and polity risk and so on which were the common risks of real estate. And the countermeasure and measure how to promoting the development of timeshare estate were put forward.     

Asset- backed Securization--a New Way to the Solution of Finance Problem in Real Estate

In recent 30 years, the asset-backed securization is one of the most important innovations in the international finance field. It promotes the quick development of the capital market. At present, on the one hand most of the Chinese real estate development companies are lack of financial support, on the other hand, the inland commercial banks are facing great potential finance risk. In this paper, how to get rid of the current contrary situation by the financing mode of asset-backed securization is discussed.     

Real Estate Appraisal Enterprises to be Standardised

Although it is not long since the Chinese real estate appraisal agencies appeared in China, they have been developing quickly. With the increase of real estate appraisal portfolio, the number of real estate appraisal agencies in the market also increases. However, because of the loose management in this field, there are many operation that are not standard and not allowed by the operating rules. This paper tackles this problem on the basis of the special relationship between real estate appraisal agencies and banks, analyzes the present situation in this field in detail and puts forward the strategies accordingly.     

Main Influences of Credit and Loan Adjustment Policy on the Real Estate Enterprises and Their Countermeasures

In conjunction with the current situation of the real estate market in China, the main influence caused by the credit and loan adjustment policy is analyzed. On this basis, it has proposed some suggestions on how to strengthen the competitiveness and ability to resist risk of the real estate enterprise. At the end, it is emphasized, that the credit and loan adjustment policy not only makes the enterprise under enormous pressure, but provides a great opportunity of reducing rivals and expanding its own scale to those really powerful real estate enterprises. The real estate enterprise should seize this opportunity to meet the challenge to expand and strengthen itself.     

Potential Homebuyer''s Preference in Chongqing

Manufactured Affordable Housing (MAH) is recommended to address the mismatch between demand and supply in the housing market in Chongqing, which is the fourth metropolis in China and has huge housing demand due to a gigantic population of 30.6 million. A model for massive housing production needs to be developed in order to determine the potential homebuyers' preferences. A questionnaire is designed as a tool to retrieve the factors, which affect the potential home buyers' behaviour, the necessary information about their perception for the housing market, their preferences for housing, and to describe the adoption of suitable housing under the main topic of "MAH in Chongqing". This paper aims to highlight the factors that affect the purchase of housing and the preference of the potential homebuyers in Chongqing. The overall research objectives are to use the concept of MAH to examine the feasibility and viability for its use in Chongqing, and to design a suitable type of MAH for use in Chongqing, by maximizing the use of indigenous resources from the region as one of the major considerations. At this stage, investigation has been carried out to identify the basic characteristics of the construction industry in Chongqing to set the scene for the housing research. This paper is mainly to identify the potential homebuyer's preference and their demand for home purchase in Chongqing.     

A Study on the Phases Division of Real Estate Project Life Cycle in China

Recently,many large and medium-sized real estate companies in China have attempted to construct a standard project management system regarding project culture,organization and value chain,to enhance their ability of integrating resources and effectively delivering projects.An appropriate definition of project phases is the base of standard management for these enterprises.According to the existed literature and the observation of some real estate companies,a Six-Phase(SP) approach is presented.The method standardizes real estate project in China by dividing a project life cycle into six phases.A case study shows that the six phases correspond appropriately with those suggested by the departments of four real estate companies.An industry survey by means of questionnaire has also been conducted.The respondents,most of which are the CEOs from 50 real estate companies in China,agreed that this approach is reasonable and acceptable.     

Research on Calculating Method of Capitalization Rate in Real Estate Appraisal

In order to formalize China's real estate appraisal, an examination and registration system for real estate appraisers has been put into practice. China Institute of Real Estate Appraisers has edited a series of textbooks for this purpose and the standard rules and specifications for real estate appraisal are available. During reading the text book as well as the rules and specifications, the author found that there are some mistakes and uncertainty in the formula of overall capitalization rate. Because of its sensitivity to the value of real estate, it is extremely important to use correct overall capitalization rate. Based on the information collected, the author has systematically analyzed the overall capitalization rate formula, and clearly defined the concept involved. In this paper, it is expected to provide some insight into the improvement of real estate appraisal theory in China and offer some valuable reference for real estate practice.     

华北平原禹城市耕地质量动态评价

研究旨在揭示华北平原禹城市耕地质量动态,以期为平原区耕地利用与农业可持续发展提供借鉴。基于采样、观测和统计数据,采用隶属度、主成分分析和综合指数方法,对禹城市2001、2009年两期耕地质量进行了动态评价。结果表明：2001年耕地自然、生态与经济质量分别以一二三四、二三四和三四五等为主。2009年一二等耕地比例相对于2001年有明显提高;两期耕地质量等级分布格局类似;从2001年到2009年,禹城市推行的“测土配方施肥”、“生态农业园区”等项目使得较大面积耕地从三四等转换为一二等,且等级提升存在明显的区域差异。基于多源数据与综合指数模型的耕地质量动态评价能较好的揭示区域耕地质量自然、生态和经济属性的空间分异与动态变化特征。     

Discussion on Whole Process Marketing Strategies System of Real Estate

In China, the spare commercial housing area is continuously increasing at present. But most people don't satisfy their present living conditions, they want to enlarge the housing areas and to ameliorate their living environment. So there has a contradiction between the people's living level and their requirement. In this paper the whole process marketing strategy system of real estate was put forward to solve the problem. That is, a series of marketing strategies such as pricing strategy, promotion strategy etc were suggested.     

Analysis on Location Selection for Real Estate Development Based on Set Theory

In order to increase the early decision-making accuracy of the real estate development and lower the overall risk of real estate investment, this paper explored the locations for projects of real estate development in the aspects of theoretical methods and technical levels. The evaluation system of housing project sites was established. It constructed the set model for real estate development projects and studied the concrete operation of the model in practice with a prac- tical example with the rough set theory. The test results showed that the method can reduce impacts from the experience and subjective awareness of decision-makers and increase the accuracy of location decisions.