Wang, J; Chen, J J and Isaac, D (1996) Financing real estate in China: The development of a real estate investment bond market in Tianjin. Journal of Financial Management of Property and Construction, 1(3), pp. 5-22. ISSN 1366-4387
Abstract
Following the establishment of the policy of reform and the opening up of the economy in the Peoples' Republic of China, the real estate industry has developed rapidly. Because of the dependency of real estate on the characteristics and immobility of property, the real estate industry has developed closely in relation to investment in it. With the scale of growth of real estate development, the problem of funding shortage has become more and more evident and this has now become a major restriction on the development of the real estate industry in China The paper takes Tianjin (one of the three municipalities under the direct jurisdiction of the central government) as its area of study. The paper examines the necessity for the issuing of bonds in the real estate industry to encourage funding; the feasibility of issuing real estate investment bonds and the strategies for such bond issues in Tianjin. The purpose of this paper is to examine ways to increase the funds thus widening investment channels and diversifying investment so that the real estate industry can establish itself. Because Tianjin has an important role to play in the economic development of China, it is a useful case study in understanding the development of the real estate sector in China.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | China, investment, funding, bonds, real estate |
| Index terms: | real estate development, China, municipality, financing, economic development, strategy, real estate investment, jurisdiction, real estate, funding, case study |
| Subjects: | legal systems, economic analysis, economic development, Geography, data collection methods, real estate economics, management, administrative law |
| Topics: | Urban Studies, Business Strategy, Research Practice, Legal Issues, Geographical Context, Procurement, Sustainability |
| Descriptive scope: | 3 PCE |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here