Research on the Causes and Countermeasures of China 's Real Estate Market Bubble

DOI

10.2991/iccessh-17.2017.190How to use a DOI?

Keywords

real estate; bubble; deleveraging; land transfer system; taxation reforms

Abstract

In 2016, the Central Economic Working Conference of China pointed out that we must adhere to sound monetary policy and guard against economic and financial risks, while at the same time maintaining a reasonable and adequate liquidity. At present, the asset price bubble is mainly manifested in the real estate, the bond market, the stock market and the foreign exchange market. This paper uses the three indexes of house price income ratio, multiple linear regression method and local equilibrium method to measure whether there is a bubble in real estate price. Then it analyzes the causes of the bubble in the real estate market from the aspects of monetary policy, asset shortage, land finance and financial support. At last, it proposes normalizing shadow banking supervision, urging financial institutions to deleverage, reforming the land transfer system, implementing tight monetary policy, promoting tax reform and other measures to curb the real estate market bubble, in order to guide stable and healthy development of the real estate market.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiangwei Xie
PY  - 2017/06
DA  - 2017/06
TI  - Research on the Causes and Countermeasures of China 's Real Estate Market Bubble
BT  - Proceedings of the 2nd International Conference on Contemporary Education, Social Sciences and Humanities (ICCESSH 2017)
PB  - Atlantis Press
SP  - 796
EP  - 799
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccessh-17.2017.190
DO  - 10.2991/iccessh-17.2017.190
ID  - Xie2017/06
ER  -