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Financing real estate in China: the development of a real estate investment bond market in Tianjin

Financing real estate in China: the development of a real estate investment bond market in Tianjin

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

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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
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Pre-2014 Departments: School of Architecture, Design & Construction
School of Architecture, Design & Construction > Sustainable Environments Research Group
Related URLs:
Last Modified: 14 Oct 2016 09:15
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/5901

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