| Author: | Chan, Yau-yau |
| Title: | A study of real estate development in China by Hong Kong developers |
| Degree: | M.Sc. |
| Year: | 2000 |
| Subject: | Hong Kong Polytechnic University -- Dissertations Real estate developers -- China -- Hong Kong real estate development -- China |
| Department: | Multi-disciplinary Studies Department of Building and Real Estate |
| Pages: | xii, 146 leaves : ill. (some col.) ; 30 cm |
| Language: | English |
| Abstract: | China experienced fast track growth on economic since open door policy on 1978. Annual GDP growth at average rate of 10.8% from 1991 to 1998 and reached Rmb 79,396 Billion in 1998. Due to vast domestic market and improving investment environment, foreign direct investment (FDI) has been flowing into China. By the end of 1998, China had contracted and actually utilized foreign capital of US$632 billion and US$585.6 billion respectively. FDI in China has also diversified in terms of industries. Since 1992, FDI in the tertiary services sector has risen rapidly to account over 37% of China's cumulative contracted FDI in 1998. Tertiary services industries which attracted the largest amount of FDI include property development, transportation, energy supplies, food catering and retail distribution. The agreement and actually used amount of FDI on real estate trade in 1998 were US$66.48 billion and US$64.1 billion respectively. Hong Kong has always been the largest source of foreign investment in China. By the end of 1998, the numbers of approved projects with direct investment from Hong Kong were 172,776 in total with an agreed investment amount of US$282.9 billion and the actual amount invested reaching US$124 billion for all sectors. Hong Kong investments in the Mainland are basically concentrated in the Pearl river Delta Region due to its geographical proximity and social ties. As a result of opening up of other provinces and the services sector, Hong Kong investment in the Mainland have been diversifying in terms of geographical and sectoral distribution. Since 1978, Hong Kong Developers were undergoing the real estate development in China, especially in coastal and main provinces such as Beijing, Shanghai, Pearl River Delta, Guangdong, etc. The trend is increasing after Hong Kong was Handover to China as a Special Administration Region (SAR). A research is carried out to study the characteristics, development procedures, facing problems and future potential for real estate development in China. A survey using Questionnaires, an actual case study of Beijing and Hong Kong projects and detailed case study in Guangdong real estate development were the methodology on research. The following conclusions are found in the research: (1) Many Hong Kong developers are participating on China real estate development in various extent. A potential real estate market exists in China due to the impact of changing housing policy and admission to WTO in China. (2) Development procedures and practice in China real estate development are complex and involved more parties than Hong Kong practice. Detailed comparison on real estate development procedures between Beijing and Hong Kong is demonstrated. (3) Criteria of Hong Kong developers in selecting the locations for real estate development are stable economic growth, population, resident 's incomes and savings and foreign direct investment as similar conditions in Guangdong. |
| Rights: | All rights reserved |
| Access: | restricted access |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| b16590260.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 7.58 MB | Adobe PDF | View/Open |
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