Tag: Chinese Construction Industry

Chinese Construction Industry

Real Estate Dissertation Housing Bubble in China

Causes and Determinants of Real Estate Bubbles in China – A Study into Beijing

The real estate market of Beijing is under investigation in order to find whether there is a potential housing bubble in China. Housing bubble as a phenomenon will be analyzed. Furthermore, the residential market of China and whether various programs for the housing policy affect housing market are presented, especially during the period 1998-2014. The Ηukou registration system gives interesting information about the housing market, the central government’s policy, and its reaction and ability to cope with a housing bubble. Ηukou registration number defines whether an individual comes from a rural or an urban area, as well as the locality.

The urban and rural residents with agricultural or non agricultural Ηukou have different rights, and thus different chances for housing, especially in large metropolitan areas like Beijing. The connection of the four state owned banks with the housing market and their reaction to the house price changes during our period of interest is analyzed. The banks reacted without taking into account the risk, because they think that they are too big to fail. Volatility is also analyzed because it is important to find the reasons behind the changes in house prices. House price volatility forces households to buy a house to live in so that they could avoid the fluctuations in house prices, and a potential price increase. Regions in Beijing do not have the same property characteristics and potentials for a real estate bubble.

Housing Bubble China Dissertation
Housing Bubble China Dissertation

The results from the research of the secondary data are presented, with some final discussion. The answer for a housing bubble in Beijing is not crystal clear. Various findings support the existence of a bubble and some others do not. Although Beijing and regions in Beijing show a house price trend above the equilibrium price, the political status quo is special. In addition, it depends on the way data are collected, the availability of data, as well as their validity. It also depends on whether we have unclear property rights, housing inequality, and not a wide freedom of choice for the households.

While there are many factors that contribute to the formation of housing bubbles, as it is a very complex phenomenon, the present dissertation is focused on some important issues revealed from the literature review. Specifically, the above hypothesis is tested considering the following issues:

  • The correlation between potential real estate bubble and changes in housing prices in Beijing
  • The correlation between potential real estate bubble and housing prices volatility in Beijing
  • The role that the banking sector plays to the potential real estate bubble in Beijing
  • The readiness of Chinese authorities to deal with a Real Estate bubble
    The so far reaction of Chinese authorities to imbalances and housing price volatility
  • The correlation between the residential market in China and Beijing and a potential real estate bubble
  • The correlation between the Hukou system in China and a potential real estate bubble

Housing Bubble Dissertation Contents

1: Introduction
Rationale
Aim and Objectives
Hypothesis
Dissertation Structure

2: Literature Review – Housing Bubbles
Definition of Bubbles

3: Literature Review – The Role of House Prices and Volatility
Changes in Housing Prices
Volatility

4: Literature Review – The Role of the Banking Sector
The Banking Sector in China

5: Literature Review – The Role of Chinese Authorities
Government Involvement in Urban Housing
Government’s Reaction

6: Literature Review – Residential Market in China and Beijing
Residential Market in China and Beijing – A Historical Perspective
Housing Provident Fund (HPF)
Economical and Comfortable Housing Program (ECH)
Cheap Rental Housing Program (CRH)

7: Literature Review – Hukou Registration System
Description of Hukou Registration System
Housing Finance System
Inequality in Beijing

8: Research Methods

9: Data Analysis
Is There A Potential Real Estate Bubble In Beijing?

10: Conclusion

References

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Chinese Construction Industry

An Examination into Information Technology and Competitive Strategies within the Chinese Construction Industry

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This post evaluates the use and deployment of technology within the Chinese construction industry. As competitive environments are constantly changing in the contemporary business world, managers are devising various flexible approaches to respond to such uncertainty and complexity. Deploying strategic information systems is an important approach to address such the challenges of flexibility in business competitiveness. During the 1980s and 1990s, we saw considerable financial investment into business IT in search for “competitive advantage” in various industrial markets. There were many academic papers as well as consulting reports studying the competitive benefits of IT in business in order to persuade firms to invest in strategic information systems. Many business company sought to replicate the success stories of IT enabled business strategy, such as United Airlines, Thomson Holidays and all the other celebrated cases that have entered the information systems mythology. Although the last three decades have seen the high speed growth of investment in information technology by companies, the exact way of getting competitive advantage through information technology is still vague and hard to be concretely grasped. Large investment of information technology is also accompanied by over evaluation of IT and decline in organizational performance, as shown in many cases of failure in IT strategies. Especially in developing countries, many companies are trying to learn from economically advanced economies and initiate their large investment in information technology in order to improve their competitive advantages.

Chinese Construction Industry
Chinese Construction Industry

The rate of failure is particularly high in such developing countries. This increased uncertainty suggests the need for improved strategic planning and management of information systems, and the need for consideration of local socio-economic environments. The aim of the dissertation is intending to study the information technology strategies in a typical construction company and develop a deeper understanding of how information technologies create new competitive advantages for construction companies in Chinese context. The need for a link between information technology (IT) use and business strategy in construction industry has been identified and discussed over a number of years. The objectives are threefold in this dissertation. First, I will have a literature review of current research on IT strategies, competitive advantage and IT in construction industries. Secondly, I will conduct fieldwork in a Chinese construction firm, collecting data by questionnaires and interviews, trying to understand the current situations of IT adoption within the Chinese construction industry. Last but not least, I will present an analytical framework which is used to analyse the IT strategies in Chinese construction companies.

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