A Review of Shenzhen's Housing Reform
Author： Source： Date：2019-04-24
The past four decades witnessed Shenzhen’s boom from an isolated fisherman’s village to a metropolis, during which the city has always been the spearhead in China’s reform. In terms of the housing market reform, Shenzhen
1 broke away from the welfare housing system and set up the indemnificatory housing system
2 commenced the paid transference of land use rights and soon formed the commercial housing market
3 established the dual-track and three-category indemnificatory housing system
Nonetheless, Shenzhen inevitably made mistakes along the way of reforming the housing market. In particular, Shenzhen
1 made deviations in the direction of reform
2 did not reach the goal to build enough indemnificatory housing between 2005 and 2015
3 has been delayed in adopting effective macro-level regulatory policies to balance the soaring housing price
In retrospect, 2003 is a critical turning point, before which the reform has been successful. Shenzhen’s first attempt to reform the housing market set off in 1983, under the direct of Liang Xiang, then Party Secretary of Shenzhen. Li Hao inherited the legacy of his predecessor and unveiled the Housing Reform Scheme of the Shenzhen Special Economic Zone in June of 1988, introducing commercial housing and indemnificatory housing in Shenzhen, which becomes a landmark of China’s transition from planned to market economy. The two-decade reform of housing market under Liang and Li
1 successfully satisfied the housing demand of different groups in Shenzhen, varying from those from the Party and government organs, SOEs employees, to private firms employees and foreign-owned firms employees
2 served as a valuable trial of housing reform in China
3 encouraged the development of commercial housing, contributing to the healthy development of Shenzhen’s housing market
4 stabilized Shenzhen’s housing market
5 contributed to the development of Shenzhen’s property management industry, improving the condition of living for locals
With the launch of the Implementing scheme of the reform of monetization of housing distribution of Shenzhen’s government and public institutions in 2003, Shenzhen’s housing reform went astray. It was not until 2011 had Shenzhen’s housing market reform adopted adjustment measures, including
1 the issue of Regulations on Shenzhen’s indemnificatory housing in 2011
2 the rapid construction of indemnificatory housing units
1 broke away from the welfare housing system and set up the indemnificatory housing system
2 commenced the paid transference of land use rights and soon formed the commercial housing market
3 established the dual-track and three-category indemnificatory housing system
Nonetheless, Shenzhen inevitably made mistakes along the way of reforming the housing market. In particular, Shenzhen
1 made deviations in the direction of reform
2 did not reach the goal to build enough indemnificatory housing between 2005 and 2015
3 has been delayed in adopting effective macro-level regulatory policies to balance the soaring housing price
In retrospect, 2003 is a critical turning point, before which the reform has been successful. Shenzhen’s first attempt to reform the housing market set off in 1983, under the direct of Liang Xiang, then Party Secretary of Shenzhen. Li Hao inherited the legacy of his predecessor and unveiled the Housing Reform Scheme of the Shenzhen Special Economic Zone in June of 1988, introducing commercial housing and indemnificatory housing in Shenzhen, which becomes a landmark of China’s transition from planned to market economy. The two-decade reform of housing market under Liang and Li
1 successfully satisfied the housing demand of different groups in Shenzhen, varying from those from the Party and government organs, SOEs employees, to private firms employees and foreign-owned firms employees
2 served as a valuable trial of housing reform in China
3 encouraged the development of commercial housing, contributing to the healthy development of Shenzhen’s housing market
4 stabilized Shenzhen’s housing market
5 contributed to the development of Shenzhen’s property management industry, improving the condition of living for locals
With the launch of the Implementing scheme of the reform of monetization of housing distribution of Shenzhen’s government and public institutions in 2003, Shenzhen’s housing reform went astray. It was not until 2011 had Shenzhen’s housing market reform adopted adjustment measures, including
1 the issue of Regulations on Shenzhen’s indemnificatory housing in 2011
2 the rapid construction of indemnificatory housing units
3 the introduction of the Affordable Housing Project for Talents
4 improving the housing provident fund system
5 strictly regulating the housing price
2018 comes the document on Deepening housing system and accelerating the building of a multi-source, multi-channel housing supply and guarantee system to encourage both the renting and purchase of houses,
1 re-adopting the scheme of indemnificatory housing provision
2 setting the goal of building 1 million indemnificatory housing units by 2035
3 unveiling the multi-source, multi-channel housing supply and guarantee system
4 establishing an exclusively state-owned enterprise, Shenzhen Affordable Housing for Talents Group
