China property market: Government plays a pivotal role in the real estate market

 https://companiesdigest.com/china-property-market-government-plays-a-pivotal-role-in-the-real-estate-market/


China’s real estate sector has evolved into an important pillar of the economy


China’s real estate sector is younger than global peers, but it quickly became a pillar of China’s economy, accounting for c.7% of China’s GDP for the past 20 years and leading to the prosperity of other sectors that relied on the property market flourishing. China’s real estate market can be traced back to the late 1970s, when the government started to theoretically explore commercialising the housing market; the sector has so far experienced five distinct development phases:

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