摘要:中国房地产业的步伐开始在上世纪90年代,这已大大繁荣起来,在接下来的20年。它已经发现,房地产投资已增长20 %,从1999到2006。贡献的房地产,中国国内生产总值占9.2 % 2006(中国国家统计局,2007),反映中国经济严重依赖房地产业务
rnal risks will not be taken into account in the pursuit of tremendous profits. With the gradual maturity of real estate market, opportunities for huge profits will reduce, such as the launch of property tax. Chinese government is trying to change distorted situation of real estate market and bring sustainable development.
Many experience from other countries such as Japan’s lost 10 years, American subprime mortgage crisis have warned us that there are enormous risks in real estate market that investors need to be cautious. An outstanding risk management plan is necessary to prevent investors from disturbing and fighting against various types of risks and ensure their stability of business. Risks stem from social, political, economic factors as well as land price, marketing, financing and resettlement risks so that corporations need to learn how to deal with risks in the Chinese changing property environment effectively so as to enhance their competitive advantage and thereby, survive in such an evolutionary point of time.
Risk management refers to a management process, including the
strategy to define, measure, evaluate and manage risks, which is beneficiary to reduce the number of uncontrollable risks, the chance of making wrong decisions, reduce losses and enhance added value of corporations (Liu et al., 2007). Chinese real estate corporations become familiar with the processes and system of managing the risk with their experience accumulation. However, they still need risk management studies which are based on real estate industry development with Chinese special characteristics.
1.2 Research objective
The specific focus of this paper is to address the following three aspects of risks and risk management in the real estate industry of China in order to determine the efficient and effective management strategies that will overcome various identified risks enabling the sponsors of Shengqiang real estate’s project to reduce costs as a result of less risk.
• Identify the specific and specialized risks that are experienced by the real estate companies in China.
• Determine the effective risks management process for the Shengqiang real estate.
• Improve the risk management of Shengqiang real estate that will effectively control the risk involved in the project so that the company earns more profit if not then it will incur great loss.
More importantly, the happening of subprime mortgage crisis in America has warned us that uncontrolled and indulge in real estate market will bring further crisis and damage the whole economic environment. The booming in Chinese real estate market is characterized by the violent rise of house price since 1998, the problems of which have also been discovered now.
The main research objective of this paper is to explain why risks have grown more in the Chinese real estate development process in context of the project assigned by the Shengqiang real estate. Moreover, the whole picture of real estate market in China can be reflected through the analysis of Shengqiang real estate, in order to remind investors to be cautious to risks and risk management in real estate market, preventing that China real estate market follows the old disastrous road to ruin the whole economic environment like America and Japan.
Chapter 2 LITERATURE REVIEW
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