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has been increased by ten times to adjust the economy in 2007. The loan interest rate, for example, has increased from 6.12% to 7.47% per year and the saving interest has increased from 2.52% to 4.14% per year. Meanwhile, the increase of deposit reserve rate has witnessed the widest gap, from 9% to 14.5%. It has been reported that the tight monetary policy adoption has never been seen before within 20 years of Chinese economy. The tight monetary policies have restrained and limited the irrational prosperity of Chinese real estate industry.
Besides, the close relationship between financial industry and real estate industry also deepen the risks of financial policy. The real estate industry is a capital intensive industry, the development of which is inseparable from the support of financial institutions. The risks of the real estate and excessive support of the bank credit are closely related. It has been found that more than 60 per cent of capitals in the real estate projects come from the bank’s capital. Therefore, excessive financial support may stoke real estate crisis, especially for long-term loose credit policy, low interest rate policy, which will continue to stimulate real estate investment demand and to increase the consumer demand of real estate. The increases of house prices and the followed risks all have close relations to financial support from the development of real estate market in other countries, especially soaring house prices in the short term. Therefore, irrational expansion and contraction of bank credit will seriously affect real estate and the money supply, intensifying all kinds of speculations and accumulate financial risks. The current speculation on real estate is serious due to the loose bank credit policy in recent years.

4.1.3.4 Tax policy risk

Tax policies are common instrument for government to regulate the real estate market.
The Chinese government has adopted tax policy in the early 2007. Land use tax has double increased in cities and towns. The payment value assed tax on real estate land transformed in to payment of liquidation from pre-payment of anticipation and the paid use land charges of new construction was raised by one time. The increase of related tax has not controlled the soaring housing prices. Property tax policy has been launched firstly in Chongqing. Property tax target include villas, houses with large areas, and high-grade commodity house, aiming to suppress the shooting house prices.
Moreover, tax policy risks also lie in the incomplete tax items and fee-charging system, including double taxation, different tax system, the mix of tax and fees and the like, which will trigger the increase of real estate development costs and imbalanced demand and supply structure, leading to the risks to real estate corporations.

 

4.1.3.5 Urban Planning risk

Urban planning also has impact on the real estate prices and its development as well.
The main objective of urban planning is to determine scale and urban development direction according to economic and social development goals in the certain period, rationally use the urban land, coordinate urban spatial layout and make comprehensive deployment and specific arrangement to urban construction. Urban planning is an important means of national macro control, which will guide and regulate real estate development. Urban planning will consider rati本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。