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China Housing Market

Since the founding of the People's Republic  of China in 1949, urban workers have been virtually guaranteed housing by their employers.  However, state subsidies for housing are gradually being eliminated with housing reforms introduced by Premier Zhu Rongji.  The expectation of suspended subsides, the establishment of a housing fund from which low interest loans are drawn, and local tax breaks for home purchases have led to greater demands for affordable housing and have encouraged home ownership. 

The market potential for housing construction and building materials in China is enormous.  State economic reforms, which designated the building material industry as an engine of economic growth in 1999, are promoting the development of housing industry.  During the next three years, government official plan to increase spending on new homes by 15% by investing $97 billion (8 trillion RMB) in infrastructure and residential housing construction. 

Along with the increase in development, the reforms has moved Chinese residential construction industry away from traditional building materials and building style by encouraging the usage of energy efficient and environmentally friendly building materials, which opens the market for American made building products. Just in the last year, Chinese market size for these type of  building materials have grown 24.7 % from the previous year and is expected to continue to increase this year.

Overall, housing reforms are expected to continue and to affect China's GDP by stimulating the consumption of home furnishings and fixtures, providing more jobs, and strengthening demand for infrastructure to support new housing developments. 

Related Press Releases
 

Anhui Plans 11.5 Billion Yuan for Housing Construction (11 April 2000)
Describes housing construction plans in Anhui to satisfy increased housing demands.
 

World Bank Active in Development of Western China (11 April 2000)
Discusses the World Bank's decision to extend loans to develop western China, where Chengdu is situated.
 

Proposed Demonstration Projects of U.S. Building Materials in Northern and Southern China (5 January 1999)
Discusses how the participation of housing demonstration projects as a way of entering the Chinese housing market.
 

Background on the Current China Housing Situation (15 April 1999)
Provides information regarding the Presidential Initiative, China Housing Reform policies, Chinese governmental participants, and its market potential. 
 

China Housing Market and National Institute of Standards and Technology's Role in the China Housing Market - Beijing (19 November  1999)
Describes the cooperative efforts of the Chinese and American delegations to "harmonize"  building codes and standards to further the Initiative.
 

China's Building Materials and Housing Market - Primer (1) (10 December 1999)
Discuss how the change in home buyers, from employers to individuals, initiated an increase in demand for higher quality building materials in China. 
 

Proposed TV Show in China to Highlight Building Technologies (Like the "This Old House) (1999)
Examines the possibility of producing a home-building show in China which effectively illustrates the quality of American building materials technology.