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Chen Huai Guested in the 41st Financiers Club

Source:   Updated :2019/04/19    Hits:

On the afternoon of January 20, the 41st “Financiers’ Club·Qingdao Jinjialing Wealth Management Salon” was successfully held by Qingdao Jinjialing Financial Area Management Commission, SUFE Qingdao Wealth Management Institute, and China Everbright Bank Qingdao Branch at Qingdao Haiqing Hotel.

Chen Huai, a renowned economist, Director of China Urban-Rural Development Economic Research Institute, and former Director of Policy Research Center of Ministry of Housing and Urban-Rural Development, was invited to give a keynote speech themed on “40th Anniversary of Reform and Opening up: How Has Real Estate Changed China”, to look back the development course of the real estate industry in the past forty years of reform and opening up, and discuss the essential problems and future trends on this basis.

“People usually attribute such issues as the conflicts between the poor and the rich, the government and market, the urban area and rural area, as well as the mismatch between the original system design and economic development to the real estate industry and high housing prices”, Chen Huai said, the two key words attracting wide attention under the guidance of public opinions—“housing price” and “policy” are just external reflections of comprehensive conflicts of multiple social interests, which cannot solve fundamental problems faced by China and the real estate industry. He called for more attention to the rules and national conditions of the public.

After that, Chen Huai further analyzed that in the past 40 years of reform and opening up, the real estate industry has changed China, and its step-by-step development has promoted the formation of the four major consensuses:
“First of all, the real estate industry shows us that consumption is not a kind of ‘evil’. The report at the 19th CPC National Congress proposes the objective of basically building China into a modern socialist country by 2035; one key issue is how to promote the upgrading of consumption structure to strike the balance between supply and demand as well as between production and consumption. Secondly, the development of the real estate industry makes people realize that pursuing worldly happiness is ‘good’. Thirdly, real estate also tells people that to own a property is no longer a kind of ‘evil’, but a satisfaction to people’s aspiration for a wonderful life. Finally, real estate let people know that urban development is not ‘evil’, and today we are aiming to build a fully-developed modern and powerful nation with more cities featuring better development and higher qualities as the vital material foundation.”

In the Q&A session, Chen Huai answered the hot issues of common concern among the audience regarding the future trend of housing prices, regulatory policies, introduction of real estate tax, etc.

Chen Huai said that there is no connection whatsoever between the introduction of real estate tax and housing price, “real estate tax is essentially an asset tax, whose primary significance is to realize the transfer from indirect tax-based tax system to direct tax-based tax system. In addition, real estate tax is also an important means of adjusting stock assets and optimizing allocation; therefore, once real estate tax is introduced, relevant policies will be provided to support, protect, encourage and expand the leasing market.”

Over three hundred leaders and senior managers from local government of Qingdao, financial institutes and large enterprises took part in this salon.