The Empirical Research On The Influence Of Asset Price On Property Income Of Urban Residents In China

Since the reform and opening up, economy has seen a growing trend in China,property income as one important source of income is affecting the revenue structureof residents even more remarkably. In recent years, the prosperity and development inthe real estate market and the volatility in stock market have an impact on propertyincome distribution of residents, Per capita property income of Chinese residents isgrowing, especially the property income of urban residents in China has entered a newgrowth point. Nevertheless, property income of residents accounted for the proportionof household disposable income is less than3%. Therefore, how to improve residents’property income becomes the focus of the party and government, at the same time ithas significance for the income distribution system reform. Seventeenth PartyCongress reports that "increase the income share of national income distributiongradually," and" create conditions to allow more citizens to have property income",eighteenth Party Congress report also recommends "multiple channels to increasepeople’s property income ". Thus, the state encourages the masses to get moreproperty income from property investment, and then creates conditions to increaseproperty income and adjusts the income distribution structure for our country.However, due to property income has the characteristic of the Matthew Effect that"rich get richer, the poor get poorer" in the allocation process, which will pull theincome gap between residents.Since property income of urban residents mainly comes from rents of real estateand the stock and other securities. Therefore, this paper analyzes the status of theproperty income of urban resident, and in-depth studies the affection of asset pricefluctuations on property income of urban residents in China, and then gives policyrecommendations, which will not only help to promote a reasonable growth ofproperty income of residents, but also help to improve the income distribution structure, narrowing the income gap and achieving common prosperity.For the arrangement of contents, this paper focuses on subject, the layout is asfollows:Introduction belong Overview section. A brief overview of the researchbackground, significance, and it describes current research as well as researchmethods.The second chapter is the theoretical foundation. It defines the concept ofproperty income, and analyzes the connotation of property income. And it analysesproperty income influencing factors, including property factors, personal factors,market factors and institutional factors.The third chapter analyzes the status and problems. At first, this sectionsummarizes the current situation of urban residents in property income from thegrowth, structure and source of property income. Then it analyzes the impact ofpositive and negative effects of the property income of urban residents on income gapresidents. Finally, it researches the effect of property income on the income gap usingempirical methods, and draws the conclusion that property income gap between urbanresidents is not the main reason leading to the total income gap.The fourth chapter is empirical analysis. This part of asset uses VAR model andpanel data model analyses the impact of price fluctuations on the property income ofurban residents in China and get the conclutions.The fifth Chapter is policy recommendation. This section combines with ourcurrent situation, putting forward the policy recommendations of improving propertyincome of residents.