Studv On Propertv Income Based On The Optimization Of Chinese Residents’ Income Pattern

Currently, income growth does not synchronize with economic development, its growth rate is lower than revenue. Therefore, the issue of income growth is widely concerned and how to increase individual’s income is among the policy agenda. The3rd Plenary Session of18th Party Central Committee proposes that increase property income in multiple channels so that more people can share the fruits of economic development and stimulate social vitality. However, property income is less than enough and accounts for the lowest proportion of total income. Therefore, the income structure needs to be improved, In order to increase property income in multiple channels, we must create the conditions to get property income and increase channels of property income. And what conditions are needed for the property income? To solve this problem, we must sort out the influencing factors of property income, and then improve the existing system and policy against the key factors to make it accessible for more people to get property income and share the fruits of economic development reform.In theoretical analysis part, we study the influencing factors of property income from two aspects:the rate of return on assets and property number. Those factors can be classified into four categories:property number, institutional factor such as social security and property rights institution, investment environment factor and individual factor.Then, by use of CHFS data, we analysis the characteristic and difference of family property income and calculate the contribution of property income to income gap. We find that there is a huge difference in property income between urban and rural areas and among different regions. And this difference is closely related to the differences in family assets structure. The difference of property income is the largest among four components of income, and its contribution to the income gap is more than its weight.In empirical analysis part, we test the impact of different factors on property income. Results show that the degree of risk aversion, liquidity preference, property number, hukou and region exert significant influence on property income. Furthermore, we employ gap decomposition of property income, in order to analyze the internal sources of property income gap. We find that house rents and stock gains impose the largest influence on property income gap. The greater of the risk of the asset, the fewer households are involved in the investment and it tends to exert more serious impact on property income gap. Then, we explore the influencing factors of the return of property differences through the analysis of the number of real estate and financial assets held by households. Empirical analysis shows that, the degree of risk aversion, the property number of household, household labor income, hukou and region have a significant impact on the number of key assets.Based on the results of theoretical and empirical analysis, this paper proposes suggestions to promote harmonious and stable property income growth from four perspectives:optimize the distribution of property, improve housing leasing and land system, broaden the investment channels and improve the social security system.