The Analysis Of The Chinese Housing Market Public Policy On The Policy Implementaion

Mendcius said:"who have immovable real estate has perseverance". Housing is an important carrier for "Living and working in Peace and Contentment" as well as a fatal factor for maintaining society stability. In1998, housing has been through market-oriented reform, symbolizing an overall restructuring for housing system. In2003, China has begun the policy regulation for housing market. There have been some effects due to10years’housing market regulation while the conflict between the high house price and people’s purchasing power indicates that there is still stability problem for market operation.For a long time, researches for housing market have been focus on policy rationality. However, policy implementation should also be attached great importance during this key period. Therefore, this article will concentrate on public policy implementation issue. And the purpose for writing this article is analyzing the problems and their reasons, existing in policy implementation phase and affecting the final effects in policies. Meanwhile, measures and suggestion for solution will also be given here.Research methods applied in this article include literature research method, lengthways method and comparative approach.This article has analyzed the relative policies’background, regulation purpose and effects on housing market, on the base of research symbol of regulation policies on housing market from1998to2013. Meanwhile, basing on the Smith policy implementation model, threading the principal subject to liability involved in policy implementation phase, including center government, local government, estate agent and house buyers, this article has compared and analyzed the interest and conflict among liability subjects:under decentralized system, local officials and real estate agents form solid interest alliance, stimulated by local interest and real estate industry interest, and local government is widely dependent on "land finance"; local officials share the same interests with real estate agents due to government performance examination, resulting to the local officials’rent-seeking. In non-rational expectation, non-rational decision would be made during gambling on house price between house buyers and estate agents. These are main reasons resulting to failure for China housing marketing policy implementation. The solutions out of the above reasons should be the main idea to for the problems during abovementioned policy implantation, namely, consolidating the interests among parties. The consolidation should insist of three phases:firstly, breaking the government monopoly during land transfer; secondly, coordinating co-operation between central government and local government; thirdly, adjusting gambling chips between house buyer and estate agents. What’s more, which part the consolidation will play, is not only dependent on the rationality of the measures implemented but also on center government’s supervision and ability on restriction of "opportunistic behavior" by local government.There are two features in this article. Firstly, this article concerned on the effects on the final results of policy from problems rose during its implementation, distinguishing the research on house market policy itself by majority of scholar in China. Secondly, this article concerned on analyzing interests and conflicts among different parties involved in policy implementation and on the fundamental reasons for the problems, concentrating on interests relation among parties during policy implementation, while majority of scholars would confine their research into a kind of elements during policy implementation including motive, environment and measures and so on.