Essay On The Sustainable Development Of Indemnificatory Housing Funds In China

Since the reform and opening-up,China’s economic strength has been continuously strengthened,the process of urbanization has been gradually promoted,and the living conditions of residents have been greatly improved.But the rising rate of housing prices far exceeds the growth rate of residents’income,housing problems bring great inconvenience to residents’ lives,housing security has become a public concern.In this background,the government has increased its investment in indemnificatory housing since 2011.During the 12th Five-Year Plan period,36 million sets of indemnificatory housing were overfulfilled.During the 13th Five-Year Plan period,20 million shantytowns were put forward to solve the problem.To some extend,these slowed the housing contradictions in our country.The construction needs a large number of stable capital investment to ensure the smooth completion of indemnificatory housing and later construction.Due to the welfare of the indemnificatory housing,less income and other characteristics,relying entirely on the government has increased the government’s financial burden.The sustainable investment of funds has become an important bottleneck restricting the construction of indemnificatory housing.This article takes this as the breakthrough point and divides into six parts to analyze the sustainable development of indemnificatory housing funds.It is hoped that the suggestions put forward can have a certain positive significance to solve the problem of funds for indemnificatory housing in China.The first part introduces the research background and significance of this paper,introduces the foreign literature review and the domestic literature review.The innovation and deficiency of this paper are summarized.The innovation point of this paper is to analyze the sustainability of indemnificatory housing funds by case study and analyze the gap of their funds.The disadvantage is that some data are not updated to the most recent year,and the analysis is not in-depth enough.The second part summarizes the definition and characteristics of indemnificatory housing,defines the objects of security,and analyzes and compares the objects,advantages and disadvantages of various types of indemnificatory housing in China.It defines the definition and evaluation index of fund sustainability.This part expounds three theoretical bases of public products,social security and housing filtration of indemnificatory housing.The third part mainly analyzes the funds of indemnificatory housing.Firstly,the current situation of capital investment is analyzed.Secondly,the sources of capital are introduced from two aspects.Then,financial analysis is carried out on public rental housings as an example,and the conclusion is drawn that the payback period of investment is relatively slow and the sustainability is relatively poor.Finally,the fund supply and demand of indemnificatory housing in the next few years is calculated,and the fund gap is obtained.The fourth part mainly analyzes the problems and reasons of the sustainability of indemnificatory housing funds in China.The sustainability of indemnificatory housing has a big fund gap,which cannot meet the needs.The central government spends little and relies mainly on local govemments.The indemnificatory housing has poor sustainability,inadequate financial support.The supply of the rental market is insufficient and the legal system support is not available.The reasons for the above problems are mainly the imperfect financial support system,the imperfect financing system,the operational mode and the supporting system.The fifth part introduces four mature countries in indemnificatory housing financing,Singapore,the United States,the United Kingdom and Japan,and draws lessons from their policies and experiences in indemnificatory housing financing.On this basis,it puts forward some teaching to China’s.The sixth part puts forward reasonable and feasible policy suggestions based on the previous analysis and China’s national conditions.In terms of finance,we should establish a mechanism for long-term fiscal input,increase the proportion of the central government’s financial burden,and increase the enthusiasm of local governments.In terms of finance,we should innovate financing methods,set up financial institutions,mobilize social capital and increase the way of capital return.In the aspect of operation,we should innovate guarantee methods and improve the exit system.In terms of supporting measures,we will make the rental market more perfect and improve the laws and regulations on indemnificatory housing.