CHINA'S HOUSING REFORM: THE EXPERIMENTS IN SHENZHEN SPECIAL ECONOMIC ZONE

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Abstract
As a pacesetter of modernization, the Shenzhen Special Economic Zone has adopted radical reform programmes to solve the housing shortage problem. The reforms emphasized the minimization of government subsidy and the promotion of home ownership. The relative success of the Zone in housing reform seems to lie in its ability to institute mortgage loans, its plan to introduce the small-profit housing scheme on a large scale, and a high level of consciousness and acceptance of the market mechanism. However, these factors are lacking in most other Chinese cities.

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