by Kwok May Ling Anita. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 101-105). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.vi / LIST OF TABLES --- p.vii / CHATPER / Chapter I --- INTRODUCTION --- p.1 / Chapter II --- AN OVERVIEW OF THE REAL ESTATE INDUSTRY IN HONG KONG --- p.4 / A Former British Colony --- p.4 / "An Open, Free Market Economy" --- p.5 / Real Estate Development in Hong Kong --- p.5 / Land Supply --- p.6 / Government Stance --- p.8 / Property Prices --- p.9 / The Hong Kong Miracle --- p.11 / Changes in the Employment Structure --- p.11 / Hong Kong as a Servicing Center --- p.12 / Hong Kong as a Tourist Attraction --- p.13 / Property Tycoons --- p.13 / The Importance of Real Estate to the Economy --- p.14 / Chapter III --- AN OVERVIEW OF THE PRC ECONOMY --- p.17 / Open Door Policy --- p.17 / A Socialist Economy with Chinese Characteristics --- p.17 / Austerity Programme --- p.18 / Unification of the Renminbi Exchange Rate System --- p.18 / Future Development --- p.19 / Some Economic Indicators --- p.21 / Chapter IV --- AN OVERVIEW OF THE PRC REAL ESTATE BUSINESS --- p.25 / Policies Laying Down the Foundation of Real Estate / Development in China --- p.26 / Paid Use of State Land --- p.26 / Recognition of Houses as Commodities --- p.26 / Comprehensive Development Programs --- p.27 / Open Door Policy --- p.27 / Structure of the China's Real Estate Market --- p.27 / Primary Real Estate Market --- p.28 / Secondary Real Estate Market --- p.28 / Tertiary Real Estate Market --- p.29 / Commodity Housing --- p.30 / Internal Commodity Housing --- p.31 / Foreign Chinese Exchange Commodity Housing --- p.31 / External Commodity Housing --- p.31 / Stages of Development in the Real Estate Market --- p.31 / First Stage of Development - Introduction --- p.32 / Second Stage of Development - Rapid Growth --- p.35 / Third Stage of Development - Consolidation --- p.33 / Forth Stage of Development 一 Steady Growth --- p.34 / The Ninth Five-Year Plan (1996-2000) --- p.34 / Chapter V --- A COMPARISON BETWEEN THE REAL ESTATE MARKET IN HONG KONG AND CHINA --- p.37 / Land Supply --- p.37 / Property Prices --- p.38 / The Property Market Evolution --- p.39 / The Learning Process --- p.44 / Lack of a Secondary/tertiary Market --- p.45 / Legislation --- p.45 / Chapter VI --- THE CONSTRUCTION PROCESS --- p.47 / Role of a Developer --- p.47 / Property Development by Foreign Investors --- p.47 / Legal Aspects --- p.47 / A Typical Commercial Arrangement --- p.48 / Characteristics of Overseas Chinese --- p.49 / A Quick SWOT Analysis of the Overseas Chinese --- p.51 / Strengths --- p.52 / Weaknesses --- p.53 / Opportunities --- p.55 / Threats --- p.55 / Construction Costs --- p.56 / Chapter VII --- RISK ANALYSIS --- p.58 / Property Development Risks --- p.58 / Property Investment Risks --- p.59 / Operational/construction Risks --- p.60 / Availability of Financing --- p.60 / Illiquidity of Property Investments --- p.62 / Joint Venture Arrangements --- p.63 / Competition --- p.63 / Forfeiture of Land --- p.64 / Property Rights --- p.64 / Economic Risks --- p.65 / Current Dilemma --- p.65 / Oversupply --- p.66 / Substandard/inconsistent Market Behavior --- p.68 / Foreign Cash Sought to Fund Huge Infrastructure Projects --- p.69 / Asia's Currency Turmoil --- p.70 / Devaluation of Renminbi --- p.72 / Current Government Stance --- p.73 / Chapter VIII --- STRATEGIES / Functional Level Strategy --- p.76 / Preparation --- p.77 / Purchasing Land --- p.79 / Management --- p.80 / Contracting --- p.82 / Quality Control --- p.83 / Marketing --- p.85 / Financing --- p.87 / Business Level Strategy --- p.89 / Geographical Markets --- p.89 / Governmental Low-Pricing Housing Schemes --- p.90 / Target Customers --- p.91 / Service Apartment --- p.91 / Diversified Usage --- p.92 / Architecture --- p.93 / Ecology --- p.93 / Coordination between Business Strategies and Functional Strategies --- p.94 / Corporate Strategy --- p.95 / Commercial Property Management --- p.95 / Trading of Building Materials and Equipment --- p.96 / Strengthen the Strategic Relationship with Local Partners --- p.97 / Strategic Alliance with State-owned Enterprises --- p.97 / Chapter IX --- CONCLUSION --- p.99 / BIBLIOGRAPHY --- p.101 / INTERVIEWS --- p.104
| Identifer | oai:union.ndltd.org:cuhk.edu.hk/oai:cuhk-dr:cuhk_322128 |
| Date | January 1998 |
| Contributors | Kwok, May Ling Anita., Chinese University of Hong Kong Graduate School. Division of Business Administration. |
| Source Sets | The Chinese University of Hong Kong |
| Language | English |
| Detected Language | English |
| Type | Text, bibliography |
| Format | print, vii, 105 leaves : ill. ; 30 cm. |
| Coverage | China, China, Hong Kong |
| Rights | Use of this resource is governed by the terms and conditions of the Creative Commons “Attribution-NonCommercial-NoDerivatives 4.0 International” License (http://creativecommons.org/licenses/by-nc-nd/4.0/) |
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