微观经济学论文-乔姐.doc

Mark： Title：The Effects of Macroeconomic Policies in Real Estate Adviser: 孙成芳 Student: 王宇乔 Class: 3 Number:110440308 Date: June of 2014 Abstract: Over the last decade, the pace of real estate has increased beyond our wildest expectations. Soaring housing prices have thrown the issue of macroeconomic polices of the government into sharp focus. In this paper, I will analyze the policies made from 2003 to 2013 which are translated by myself and the effects of these Macroeconomic policies in real estate Macroeconomic Policies (2003-2013) 2003 Circular on Promoting the Sustained and Healthy Development of the Real Estate Market《关于促进房地产市场持续健康发展的通知》 In August 2003, the State Council pointed out that the real estate industry would be regarded as the pillar industry of the national economy. In The Circular on Promoting the Sustained and Healthy Development of the Real Estate Market, hereinafter referred to the No.18 document, it explicitly proposed to maintain the sustainable and healthy development of the real estate and required the full understanding of the significance of the sustainable development. 2004 “831” policy and the first adjustment in ten years In March 2004, the “831” deadline policy symbolized the beginning of the macroeconomic regulation. The Department of Land and Resources walked hand in hand with the Department of Supervision to issue a document that the “legacy” land would have been dealt with before 8.31, otherwise, the land would be transferred into the national land reserve by the Department of Land and Resources. This policy has been regarded as the sign of the regulation to curb the overheated real estate by the central government. In October of the same year, the peoples Bank of China decided to raise the benchmark deposit and loan interest rate, and to relax the loan rates a