Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals. However, there are signs of overvaluation in some cities’ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have,a structural driver.
This text covers ceramic materials from the fundamentals to industrial applications. This includes their impact on the modern technologies, including nano-ceramic, ceramic matrix composites, nanostructured ceramic membranes, porous ceramics, and the sintering theory model of modern ceramics.
Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals. However, there are signs of overvaluation in some cities’ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have,a structural driver.
This book closely examines how universities and higher educational institutions have come to occupy a very significant position in the Chinese national Iinnovation system (NIS) in the last two decades. It looks at the growth, structure and current status of higher education in China and discusses how these world-class institutions are intimately intertwined with the rise of China in the global knowledge economy. It studies themes such as the impact of Chinese universities on industry, business enterprises and national development, relevance of higher education to policies related to industry development, reform measures to improve research intensity and quality of teaching, and internationalization and globalization of higher education. Based on sound empirical research, it also explores concepts like academic entrepreneurship, start-ups and entrepreneurial ecosystems. A key text on the Chinese education sector, the book will be of interest to scholars and researchers of higher education, Chinese studies, science, technology and innovation studies, business economics and management, academic entrepreneurship and public policy.
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