An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk

Zhenyu Su

doi:10.1007/978-981-95-6415-6_163

An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk

Zhenyu Su^*

^*Corresponding author for this work

Xi'an Jiaotong-Liverpool University

Research output: Chapter in Book or Report/Conference proceeding › Conference Proceeding › peer-review

Abstract

The Chinese housing system has undergone a huge transformative phase in 1998, from the planned welfare housing allocation system to the commercialization of housing. After the introduction of monetary housing distribution, real estate became a pillar of China’s economy. However, rapid economic growth and urbanization have magnified the investment attributes of housing, driving up prices and creating social and economic challenges, such as housing affordability and widening wealth inequality. The disparity in housing resource allocation has fueled a growing housing bubble, which is associated with the systemic financial risk. The post-pandemic period has brought new economic challenges, with weak domestic demand and an unprecedented stagnation in the housing market. Therefore, this introduction aims to reveal the development of China’s housing market over the past 27 years, analyze the key factors that driving property price inflation, and explore potential policy-driven strategies to mitigate systemic financial risks.

Original language	English
Title of host publication	Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025
Editors	Singha Chaveesuk, Seungwoo Shin, Sebastian Kot, Bilal Khalid
Publisher	Springer Nature
Pages	2639-2651
Number of pages	13
ISBN (Print)	9789819564149
DOIs	https://doi.org/10.1007/978-981-95-6415-6_163
Publication status	Published - 2026
Event	5th International Conference on Entrepreneurship and Economy in an Era of Uncertainty, EEEU 2025 - Seoul, Korea, Republic of Duration: 24 Sept 2025 → 26 Sept 2025

Publication series

Name	Springer Proceedings in Business and Economics
Volume	8
ISSN (Print)	2198-7246
ISSN (Electronic)	2198-7254

Conference

Conference	5th International Conference on Entrepreneurship and Economy in an Era of Uncertainty, EEEU 2025
Country/Territory	Korea, Republic of
City	Seoul
Period	24/09/25 → 26/09/25

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth
SDG 10 Reduced Inequalities

Keywords

Chinese housing market
Housing affordability
Systemic financial risk

Access to Document

10.1007/978-981-95-6415-6_163

Cite this

Su, Z. (2026). An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk. In S. Chaveesuk, S. Shin, S. Kot, & B. Khalid (Eds.), Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025 (pp. 2639-2651). (Springer Proceedings in Business and Economics; Vol. 8). Springer Nature. https://doi.org/10.1007/978-981-95-6415-6_163

Su, Zhenyu. / An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk. Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025. editor / Singha Chaveesuk ; Seungwoo Shin ; Sebastian Kot ; Bilal Khalid. Springer Nature, 2026. pp. 2639-2651 (Springer Proceedings in Business and Economics).

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abstract = "The Chinese housing system has undergone a huge transformative phase in 1998, from the planned welfare housing allocation system to the commercialization of housing. After the introduction of monetary housing distribution, real estate became a pillar of China{\textquoteright}s economy. However, rapid economic growth and urbanization have magnified the investment attributes of housing, driving up prices and creating social and economic challenges, such as housing affordability and widening wealth inequality. The disparity in housing resource allocation has fueled a growing housing bubble, which is associated with the systemic financial risk. The post-pandemic period has brought new economic challenges, with weak domestic demand and an unprecedented stagnation in the housing market. Therefore, this introduction aims to reveal the development of China{\textquoteright}s housing market over the past 27 years, analyze the key factors that driving property price inflation, and explore potential policy-driven strategies to mitigate systemic financial risks.",

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Su, Z 2026, An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk. in S Chaveesuk, S Shin, S Kot & B Khalid (eds), Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025. Springer Proceedings in Business and Economics, vol. 8, Springer Nature, pp. 2639-2651, 5th International Conference on Entrepreneurship and Economy in an Era of Uncertainty, EEEU 2025, Seoul, Korea, Republic of, 24/09/25. https://doi.org/10.1007/978-981-95-6415-6_163

An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk. / Su, Zhenyu.
Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025. ed. / Singha Chaveesuk; Seungwoo Shin; Sebastian Kot; Bilal Khalid. Springer Nature, 2026. p. 2639-2651 (Springer Proceedings in Business and Economics; Vol. 8).

Research output: Chapter in Book or Report/Conference proceeding › Conference Proceeding › peer-review

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Y1 - 2026

N2 - The Chinese housing system has undergone a huge transformative phase in 1998, from the planned welfare housing allocation system to the commercialization of housing. After the introduction of monetary housing distribution, real estate became a pillar of China’s economy. However, rapid economic growth and urbanization have magnified the investment attributes of housing, driving up prices and creating social and economic challenges, such as housing affordability and widening wealth inequality. The disparity in housing resource allocation has fueled a growing housing bubble, which is associated with the systemic financial risk. The post-pandemic period has brought new economic challenges, with weak domestic demand and an unprecedented stagnation in the housing market. Therefore, this introduction aims to reveal the development of China’s housing market over the past 27 years, analyze the key factors that driving property price inflation, and explore potential policy-driven strategies to mitigate systemic financial risks.

AB - The Chinese housing system has undergone a huge transformative phase in 1998, from the planned welfare housing allocation system to the commercialization of housing. After the introduction of monetary housing distribution, real estate became a pillar of China’s economy. However, rapid economic growth and urbanization have magnified the investment attributes of housing, driving up prices and creating social and economic challenges, such as housing affordability and widening wealth inequality. The disparity in housing resource allocation has fueled a growing housing bubble, which is associated with the systemic financial risk. The post-pandemic period has brought new economic challenges, with weak domestic demand and an unprecedented stagnation in the housing market. Therefore, this introduction aims to reveal the development of China’s housing market over the past 27 years, analyze the key factors that driving property price inflation, and explore potential policy-driven strategies to mitigate systemic financial risks.

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Su Z. An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk. In Chaveesuk S, Shin S, Kot S, Khalid B, editors, Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience - Global Conference on Entrepreneurship and Economy in an Era of Uncertainty 2025. Springer Nature. 2026. p. 2639-2651. (Springer Proceedings in Business and Economics). doi: 10.1007/978-981-95-6415-6_163

An Introduction to the Link Between the Chinese Housing Market and Systemic Financial Risk

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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