Yi Xianrong

Yi Xianrong

Yi Xianrong was born in Shanggao, Jiangxi Province in 1958. Professor, School of economics, Qingdao University

，

Former director of Financial Development Office of Institute of finance, Chinese Academy of Social Sciences, resigned in 2007.

In December 2010, it was publicly promoted by 300000 netizens as one of the "top nine Internet figures in China" juxtaposed with Dai Xu, Lang Xianping, Zhang Hongliang, Yu Jianrong, Guo Yiping, Shi Hanbing, Cao Jianhai and sun Xiliang. The vast majority of netizens recognized the "nine big men of the moment" and recognized that the nine big men of the moment were close to "public intellectuals".

Profile

Yi Xianrong was born in Shanggao, Jiangxi Province in 1958.

In 1989, he received a master's degree from Shanghai East China Normal University,

In 1997, he received a doctorate in economics from the Graduate School of the Chinese Academy of social sciences.

In July 1997, he entered the post doctoral station of economics in Renmin University of China;

From 1998 to 2000, he did cooperative research in the school of economics and finance, University of Hong Kong;

In July 1999, he visited Tsinghua University in Taiwan for research;

He has been a member of the international society of new institutional economics since 1998.

Real Estate Planner is a special lecturer of national professional qualification training

Experts in financial review of Expert Committee of China real estate business school

Work affairs: Star crown international cultural media (speech Affairs)

Dean and professor of Qingdao Wealth Management Research Institute and Qingdao Internet Finance Research Institute

Deputy director, doctoral supervisor and professor of Academic Committee of Qingdao University

Personal works

original

Introduction to modern contract economics

Transaction behavior and contract choice

Research on Coase's economic thought

Financial market and institutional choice

Introduction to modern economics (co authored)

Contract analysis of financial market

Economics and economic myth

Shock and development of financial market

Economic prosperity and power operation, etc

Translated Works

Theory of tenant farmers, economic explanation, etc;

Since the 1990s, he has published 300 papers in academic journals at home and abroad, and has been a columnist in Hong Kong's "Xin Bao", "Hong Kong Economic Daily", "Ming Pao", "Ta Kung Pao" and other newspapers; he has planned and presided over 5 sets of large-scale economic series.

Other maxims

Yi Xianrong's life motto: no name, no profit, no merit.

Yi Xianrong: China's holding of US Treasury bonds is an ideal choice and should be increased.

Yi Xianrong: real estate developers don't know real estate better than me. They are afraid of me. In 2005, Yi Xianrong predicted that house prices in Shanghai will fall by 50% and in Beijing by 30%.

Yi Xianrong: it doesn't make sense to say that I am against the government. I have a very good relationship with the central bank, the CBRC and the CSRC.

Yi Xianrong: I hope I can do something to make the whole social economy knowledge and economic information more clearly analyzed and understood, and provide some knowledge. Results take a car around the second ring road and look at the lights to draw the famous conclusion that the vacancy rate is very high.

Yi Xianrong: I didn't persuade everyone not to buy a house. I bought two suites myself.

Investigation Report

In the sina.com survey, 2715 people think that Yi Xianrong is a scholar with conscience, accounting for 79.41% of the total number of people surveyed, and 11% think that he "should have finished class long ago"; another 39.49% basically agree with Yi Xianrong's remarks on the real estate industry, accounting for 40.63%. However, 11% think that he "doesn't understand real estate at all".

Before 2005, Yi Xianrong was just an ordinary financial researcher in the Academy of social sciences. However, in July 2005, Yi Xianrong's economic review of "Beware of the real estate industry threatening the whole Chinese economy" attracted the public's attention together with the soaring house prices. In this review article, Yi Xianrong pointed out that "the real estate industry is holding the whole Chinese economy. If the bubble of domestic property is blown arbitrarily, it will be inevitable. This bold discussion immediately raised a debate about whether the real estate bubble existed in the real estate industry. This article is also considered to be the trigger for the controversy over whether the real estate industry has "bubble".

Since then, Yi Xianrong's name has been more associated with "real estate" and "house price". He once said that the real estate industry in the mainland is a profiteering industry, "most of the rich people on the list are engaged in real estate, and the real estate industry has rapidly created a group of top rich people.". The financial researcher, who spoke with a strong Jiangxi accent, was called "the spokesperson of real estate civilians".

Classic point of view

Yi Xianrong: the reason for the decline of domestic housing sales

In July 2008, the transaction area of new commercial residential buildings in Shanghai decreased by 69% year-on-year, while in August, although the average transaction price rose slightly month on month, the transaction volume remained sluggish, with a year-on-year decrease of nearly 70%. At the same time, the deadlock of the property market in the Yangtze River Delta has begun

Break. In July, the turnover of commercial housing in Shanghai, Nanjing, Hangzhou and Nanchang decreased by 68%, 47%, 58% and 58% respectively. What are the reasons for the rapid decline of commercial housing turnover? Why does the domestic real estate market have such strange phenomenon that "on one hand, the output of commercial housing is rapidly declining, while on the other hand, the price of housing is still rising", which is contrary to the basic law of supply and demand of market economy? What are the reasons? If this pattern continues, what will be the final result?

In the case of low degree of real estate market, housing products are often the monopoly pricing of real estate enterprises. In addition, consumers are scattered, housing information is seriously asymmetric, and real estate development adopts different marketing strategies, which makes real estate buyers have low negotiation ability with real estate developers in the market. Domestic housing buyers are basically in the situation of passive acceptance of housing product prices. Therefore, in such a strong market of real estate developers, how to protect housing buyers is the basic responsibility of the government.

In fact, as far as the sales of housing quantity is concerned, compared with the special period in 2007, the sales volume in 2008 decreased, but compared with the same period in 2006, it did not decrease, on the contrary, it increased rapidly; if compared with the same period in 2005, the sales volume nearly doubled. Therefore, we should take a more comprehensive view of the current decline in housing sales. The decline of housing sales in 2008 is due to the high proportion of speculation or speculation in housing sales in 2007. With the government's gradual elimination of this part of real estate speculation or speculation, the decline in housing sales is inevitable. This is not only the goal of the government's macro-control of real estate, but also the root of the healthy and sustainable development of China's real estate market.

However, why does China's real estate market go against the basic law of supply and demand? Of course, this is related to the low degree of marketization of China's real estate, the monopoly pricing of real estate products and the accumulation of certain wealth by enterprises after eight years of real estate development. Although the current market is full of voices discussing how difficult the real estate enterprises are, how big the crisis the real estate market is facing, and how the real estate enterprises will survive the winter, in fact, none of these problems exist. Otherwise, there will not be a situation that the domestic real estate market would rather not sell a house than reduce the price, and there will not be a variety of marketing strategies of domestic real estate developers around "housing does not reduce the price".

Why do real estate developers have to put the price on the ceiling and not reduce the price, but shout that the real estate market is dangerous? First, the current real estate developers think they have the strength to fight against the market. They shout out some alarmist remarks, just hope that the government will introduce policies to maintain the existing profiteering mode of the real estate market; second, the real estate developers think that their own interests have already tied the local government and banks together, they believe that the government will introduce policies to save the real estate; third, any real estate developer still hopes to return to the real estate market in 2007 In the era of "miracle", they are still reliving the old dream of "bad money driving out good money" in the real estate market in 2007.

In short, the rapid decline of housing sales in the real estate market, the fundamental reason is that the real estate developers to monopolize prices to the top of the flowering board. The reason why they would rather not sell one set than reduce the price is that they have financial support. They think that the government will introduce policies to maintain the current profiteering mode of real estate. But in fact, no one can defeat the market, only people or enterprises who are against the market and government policies!

Yi Xianrong: China's real estate bubble burst inevitable

From the early years of domestic economic development trend, too high prices will make real estate profits amazing. This is true not only for real estate enterprises, but also for individuals and local governments.

In such a decade of real estate profit seeking, all kinds of resources have poured into the housing market, and all kinds of enterprises have poured into the real estate market, and China's economy has completely become a "real estate" economy. It can be said that this "real estate oriented" economy has not only seriously hindered the adjustment of industrial structure and the transformation of economic development strategy, but also caused a series of serious social and political problems. For example, the unfair distribution of wealth, collusion between government and business, corruption among government officials, and the distortion of people's value of wealth creation. The whole society and economy are completely integrated into the housing, which is an unbreakable "nest".

If we say, the real estate bubble that has been blowing for 10 years in China has not experienced cyclical adjustment, but the more it has blown up. This is not only in conflict with the new government's need to improve the quality and efficiency of economic growth, but also the huge real estate bubble.

Chinese PinYin : Yi Xian Rong