摘要
The Stagflation Era of the Real Estate MarketIn the past 10 years, the Chinese real es- tate market has boomed, benefiting local governments and real estate developers alike. Income from land sales has become the largest part of local authority revenue. Such earnings have risen from 540 billion yuan （S87.7 billion） 10 years ago to 2.85 trillion yuan （$460 billion）, taking up a half of local fiscal revenues.
The Stagflation Era of the Real Estate Market South Reviews May 7In the past 10 years, the Chinese real estate market has boomed, benefiting local governments and real estate developers alike. Income from land sales has become the largest part of local authority revenue. Such earnings have risen from 540 billion yuan ($87.7 billion) 10 years ago to 2.85 trillion yuan ($460 billion), taking up a half oflocalfiscalrevenues.
