ABSTRACT
The reforms and opening-up campaign since 1979 were intended to improve efficiency in China's economic system, but they have generated profound and sweeping changes in all areas. The chapter discusses the relevant developments in the political, economic, social, technological, legal and environmental arenas, which are relevant to the development and operation of the property market. Important changes, in particular, changes that have implications for the development of the property market, in these arenas are the subject of analysis. Added to the analysis is an examination of a renewed 'reforms and opening-up' campaign promised by the Third Plenary Session of the Eighteenth Congress of the Chinese Communist Party (CCP), held in November 2013, discussing their impact on the property market. It can be concluded that political and socio-economic developments in China are conducive to the sustainable development of the property market and the contextual factors impacting the property market are not likely to cause it to collapse.
