Since the mid-2010s, China has entered a new stage known by development economists as a risky “growth transition”. The housing sector has become the single largest sector of China’s economy: housing stability now directly affects the stability of the national economy, which in turns affects housing. This presentation provides a detailed examination of China’s housing market and the affect of this on China’s economy and poses to answer the following questions: • How did China’s housing system get where it is today? • What is different in urban China from other countries, and does that create stability risks for its growth transition? • Is international experience of value for better national and local housing policies during the present era? © Bertrand RENAUD