Leading global commercial real estate consultancy sponsors conference for 3rd year
November 6, 2014, Beijing – Global property investment consultancy CBRE is proud to once again sponsor The Economist's China Summit, a yearly award-winning event produced in association with The Economist magazine that takes place today in Beijing.
Themed "China reconstructs", China Summit 2014 explores the progress of China’s reforms and the prospects for their success. Streamlining the state, the benefits and dangers of shadow banking, the changing balance of power between the centre and localities and the ongoing anti-corruption drive will be among the many topics discussed during the day. Speakers and panelists at the prestigious one-day event include policy makers, academicians, business innovators and financial institution researchers.
Given the central role that property markets play in the nation's economy and society, real estate specialists CBRE will have much to contribute to the day's discussions.
Henry Chin, Head of Research, Asia Pacific, CBRE is one of the panelists for a track at the Summit on urban planning entitled "Building Better Cities". Some of the China's most pressing problems, including environmental pollution, inequality, congestion and social unrest, are all closely tied to the design of cities, and the panel will discuss which cities are doing things right and which aren't. How local governments can better manage debt and whether China needs a property tax, will be among specific issues covered.
"Land sales and property development have been key drivers of China's urbanization up to this point," said Chin. "Local government’s reliance on land sales to increase revenues is a direct cause of rural-urban migration, and development of industrial parks and downtown business districts is what has enabled the concentration of employment opportunities that attract city-bound migrants.
"However, in order to avoid problems such as environmental degradation and social unrest that have accompanied this property-driven urbanization, the government is trying to change the urbanization model to a more industry-driven and people-oriented one. Steps being taken include allowing the easing of residency permit restrictions, opening up of rural land markets and policies to encourage movement of industry away from the coast towards the inner cities," Chin added.
“The health of China's economy and the outcome of many of the reforms that the government is trying to implement are all closely linked to the nation's property markets,” said Ivan Poon, President, CBRE China. “CBRE is proud to be a sponsor of this important event and to contribute our unique perspectives as property specialists to the day's discussions.”
Other speakers at China Summit 2014 incude Zhang Xiaoqiang, Executive Vice Chairman, China Center for International Economic Exchanges; Alfred Schipke, Senior Resident Representative, China, International Monetary Fund; Zhang Xin, Chief Executive Officer, SOHO China; Cheng Manjiang, Chief Economist and Global Head of Research Department, BOC International; Martin Chen, Chief Operating Officer, Genesis Property; and Haiyan Wang, Managing Partner, China India Institute. The event is being moderated by John Micklethwait, Editor-in-Chief of The Economist and other members of The Economist editorial team.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
