Yi Xianrong

Yi Xianrong

Dean, Institute for Wealth Management, Qingdao University

Yi Xianrong is currently the dean of the Institute for Wealth Management, Qingdao University. He previously held positions in Hunan Normal University, the University of Hong Kong, and the Institute of Finance and Banking at the Chinese Academy of Social Sciences. He has been an EMBA professor in institutions such as Tsinghua University and Peking University. He has written columns for various publications, including Ming Pao in Hong Kong, Lianhe Zaobao in Singapore, chinatimes.com in Taiwan and the China Economic Times. His areas of interest are modern economics, modern financial theory, finance in China, international finance, financial property theory and fintech.

Men work at a construction site of apartment buildings in Beijing, China, 15 July 2022. (Thomas Peter/File Photo/Reuters)

China’s property companies going bust may be a common sight in 2023

Chinese academic Yi Xianrong remarks that while the Chinese government had emphasised stability for the property sector in recent years, the market was in dire straits in 2022, marked by abysmal sales and financial figures and rock-bottom consumer confidence. Faced with these tough challenges, the Chinese government has made significant changes to its real estate policies this year. But it will not be a smooth road ahead to drive the transformation of the ailing sector.
A man wearing a face mask walks past an estate agent in Guangzhou's Sanyuanli area, in Guangdong province, China, 13 April 2020. (David Kirton/File Photo/Reuters)

Bartering garlic for homes: China’s uphill fight to revive the real estate market

To revive China’s property market, local governments in some cities have implemented a slew of changes to ease property restrictions, with some even allowing the use of crops as a down payment for a home. However, these policies present many risks to the market. Chinese academic Yi Xianrong believes that a return to a consumption-led market is the only viable way to lower the risk in China’s property market.
Shoppers on a pedestrian street in Shanghai, China, on 18 June 2022. (Qilai Shen/Bloomberg)

China needs to rethink its regulations and governance of the platform economy

Over the past year, the Chinese government has taken strong action against monopolistic practices in the platform economy. However, with the effects of the pandemic, the economy needs a boost and the platform economy seems to be the way to lift it. Chinese academic Yi Xianrong says that to truly harness the strengths of the platform economy, the authorities need to see that it is a totally different entity from the traditional economic sectors and its governance needs some deep thinking.