The Chinese stock markets were extremely volatile during the period 2005-08. The Shanghai Stock Exchange (SSE) Composite Index increased more than sixfold from 1,012 in 2005 to 6,124 by the end of 2007. It then declined continuously to reach a low of 1,929 on 17 September 2008, or a drop of 70...

type="main" xml:id="twec12105-abs-0001" <title type="main">Abstract</title> <p>Rapid urbanisation and rising income have led to a strong demand for housing in urban China. However, housing development has been distorted by speculation, income inequality and lack of government support for low-cost houses. In recent years,...</p>