回归后香港的土地和住房政策政治经济分析

Abstract:The first sixteen years of the Hong Kong Special Administrative Region（SAR）was marked by severe challenges of all kinds. Among these were the difficulties arising from the collapse of the property bubble in the early days of Hong Kong’s return to China，which resulted in hundreds of thousands “homeowners” falling in the category of negative equity holders. For this，the SAR Government paid a very heavy price. From then onwards，market guidance has been used as an excuse for immensely scaling down of public housing construction and urban land development，as well as allowing developers to dominate the primary land market. In Hong Kong，property prices only experienced very mild and short downward corrections under the 2007-2008 global financial crisis. Instead，the repeated rounds of quantitative easing launched by the FED of the United States fuelled another property bubble. Attempts have been made by the SAR Government in recent years to cool down the property market and resume control of the primary land market. However，due to various reasons，these well-intended policy initiatives have been met with severe resistance from different circles of the public；and the popularity ratings of the Chief Executive and his government remain at extremely low levels.

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