A General View of the Development of Property Service Industry in China
Rong Mei;National Academy of Economic Strategy, CASS;
China's modern property management comes into being along with the reform on the housing system. Recent years have seen rapid growth of the industry in many aspects, such as number of enterprises, aggregate areas of management, number of workers in the industry, and annual revenue. Property management companies make profits mainly from collecting property management fees, and are also engaged in other businesses. Meanwhile, property management companies provide public services including sanitation, greening and conservation, public order, and repairing and maintenance to property owners. This paper has described the transformation of China's property management industry, listing revenues and profits of Top 100 companies in the industry. It has also analyzed the structure of costs of property management companies.
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