ZH Speech: Chinese Real Estate Investment

Speaker: Sijin Xian
Recorded at TIP virtual practice session in October, 2025

Language: Mandarin (Chinese)
Topic: Chinese Real Estate Investment
Mode: Simultaneous Interpreting (10-12 minutes).
Difficulty Rating: 4
Description: This speech traces the evolution of China’s real estate market from its rapid growth after the housing reform to the current era of rational investment.

Glossary:
单位 work unit (“danwei”)
土地出让 land transfer/land grant (China's system for granting state-owned land-use rights)
市场分化 market divergence
空城/鬼城 empty city/ghost city
入住率 occupancy
烂尾房 unfinished housing projects
房住不炒 Houses are for living, not for speculation
三道红线 The Three Red Lines policy
资产负债率 asset-liability ratio
净负债率 net debt ratio
现金短债比 cash to short-term debt ratio
不动产投资信托 REIT (real estate investment trust)
金融化产品 financialized product