Chinese Real Estate Sector goes Digital
Liberalized in the 1990s, Chinese real-estate sector is still young and, according to global consulting firm McKinsey & Co., is still evolving in critical ways. In recent years, the use of the Internet as a platform for targeted publicity, transactions, and property management has rapidly become an essential tool.
This digital shift, involving developers, clients, as well as the the government, allows for more effective management of demand, the facilitation and acceleration of transactions, as well as the easy centralization of data. As a result, it may also facilitate the management and administration of the market—a market that, while still relatively unstable, is critical to China’s ongoing and future economic growth.