housing policies in hong kong, china and the people’s republic of china
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8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
http://slidepdf.com/reader/full/housing-policies-in-hong-kong-china-and-the-peoples-republic-of-china 1/34
IDLN [jrenok Ripar ]arnas
Fjusnok Rjgnmnas no Fjok Ejok, Mfnoiiod tfa Rajpga„s \apulgnm jc Mfnoi
Snmtjr Hnok Gn
Oj. 133 Iprng <293
Isnio Davagjp`aot Lioe Nost ntuta
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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Tfa [jrenok Ripar sarnas ns i mjotnouitnjo jc tfa cjr`argy oi`ad Dnsmussnjo Ripar sarnas5 tfaou`larnok jc tfa pipars mjotnouad wntfjut notarruptnjo jr mfioka. IDLN„s wjrenok piparsracgamt nontnig ndais jo i tjpnm iod ira pjstad jognoa cjr dnsmussnjo. IDLN aomjurikas raidars tjpjst tfanr mj``aots jo tfa `ino pika cjr aimf wjrenok pipar (knvao no tfa mntitnjo lagjw).]j`a wjrenok pipars `iy davagjp notj jtfar cjr`s jc pulgnmitnjo.
]ukkastad mntitnjo8
Gn, S. H. <293. Fjusnok Rjgnmnas no Fjok Ejok, Mfnoi iod tfa Rajpga's \apulgnm jc Mfnoi. IDLN [jrenok Ripar 133. Tjeyj8 Isnio Davagjp`aot Lioe Nostntuta. Ivingilga8 fttp8//www.idl.jrk/pulgnmitnjos/fjusnok-pjgnmnas-fjok-ejok-mfnoi-iod-prm/
Rgaisa mjotimt tfa iutfjr cjr nocjr`itnjo iljut tfns pipar.
A`ing8 gnhnokpaenokerBk`ing.mj`
Snmtjr Hnok Gn ns io issnstiot prjcassjr it tfa Dapirt`aot jc Amjoj`nms iod Cnoioma,Fiok ]aok @ioika`aot Mjggaka, Fjok Ejok, Mfnoi.
Tfa vnaws axprassad no tfns pipar ira tfa vnaws jc tfa iutfjr iod dj ojt oamassirngyracgamt tfa vnaws jr pjgnmnas jc IDLN, IDL, nts Ljird jc Dnramtjrs, jr tfa kjvaro`aotstfay raprasaot. IDLN djas ojt kuiriotaa tfa immurimy jc tfa diti nomgudad no tfns pipariod immapts oj raspjosnlngnty cjr ioy mjosaquaomas jc tfanr usa. Tar`nojgjky usad `iyojt oamassirngy la mjosnstaot wntf IDL jccnmnig tar`s.
[jrenok pipars ira sulhamt tj cjr`ig ravnsnjo iod mjrramtnjo lacjra tfay ira cnoignzadiod mjosndarad pulgnsfad.
Isnio Davagjp`aot Lioe NostntutaEisu`nkisaen Lungdnok 6C=-<-1 Eisu`nkisaen, Mfnyjdi-euTjeyj 922-3226, Hipio
Tag8 +69-=-=1>=-1122Cix8 +69-=-=1>=-11;9Q\G8 www.idln.jrkA-`ing8 nocjBidln.jrk
© <293 Isnio Davagjp`aot Lioe Nostntuta
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
Ils trimt
Tfns pipar ioigyzas tfa fjusnok `ireats iod fjusnok pjgnmnas no Fjok Ejok, Mfnoi iod tfaRajpga„s \apulgnm jc Mfnoi (R\M). Ljtf `ireats cima fjusnok iccjrdilngnty prjlga`s dua tjgn`ntad giod suppgy, cjr wfnmf tfa sjgutnjos viry mjosndarilgy. Fjok Ejok, Mfnoi fis idjptad i
ringwiy iod prjparty davagjp`aot `jdag, wfnmf novjgvas mgjsa mjggiljritnjo latwaao tfakjvaro`aot iod prjparty davagjpars no mj`pimt urlio irais, wfnga gaivnok `jst kraaolagtsiod surrjuodnok nsgiods uodardavagjpad. Igtfjukf tfa R\M fis pgadkad tj `inotino i`non`u` gavag jc lisnm cir`giod tj caad nts girka pjpugitnjo, tfns tirkat fis jctao laaomj`prj`nsad dua tj gjmig kjvaro`aots„ cnsmig mjostrinots iod krjwtf mjomaros.
Tfa tirkats iod jutmj`as jc fjusnok pjgnmnas no ljtf `ireats ira no gnoa wntf tfanr sjmnig wagcirasysta`s. Fjok Ejok, Mfnoi civjrs tfa agdargy iod tfa pjjr, tfus fjusnok pjgnmnas taod tjsuppjrt tfa gjwar-nomj`a liod. Tfa R\M cjmusas jo tfa yjuok iod tfa rnmf5 faoma, `jstrakugitnva fjusnok pjgnmnas cjr tfa fnkfar-nomj`a liod fiva turoad jut tj la uosummasscug.Fjok Ejok, Mfnoi igsj in`s tj issnst pulgnm fjusnok taoiots tj lamj`a prnvita fj`ajwoars,lut nts pjgnmnas fagp prjvnda fjusnok sulsndnas, i gass accamtnva `aisura tj immassjwoar-jmmupnad fjusnok. Jo tfa mjotriry, tfa summass jc Fjusnok Rrjvndaot Cuod no prjvndnok
`jrtkika notarast rita radumtnjo, wfnmf ns i `jra accamtnva `aisura tj immass jwoar-jmmupnadfjusnok, immjuots cjr tfa fnkf fj`ajwoarsfnp rita no tfa R\M.
HAG Mgissncnmitnjo 8 F99, F;<, R<1, R<3, \<9, \<6, \=9, \=6, \1<
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
Mjotaots
9. Notrjdumtnjo ............................................................................................................................ =
<. Fjusnok Rjgnmnas no Fjok Ejok, Mfnoi .................................................................................. 4
<.9 Fjusnok @ireat ........................................................................................................ 4 <.< @ihjr Fjusnok Rjgnmnas ............................................................................................. 6 <.= ]u``iry jc Rjgnmy Nostru`aots .............................................................................. 93
=. Fjusnok Rjgnmnas no tfa Rajpga„s \apulgnm jc Mfnoi ............................................................ 9>
=.9 Fjusnok @ireat ...................................................................................................... 9> =.< @ihjr Fjusnok Rjgnmnas ........................................................................................... <9 =.= ]u``iry jc Rjgnmy Nostru`aots .............................................................................. <6
4. Mjomgusnjo ........................................................................................................................... <>
\acaraomas.................................................................................................................................. =9
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
=
9. NOT\JDQMTNJO
Tfns pipar ioigyzas tfa fjusnok `ireats iod fjusnok pjgnmnas no Fjok Ejok, Mfnoi iod tfaRajpga„s \apulgnm jc Mfnoi (R\M). Nt axi`noas fjw amjoj`nm iod nostntutnjoig dnccaraomasnocguaoma fjusnok `ireat davagjp`aot, iod fjw fjusnok pjgnmnas uodar virnjus nostntutnjos iod
systa`s wjre. Cjr ljtf Fjok Ejok, Mfnoi iod tfa R\M, tfns pipar ravnaws tfa fnstjrnmigdavagjp`aots jc tfa fjusnok `ireat, nggustritas fjusnok pjgnmnas tfit fiva laao n`pga`aotad,dnsmussas tfa n`pimts jc pjgnmy nostru`aots jo dnccaraot nomj`a krjups, aviguitas `ihjrfjusnok pjgnmnas, iod ndaotncnas tfa rnses iod mfiggaokas rakirdnok fjusnok tfit ira cimnok pjgnmy`iears tjdiy.
Tfa twj `ireats fiva sj`a caituras no mj``jo, sumf is fnkf dapaodaomnas jo tfa prjpartysamtjr tj `inotino amjoj`nm krjwtf, daosagy pjpugitad urlio irais wntf fnkf prjpjrtnjos jcfnkf-rnsa lungdnoks, datarnjritnok fjusnok iccjrdilngnty jvar tfa gist damida, mugturig mjosaosusjo tfa ragitnjosfnp latwaao `irrnika iod fj`ajwoarsfnp, iod nomraisnok noaquignty nofjusafjgd nomj`as iod fjusnok issats.
Fjwavar, amjoj`nm iod nostntutnjoig dnccaraomas latwaao ljtf irais ira cuodi`aotig. Fjok
Ejok, Mfnoi fis laao rioead is tfa wjrgd„s craast amjoj`y cjr <2 mjosamutnva yairs, wfnga tfaR\M stngg rasjrts tj `aisuras nofarntad crj` tfa pgiooad amjoj`y. Fjok Ejok, Mfnoi fis laaoi craa firljr cjr mipntig, wfarais tfa R\M ns jogy stirtnok tjwird cnoiomnig gnlarignzitnjo. FjokEjok, Mfnoi fis aotarad tfa pjst-nodustrnignzitnjo stika, lut tfa R\M ns stngg upkridnok nts`ioucimturnok samtjr. Cnoiggy, Fjok Ejok, Mfnoi„s sjmnig wagcira systa` civjrs tfa agdargy iodtfa pjjr (n.a., gjwar mjsts jc `adnmig sarvnmas iod i fnkfar `non`u` wika, wntf fnkfar mjsts jcadumitnjo iod gjwar tix ritas cjr gjwar-nomj`a liods)5 tfa R\M„s sjmnig pjgnmy cjmusas jo tfayjuok iod tfa rnmf (n.a., gjwar mjsts jc prn`iry adumitnjo iod giljr, wntf fnkfar mjsts jc `adnmigsarvnmas iod fnkfar tix ritas cjr gjwar-nomj`a liods).
Ojt jogy ira tfa nostntutnjoig iod fnstjrnmig mjotaxts dnvarsa, lut tfanr fjusnok `ireats ira itdnccaraot stikas. Fjok Ejok, Mfnoi fis axparnaomad i mj`pgata prjparty mymga jvar tfa gist <damidas, lut no tfa R\M, `ioy luyars lagnava tfit fjusnok prnmas wngg mjotnoua tj nomraisa.
Fjok Ejok, Mfnoi fis fid i fjusnok sfjrtika dua tj gn`ntad giod suppgy, lut, no tfa R\M, ifjusnok jvarsuppgy dua tj immagaritad urlionzitnjo ns pusfnok up vimiomy ritas. Fjok Ejok,Mfnoi fis i wagg-astilgnsfad pulgnm raotig fjusnok (R\F) systa` tj immj``jdita ig`jst =2%jc nts tjtig pjpugitnjo5 no tfa R\M, tfa rjga jc tfa raotig fjusnok samtjr ns `irknoig. Fjok Ejok,Mfnoi fis iliodjoad prjparty iod nofarntioma tixas, lut tfa R\M stngg aodaivjrs tj prj`jtaljtf.
Gn`ntad giod suppgy uodarpnos fjusnok prjlga`s no ljtf Fjok Ejok, Mfnoi iod tfa R\M.Daspnta virnjus `aisuras iod smfa`as tj ‗mjjg djwo‐ fjusnok prnmas, Fjok Ejok, Mfnoi fidi `adnu` fjusnok prnma”`adnu` fjusafjgd nomj`a ritnj jc 99.6 no <292, wfnmf rjsa tj 94.> no<29= (Da`jkripfni <291). Lamiusa twj-tfnrds jc nts tarrntjry mj`prnsas fnggs, gn`ntad giod suppgyns tfa eay jlstimga tj nts fjusnok prjlga`s. Lisad jo tfa ringwiy iod prjparty davagjp`aot
`jdag, Fjok Ejok, Mfnoi„s pgioonok stritaky ns tj immj``jdita `jst jc nts rasndaots wntfnowigenok dnstioma tj ringwiy stitnjos, wfnga gaivnok kraaolagts iod surrjuodnok nsgiodsuodavagjpad jr uodardavagjpad. ]umf i primtnma pusfas up fjusnok prnmas tfrjukf fnkf giodprnmas iod aofiomad nocristrumtura, iod ns dnccnmugt tj la ravartad.
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IDLN [jrenok Ripar 133 Gn
4
Tfa R\M cimas giod sfjrtika prjlga`s cjr jtfar raisjos. Tfa R\M, oaadnok tj caad nts 9.4
lnggnjo pajpga, `inotinos tfit 9.6 lnggnjo `u9 jc ikrnmugturig giod la rasarvad cjr mugtnvitnjo. Gjmig
kjvaro`aots jctao nkojra tfns pjgnmy, fjwavar, iod tfa maotrig kjvaro`aot fis gnttga notarast noaocjrmnok nt. Lamiusa tfa maotrig kjvaro`aot iggjmitas cnsmig rasjurmas, gjmig jccnmnigs fiva tjmj`pata cjr gn`ntad rasjurmas tj suppjrt gjmig davagjp`aot. ^at nt ns dnccnmugt tj kat trioscarpiy`aots crj` tfa maotrig kjvaro`aot, sj gjmig jccnmnigs pracar novast`aots, sumf is saggnok
urlio giod tj prjparty davagjpars iod mjovartnok rurig giod cjr urlionzitnjo, tj rinsa cuods tjaofioma gjmig nocristrumtura. Tfasa primtnmas ira ojt uodar pulgnm prassura< iod novjgva gassgaknsgitnva prjmassas.
<. FJQ]NOK RJGNMNA] NO FJOK EJOK, MFNOI
<.9 Fjusnok @ireat
I dnsistrjus 9>1= cnra no ]fae Enp @an, i sfiotytjwo jc `nkriots crj` tfa R\M, `ida jvar12,222 pajpga fj`agass, prj`ptnok tfa kjvaro`aot tj lakno prjvndnok pulgnm fjusnok. ]jjoictar, no tfa 9>;2s, tfa noidaquimy iod smirmnty jc fjusnok igsj lakio driwnok tfa
kjvaro`aot„s ittaotnjo. No 9>;<, 43% jc tfa tjtig pjpugitnjo gnvad no squittar futs jr ta`pjriryfjusnok5 nt wis cjuod tfit oairgy 12% jc tfa pjpugitnjo gnvnok no sfirad prnvita cgits iodtaoa`aots oaadad rafjusnok.
Tjwird damaot gnvnok mjodntnjos, tfa kjvaro`aot prjpjsad tfit 962,222 uonts la lungt no9>;1/;3. Is i mjosaquaoma, gjmig davagjpars mjostrumtad `ioy prnvita cgits no tfa gita 9>;2s,immj`pionad ly io nomraisa no prnvita fjusnok prnmas no tfa `nd-9>62s (Cnkura 9). Rrnvitafjusnok prnmas raimfad tfanr cnrst paie no 9>>;, wfnmf wis >.1 tn`as tfa mj`pirilga prnma no9>64. Latwaao 9>3> iod 9>>;, gjmig krjss dj`astnm prjdumt (KDR) ramjrdad djulga-dnkntkrjwtf, nomgudnok 94% krjwtf crj` 9>3> tj 9>;4, 93% krjwtf crj` 9>;3 tj 9>69, iod 99%krjwtf crj` 9>63 tj 9>>4.
= Durnok tfns parnjd, prnvita dj`astnm fj`ajwoarsfnp nomraisad crj`
=<% tj 1<%.
9 Tfns ns i uont jc giod `aisura`aot usad no tfa R\M tfit virnas wntf gjmitnjo lut ns usuiggy aquig tj 333.1 squira
`atars.< Tfara ira rapjrtad misas jc mj`pugsjry giod raqunsntnjos iod uomj`paositad urlio rasattga`aots.
= Axmapt cjr 9>;1, 9>6<, iod 9>64.
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8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
3
No <224, prjparty prnmas lakio tj stilngnza. Id`nttnok tfit tfa damgnoa no fjusnok prnmas iodprjgjokad dacgitnjo wara rjjts cjr citnkuad gjmig novast`aot iod mjosu`ptnjo, tfa kjvaro`aotradacnoad nts rjga no tfa prjparty `ireat. Tfa pjgnmy cjmus sfnctad tj urlio raoawig iod`inotaoioma jc jgd lungdnoks crj` oaw fjusnok prjvnsnjo. Tfa kjvaro`aot lakio 92 `ihjrnocristrumtura prjhamts tj ljjst amjoj`nm krjwtf iod tj nomraisa a`pgjy`aot jppjrtuontnas notfa mjostrumtnjo iod ragitad samtjrs. No iddntnjo, nt giuomfad tfa Mipntig Novast`aot Aotriot
]mfa`a, iggjwnok ojogjmig luyars tj purmfisa fjusnok no Fjok Ejok, Mfnoi cjr quigncynokpar`ioaot mntnzaosfnp.
\avntignzitnjo jc tfa gjmig amjoj`y iod rafilngntitnjo jc jgd lungdnoks pirtgy immjuotad cjr tfa=<2% nomraisa no prnvita dj`astnm prnmas crj` <22= tj <29=. Tfns wis igsj dua tj tfakjvaro`aot„s strnmt mjotrjg jc giod suppgy cjr oaw fjusnok prjvnsnjo, wfnmf jmmurrad tfioes tjstrjok prjtasts cjr aovnrjo`aotig mjomaros rakirdnok usnok Kraaogiod5 cnggnok no tfa sai5davagjpnok giod no tfa Oaw Tarrntjry5 jr lungdnok fnkf-spaad ringwiys gnoenok Fjok Ejok, Mfnoitj tfa R\M, wfnmf wjugd rasugt no mgjsar amjoj`nm notakritnjo.4
Ly <294, 36% jc tfa pjpugitnjo gnvad no prnvita par`ioaot fjusnok, wntf i fj`ajwoarsfnp ritajc 19%. Jvar 91% jc jwoar-jmmupnad fjusnok wis sulsndnzad uodar dnccaraot fjusnok smfa`as,sumf is tfa Taoiots Rurmfisa ]mfa`a (TR]), Fj`a Jwoarsfnp ]mfa`a (FJ]), Rrnvita ]amtjr
Rirtnmnpitnjo ]mfa`a, @nddga Nomj`a Fjusnok ]mfa`a, Luy jr \aot Jptnjo ]mfa`a, iod@jrtkika ]ulsndy ]mfa`a. Tjkatfar wntf =2% rasndaots no R\F, tjdiy jvar 41% jc tfapjpugitnjo gnvas no virnjus cjr`s jc kjvaro`aot-suppjrtad fjusnok (Cnkura =).
Cnkura =8 Typas jc Fjusnok cj r Dj`astnm Fjusafjgds
]jurmas8 Maosus iod ]titnstnms Dapirt`aot, Kjvaro`aot jc Fjok Ejok, Mfnoi. Kaoarig Fjusafjgd ]urvay.
fttp8//www.maostitd.kjv.fe/survays/kfs/nodax.hsp (immassad Iukust <291)5 Fjok Ejok Fjusnok Iutfjrnty,Kjvaro`aot jc Fjok Ejok, Mfnoi. Fjusnok no Cnkuras.
fttps8//www.fjusnokiutfjrnty.kjv.fe/ao/mj``jo/pdc/iljut-us/pulgnmitnjos-iod-stitnstnms/FNC.pdc (immassad Iukust <291).
4 Jppjsntnjo pirtnas pracar gass mjooamtnjo wntf tfa R\M, antfar no amjoj`nm jr pjgntnmig ragitnjosfnps, tj `inotino
Fjok Ejok, Mfnoi„s stitus is i spamnig id`nonstritnva raknjo.
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
;
Tilga 9 prjvndas datingad fjusnok taouras i`jok dnccaraot ika mjfjrts. Tfa yjuokast mjfjrtfis i `umf gjwar jwoarsfnp rita mj`pirad wntf jtfar krjups. Tj axpgino tfns vist dnccaraoma,twj cimtjrs ira mjosndarad8 adumitnjo gavag iod jmmupitnjo strumtura.
Tilga 98 Rarmaotika jc Fjusnok Taoura ly Ika Mjfjrts
^air Ika Jwoad \aotad Ika Jwoad \aotad Ika Jwoad \aotad9>69 91”9> <9.4 ;6.9 <2”<4 <9.; ;;.; <1”<> <4.> ;4.<9>63 91”9> <1.9 ;<.= <2”<4 <4.9 ;<.2 <1”<> <6.; 31.39>>9 91”9> =2.3 34.< <2”<4 <>.3 34.3 <1”<> =4.= 13.19>>3 91”9> <;.3 39.> <2”<4 <6.1 3<.= <1”<> =<.; 13.3<229 91”9> <6.1 19.> <2”<4 <>.9 1=.= <1”<> ==.6 4>.<<223 91”9> =2.4 4>.> <2”<4 <>.9 46.< <1”<> =4.3 4;.<<299 91”9> 91.= ;3.6 <2”<4 9=.= ;6.9 <1”<> 9=.6 ;;.>9>69 =2”=4 <;.< ;<.2 =1”=> <4.1 ;4.> 42”44 <1.2 ;4.19>63 =2”=4 =2.= 3=.; =1”=> =9.< 34.= 42”44 <6.; 36.=9>>9 =2”=4 =1.= 1=.> =1”=> =1.4 11.= 42”44 =3.= 13.;9>>3 =2”=4 =1.< 19.< =1”=> =4.6 19.6 42”44 =4.2 14.<<229 =2”=4 =3.6 41.6 =1”=> =;.4 44.< 42”44 =1.; 41.<
<223 =2”=4 =6.1 41.6 =1”=> =6.1 41.= 42”44 =>.2 4=.4<299 =2”=4 9=.2 69.6 =1”=> 92.9 63.< 42”44 6.6 6;.>9>69 41”4> <4.1 ;4.> 12”14 <1.2 ;4.4 11”1> <;.< ;<.99>63 41”4> <>.2 36.4 12”14 <6.3 36.= 11”1> <6.6 3;.19>>9 41”4> =4.= 32.4 12”14 =4.3 32.= 11”1> ==.4 32.69>>3 41”4> =4.1 11.2 12”14 ==.< 1;.> 11”1> ==.; 1;.=<229 41”4> =1.< 4;.9 12”14 =1.6 4;.> 11”1> ==.6 12.6<223 41”4> =;.1 4<.3 12”14 =3.1 4=.; 11”1> =;.1 4=.3<299 41”4> ;.> 6>.2 12”14 ;.9 6>.6 11”1> 6.9 66.39>69 32”34 <6.2 ;9.= 31”3> <6.> ;2.3 ;2”;4 <>.= ;2.<9>63 32”34 =2.4 33.9 31”3> =9.4 31.2 ;2”;4 =9.6 31.=9>>9 32”34 =<.; 32.> 31”3> ==.6 32.< ;2”;4 =4.6 1>.49>>3 32”34 ==.< 1;.; 31”3> =9.; 1>.2 ;2”;4 =<.6 16.3
<229 32”34 ==.6 19.9 31”3> =<.; 1<.9 ;2”;4 =<.4 1=.=<223 32”34 =4.; 4;.2 31”3> =4.4 46.< ;2”;4 =4.1 46.;<299 32”34 92.2 63.2 31”3> 92.1 64.> ;2”;4 9=.9 69.3]jurma8 Iutfjr„s ioigysns jc maosus `nmrjditi.
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IDLN [jrenok Ripar 133 Gn
6
\akirdnok gaoktf jc adumitnjo, tfa yjuokar kaoaritnjos fiva `jra fnkfar adumitnjo, wfnmf`iy dagiy tfanr sairmf cjr hjls (Cnkura 4).
Cnkura 48 Mjfjrt Trihamtjry jc Fnkfar Adumitnjo
]jurma8 Iutfjr„s raioigysns jc maosus `nmrjditi, raprjdumad crj` Gn (<294i).
Kaoariggy, fivnok fnkfar adumitnjo nodnmitas lattar hjl prjspamts, is tfa yjuokar kaoaritnjosfiva tieao tfa gaid no lamj`nok `ioikars, prjcassnjoigs, iod issjmnita prjcassnjoigs (Cnkura1). Fjwavar, `ioikarnig pjsntnjos `iy igsj raqunra `jra miraar sfncts, tfus gaidnok tj yjuokpajpga„s pracaraoma tj raot fj`as (Gn <294i).
Cnkura 18 Mjfjrt Trihamtjrnas j c @ioikars, Rrjcassnjoigs, iod Issjm nita Rrjcassnjoigs
]jurma8 Iutfjr„s raioigysns jc maosus `nmrjditi, raprjdumad crj` Gn (<294i).
<.< @ihjr Fjusnok Rjgnmnas
Tfa kjvaro`aot ns tfa sjga giod suppgnar iod girkast davagjpar cjr ljtf pulgnm iod prnvitasamtjrs. Qodar tfa ringwiy iod prjparty davagjp`aot `jdag, tfa Fjok Ejok Fjusnok Iutfjrnty
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
>
mjjrdnoitas fjusnok prjhamts wntf prjparty davagjpars iod tfa @iss Triosnt \ingwiy Mj`pioy.Dua tj tfa mjostrinots1 jo tfa i`juot jc giod ivingilga cjr siga prnjr tj Fjok Ejok, Mfnoi„sraturo jc sjvarankoty, tfa `jdag summasscuggy turos smirma davagjpilga giod notj fjtags, jccnmas,pires, sfjppnok `iggs, mjovaotnjo figgs, iod ipirt`aots. Tfa summass jc tfa `jdag igsj fisrjjts no aomjuriknok iod notakritnok tfa pirtnmnpitnjo jc, ritfar tfio mrjwdnok jut, tfa prnvitasamtjr. Nt wis ra`ireilgy summasscug cjr prjparty `ireat davagjp`aot uotng ramaotgy.3
Tfa Fjok Ejok Fjusnok ]jmnaty, i ojokjvaro`aot jrkionzitnjo tfit sarvas tfa fjusnok oaadsjc tfa pjpugitnjo, igsj pgiys io assaotnig rjga no prjvndnok pulgnm raotig iod prnvita jwoarsfnpcgits. Crj` 9>1<”<29=, nt prjvndad =>,3>; raotig cgits iod <6,=;= cjr-siga cgits tj tfa `ireat(Cnkura 3). @jst raotig cgits wara lungt durnok 9>1<”9>6< is R\F uonts, wfnga `jst cjr-siga cgitswara lungt igjok ringwiy stitnjos immjrdnok tj tfa ringwiy iod prjparty davagjp`aot `jdag no tfa9>>2s. Jtfar tfio fjusnok suppgy, tfa Fjok Ejok Fjusnok ]jmnaty prjvndas fjusnok sulsndnastj taoiots no R\F tj nomraisa fj`ajwoarsfnp da`iod.
Cnkura 38 Ou`lars jc Cgits Rrjvndad ly tfa Fjok Ejok Fjus nok ]jmnaty
]jurma8 Fjok Ejok Fjusnok ]jmnaty, fttp8//www.fefs.mj`/aok/nocj/nodax.isp (immassad Iukust <291).
Tfa kjvaro`aot fis ragaisad i sarnas jc pjgnmy djmu`aots jo fjusnok, i`jok wfnmf tfa GjokTar` Fjusnok ]tritaky wis tfa `jst mj`prafaosnva. Tfa cnrst stritaky wis ragaisad no 9>6;,`irenok tfa praguda jc tfa kjvaro`aot„s systa`itnm notarvaotnjo no tfa fjusnok `ireat. Ntastilgnsfad i tirkat jc >32,222 oaw fjusnok uonts tj la lungt tj sitnscy igg da`iod ly <229.
Tfa stritaky in`ad it timegnok `ihjr fjusnok prjlga`s tfrjukf i systa`itnm iod kriduigipprjimf, sumf is (n) tfa savaragy n`ligiomad suppgy iod da`iod cjr pulgnm iod prnvitafjusnok, (nn) nomraisad wikas tfit mioojt mitmf up wntf tfa rnsa no fjusnok prnmas, (nnn)datarnjritnok fjusnok iccjrdilngnty, (nv) yjuok pajpga wfj cnod nt nomraisnokgy dnccnmugt tj lamj`afj`ajwoars, iod (v) gime jc suntilga giod no tfa `adnu` tj gjok tar`.
1Tfa R\M fid io ikraa`aot wntf tfa Qontad Enokdj` lacjra Fjok Ejok, Mfnoi„s raturo jc sjvarankoty no 9>64 jotfa i`juot jc giod ivingilga cjr siga.
3Tao `akiprjhamts, stirtnok no <22;/26, stn`ugitad `umf dalita. Tfa ramaot u`lraggi `jva`aot racgamts pulgnmquastnjonok jo tfa ragitnjosfnp latwaao prjparty davagjpars iod tfa kjvaro`aot.
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
92
Fjwavar, lacjra 9>>>/<222, tfa fnkfast ou`lar jc imtuig mjostrumtnjo mj`pgatnjo wis jogy1=,<13 cjr 9>6>/>2 (Tilga <). I sarnas jc sulsndnzad fjusnok smfa`as wara curtfar prjpjsad notfa oaxt stritaky no 9>>6 tj nomraisa fjusnok suppgy cjr `nddga- iod gjw-nomj`a ci`ngnas.
Tilga <8 Fjok Ejok Fjusnok Iutfjrnty Fjusnok Rrjdumtnjo
^air Rulgnm \aotig Fjusnok Notarn` Fjusnok
Fj`a Jwoarsfnp]mfa`a jr Rrnvita ]amtjr
Rirtnm npitnjo ]mfa`a Tjtig
9>62/69 <3,;3> 92,9;6 =3,>4;9>69/6< =9,=43 4,=>> =1,;419>6</6= <;,6;> 6,<36 =3,94;9>6=/64 <6,134 92,99; =6,3699>64/61 <3,=14 99,1;3 =;,>=29>61/63 <>,=63 96,1>2 4;,>;39>63/6; <;,2;= 9=,9;6 42,<199>6;/66 9>,>>9 1,=62 <1,=;99>66/6> =>,196 92,>43 12,4349>6>/>2 ==,>92 9>,=43 1=,<139>>2/>9 =<,39> 91,39< 46,<=99>>9/>< <9,9>2 9=,3>6 =4,6669>></>= <<,946 91,=<< =;,4;29>>=/>4 9>,646 <4,;4= 44,1>99>>4/>1 <4,442 4,224 <6,4449>>1/>3 94,11> 9>,=<6 ==,66;9>>3/>; 94,>43 93,6;6 =9,6<49>>;/>6 9;,>9; 944 9<,242 =2,9299>>6/>> >,;1> ;<2 96,2<2 <6,4>>9>>>/22 =9,623 9<2 93,116 46,464
]jurma8 Fjok Ejok Fjusnok Iutfjrnty, fttps8//www.fjusnokiutfjrnty.kjv.fe/ao/nodax.ft`g (immassad Iukust <291).
Io ika-parnjd-mjfjrt `jdag, i `jdag wndagy usad no da`jkripfnm studnas (^iok iod Giod<226), ns ippgnad tj aviguita tfa n`pimts jc tfa Gjok Tar` Fjusnok ]tritaky jo tfa pjpugitnjo„s
fjusnok miraar giddar.;
No tfns pipar, tfa `jdag ns notrjdumad cjr rnse ioigysns jc fjusafjgds no`jrtkika cnoiomnok tfrjukf nts mjfjrt accamt, iod Gjok Tar` Fjusnok ]tritaky jlhamtnvas iraaxi`noad tfrjukf ika iod parnjd accamts. I `ihjr `atfjdjgjknmig mfiggaoka wntf tfns `jdag,fjwavar, ns tfa mjggnoair rakrassjrs kaoaritad crj` tfa gnoair dapaodaomy i`jok ika, parnjd,iod mjfjrt (^iok, Cu, Giod, <224). Io notrnosnm astn`itjr `jdag (^iok iod Giod <226) nsidjptad tj sjgva tfns prjlga`.
Cnkura ; prasaots tfa ika accamts jo tfa immassnlngnty tj tfa tfraa typas jc fjusnok taouras,R\F, FJ], iod prnvita jwoarsfnp. I mj``jo upwird traod ns jlsarvad cjr igg tfraa typas jcfjusnok. Tfa ika krjup jc <1”<> yairs fis i fnkfar rita jc fjusnok ittino`aot mj`pirad wntfjtfar ika krjups latwaao <2 iod 41 yairs, nodnmitnok tfit luynok prjparty ns prjlilgy io nssuajc ojw-jr-oavar cjr yjuok pajpga. ]noma `jst jc tfa pjpugitnjo djas ojt fiva succnmnaot sivnokscjr djwo piy`aots no tfanr <2s, jogy tfjsa wntf waigtfy piraots mio kat jo tfa fjusnok giddar
it tfns stika (Gn <294l).
; Tfa fjusnok giddar no Fjok Ejok, Mfnoi usad tj jmmur no tfraa staps8 R\F, prnvita sulsndnzad fjusnok, iod
prnvita fj`a jwoarsfnp. \amaotgy, mj-rasndaoma wntf piraots fis laao jo tfa rnsa i`jok yjuok pajpga ikad96”=1 yairs (Gn <294l).
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IDLN [jrenok Ripar 133 Gn
99
Cnkura ;8 Ika Accamts jo Fjusnok Taoura Mfjnmas
FJ] 0 Fj`a Jwoarsfnp ]mfa`a.]jurma8 Iutfjr„s astn`itnjo jc maosus `nmrjditi.
Mj`pirad wntf tfa ika accamt, tfa parnjd accamt pgiys i `jra signaot rjga. No tfa 9>6; stritaky,io ivarika jc ;2,222 uonts wara prjpjsad tj la lungt yairgy. No tfa 9>>6 stritaky, tfa ou`larnomraisad tj 61,222 uonts. No 9>6;, tfa prnvita dj`astnm prnma nodax wis 4;.25 9>>6, nt wis99<.3. Cnkura 6 sfjws tfit nt wis aisnast tj ittino fj`ajwoarsfnp iod tj immass pulgnm fjusnokdurnok 9>63”9>>2, `jra dnccnmugt durnok 9>>3”<222, iod nomraisnokgy dnccnmugt ictarwirds.
Cnkura 68 Rarnjd Accamts jo Fjus nok Taoura Mfjnmas
FJ] 0 Fj`a Jwoarsfnp ]mfa`a.]jurma8 Iutfjr„s astn`itnjo jc maosus `nmrjditi.
Tfa Gjok Tar` Fjusnok ]tritaky dnd ojt sjgva tfa suppgy”da`iod kip. Nt ojt jogy gikkadlafnod tfa mymgnmig pittaro jc tfa prjparty `ireat lut imtuiggy i`pgncnad `ireat vjgitngnty. Tfa;2,222-uont pgio no 9>6; `iy fiva laao mraitad tjj airgy, lamiusa fjusnok prnmas fid huststirtad nomraisnok. @jrajvar, tfa 61,222-uont pgio no 9>>6 `iy fiva laao mraitad tjj gita, isfjusnok prnmas fid igraidy lakio tj cigg. Tfa trios`nssnjo jc pjgnmy accamts no tfa fjusnok`ireat `iy fiva laao gjokar tfio tfa kjvaro`aot iotnmnpitad.
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IDLN [jrenok Ripar 133 Gn
9<
No su``iry, tfjsa ljro no 9>39”9>31 fid tfa gjwast axpjsura tj cnoiomnok dnccnmugtnas jrlioeruptmy rnses (Cnkura >). Tfns mjfjrt wis ikad <1”<> yairs durnok 9>62”9>64, wfaoprjparty prnmas wara gjwast jvar tfa pravnjus = damidas. No mjotrist, nt wis `jst dnccnmugt cjrtfjsa ljro ictar 9>62 tj kat jo tfa fjusnok giddar, iod tfa Gjok Tar` Fjusnok ]tritaky oavarprjpargy iddrassad tfns prjlga`.
Cnkura >8 Mjfjrt Accamts jo Fjusnok Taoura Mfjnmas
FJ] 0 Fj`a Jwoarsfnp ]mfa`a.]jurma8 Iutfjr„s astn`itnjo jc maosus `nmrjditi.
<.<.9 Rulgnm \aotig Fjusnok
I`jok dnccaraot cjr`s jc fjusnok sulsndnas, R\F mjotrnlutad tfa girkast prjpjrtnjo jc sfagtarnokgass-waigtfy ci`ngnas no Fjok Ejok, Mfnoi. Lisad jo i qujti-iod-pjnots systa` cjr ippgnmiotsjo tfa wintnok gnst, R\F wis issnkoad tj ojoagdargy ippgnmiots ikad 96”1; yairs. Tfa stirtnokpjnot wis tfraa cjr ippgnmiots ikad 9> yairs, tfao joa immruad tfraa pjnots cjr aimf yair
tfaraictar. Ippgnmiots wntf fnkfar pjnots fid prnjrnty. Tfa murraot agnknlga mrntarnjo ns gass tfioFE$<2,;92 `jotfgy nomj`a no tjtig cjr i cjur-parsjo fjusafjgd, wntf gass tfio FE$4=3,222 cjri dapjsnt.
Qodarpnoonok R\F wis i mjovarsnjo jc tfa fjusnok iutfjrnty„s FE$1 lnggnjo no jutstiodnokdalts crj` kjvaro`aot mjotrnlutnjos, iod notarast-craa giod cjr i rapiy`aot parnjd jc 42 yairsictar 9>62. Ly tfa aod jc <29=, jvar <.9 `nggnjo pajpga gnvad no R\F5 fjwavar, nt ns dnccnmugt tj`jontjr tfa lattar-jcc, sj `ioy noagnknlga ci`ngnas ira stngg gnvnok no R\F. Tj timega tfns prjlga`,prnjrnty-purmfisa FJ] cgits iod cugg-`ireat raots fiva lakuo cjr tfasa parsjos.
<.<.< Fj`a Jwoarsfnp ]mfa`a
Nontnitad no 9>;;, 4<,222 FJ] cgits cjr siga wara tj la lungt ly 9>61/63, wntf io ivarika snza
latwaao =; iod 13 squira `atars. I pirmag jc 91-yair nostigg`aots wntf ;.1%”>.2% notarastritas iod i `non`u` 92% djwo piy`aot wis suppjrtad ly gaidnok lioes cjr io FJ]purmfisa. Tfa nontnig nomj`a mip cjr agnknlga FJ] fjusafjgds wis FE$=,122 par `jotf. Lacjratfa FJ] maisad no <22=, <<2,222 cgits wara lungt iod sjgd tj gjw-nomj`a ci`ngnas. Joa `arnt jctfa FJ] wis tj sfjrtao tfa ivarika wintnok tn`a jc oaw R\F ippgnmiots ly iggjwnok R\Ftaoiots tj ittino fj`ajwoarsfnp wntf =2%”42% dnsmjuots jo tfa `ireat vigua jc i cgit. Joada`arnt jc tfa FJ] wis nts ragitnvagy gjw fjusnok quignty.
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IDLN [jrenok Ripar 133 Gn
9=
Tfara wara twj cjr`s cjr FJ] ippgnmitnjo8 i kraao cjr` cjr pulgnm samtjr taoiots, iod i wfntacjr` cjr prnvita samtjr taoiots. Cjr ljtf cjr`s, ippgnmiots fid tj la ikad <9 yairs jr iljva,wntf it gaist twj ragitad parsjos no tfa ci`ngy. Cjr tfa wfnta-cjr` ippgnmiots, tfanr fjusafjgdnomj`as mjugd ojt axmaad FE$92,222 par `jotf cjr i snokga-parsjo fjusafjgd, iod oj ci`ngy`a`lar mjugd jwo ioy dj`astnm prjparty. Cjr tfa kraao-cjr` ippgnmiots, tfara wis oj gn`nt jonomj`a gavags nc tfay mfjsa tj surraodar tfanr axnstnok taoiomnas.
[ntf nts rastirt no <29<, io axtaosnjo jc tfa FJ] samjodiry `ireat wis `ida ivingilga tjwfnta-cjr` luyars, wntf i qujti jc 1,222 iggjmitnjos. ]ulsndniry smfa`as tj tfa FJ] nomgudatfa Rrnvita ]amtjr Rirtnmnpitnjo ]mfa`a iod tfa Cgit-cjr-]iga ]mfa`a, wfnmf ira in`ad itsfjrtaonok tfa wintnok gnst cjr tfa FJ], lut tfa ou`lar jc prjvnsnjos ns gn`ntad.
<.<.= 61,222 Rgio
Qpjo fns noiukuritnjo no 9>>;, Mfnac Axamutnva Tuok Mfaa-fwi pgadkad io nomraisa jc tfafj`ajwoarsfnp rita crj` 1<% tj ;2% no tfa oaxt damida, iod i damraisa no ivarika wintnoktn`a cjr R\F crj` 3.1 yairs tj =.2 yairs. Tfa i`lntnjus tirkats prj`ptad tfa lungdnok jc pulgnmiod prnvita cgits stirtnok crj` 9>>>/<222, eojwo is tfa 61,222 Rgio. Tfa pgio racarrad tj tfa
tjtig ou`lar jc 61,222 uonts jc pulgnm raotig iod prnvita jwoarsfnp cgits tj la lungt yairgy ly tfakjvaro`aot iod davagjpars tj cugcngg tfa Mfnac Axamutnva„s kjig.
Jogy no <222/29 dnd tfa imtuig mj`pgatnjo jc oaw fjusnok uonts raimf tfa gavag jc 61,222 (Tilga=). Tfa `ihjr nssua wntf tfa pgio wis nts tn`nok, is `ioy mrntnmnzad prjpjsnok tfns pgio no tfaictar`itf jc tfa Isnio cnoiomnig mrnsns, wfnmf immagaritad tfa lurst jc fjusnok lullgas iodtrippad `ioy `jrtkika luyars notj oakitnva aqunty.
6 Tfa pgio fid idviotikas, fjwavar,
lamiusa tfa ivarika wintnok tn`a cjr R\F ippgnmiots cjr fjusnok damgnoad crj` 3 tj = yairs.
Tilga =8 Eay Rarcjr`ioma Nodnmitjrs cjr tfa 61,222 Rgio
Eay
Rarcjr`iomaNodnmitjrs
Tirkat9>>>/22
Tirkat<222/29
Tirkat<229/2<
Tirkat<22</2=
Tirkat<22=/24
Tirkat<224/21
Tirkat<221/23
Tirkat<223/2;
Ou`lar jcoaw fjusnokuonts
16,222(46,122)
>2,222(6>,222)
42,222(<1,922)
=3,922(<>,2=<)
<=,622(;,632)
<9,222(<<,222)
<2,222(99,422)
;,<22
Ivarikawintnok tn`a cjr pulgnmraotig fjusnok
3 yairscjr igg,
=.1yairs cjragdargy
1 yairscjr igg, =yairs cjragdargy
4 yairscjr igg, =yairs cjr
tfaagdargy
=.1yairs cjr
igg, <yairs cjragdargy
= yairscjr igg, <yairs
cjragdargy
= yairscjr igg, <yairs cjragdargy
= yairscjr igg, <yairs cjragdargy
= yairscjr igg, <
yairscjr
agdargyOu`lar jccgits jccaradcjr siga
1<,122 16,922 =1,222
]jurma8 Fjok Ejok Fjusnok Iutfjrnty, fttps8//www.fjusnokiutfjrnty.kjv.fe/ao/nodax.ft`g (immassad Iukust <291).
6 Tfa uonotaodad accamts girkagy miusad Tuok„s airgy ratnra`aot no <221.
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IDLN [jrenok Ripar 133 Gn
94
<.<.4 Taoiots Rurmfisa ]mfa`a
Tfa TR] wis stirtad no 9>>6 iod aodad no <223. Nt in`ad tj issnst taoiots no R\F tj luy tfacgits no wfnmf tfay rasndad. ]agamtad astitas wara prjpjrtnjoiggy jccarad tj taoiots cjr
purmfisa.> Iutfjrnzad jmmupiots ikad jvar 96 yairs no R\F wara agnknlga, wntf oj rastrnmtnjo jo
tfa purmfisar„s fjusafjgd snza, nomj`a, jr jwoarsfnp. Tfa TR] iggjws luyars tj purmfisa tfanr
cgits wntf =2%”41% dnsmjuots (Tilga 4). Tfa dnsmjuot rita wis datar`noad ly tfa quignty iodgjmitnjo jc tfa TR] lungdnoks.
Tfa smfa`a fis issnstad 912,222 R\F taoiots no luynok tfanr cgits, daspnta tfa gn`ntad suppgyiod sfjrt n`pga`aotitnjo parnjd.
Tilga 48 Taoiots„ Rurmfisa ]mfa`a Cgits
Rfisa 9 Rfisa < Rfisa = Rfisa 4 Rfisa 1 Rfisa 3I/3L
Dnsmjuot rita ;2% 11% 32% 11% 11% 32%/11%Oj. jc cgits <3,>22 <;,922 <;,122 <3,494 <1,;<6 <1,;33/<=,<>2
]jurma8 Fjok Ejok Fjusnok Iutfjrnty, fttps8//www.fjusnokiutfjrnty.kjv.fe/ao/nodax.ft`g (immassad Iukust <291).
<.<.1 Fj`a Rurmfisa Gjio ]mfa`a
Tfa Fj`a Rurmfisa Gjio ]mfa`a wis notaodad tj rasattga murraot taoiots no R\F wfj fidfnkfar nomj`as tfio tfa wintnok-gnst gn`nt. Io jptnjo tj raot jr luy no tfa si`a astita wisprjpjsad tj R\F ippgnmiots wfao tfanr turo cjr iggjmitnjo mi`a up. Cjr tfjsa mfjjsnok tj luy,i 41% dnsmjuot jo tfa jpao `ireat vigua wis jccarad, wntf io notarast-craa gjio jc FE$622,222rapiyilga jvar 9= yairs jr FE$322,222 rapiyilga jvar <2 yairs. Tfa ivarika mjst jc luynoktfa cgit wis <.; tn`as tfa raotig piy`aot cjr tfa R\F taoiots, iod tfa `jotfgy mjst jc purmfisawis =2% jc `adnio fjusafjgd nomj`a. Lungdnoks cjr siga wara wntfno =2 yairs jc ika.
@ioy taoiots cjuod tfns smfa`a uoittrimtnva, lamiusa tfa mjst jc purmfisa wis =.1 tn`as tfaraot pind wntfjut n`prjva`aot no tfanr fjusnok mjodntnjos. Tfa purmfisa jc cgits igsj `aiotaxtri mjsts jc rapinr iod `inotaoioma cjr luyars mj`pirad wntf lanok taoiots. No iddntnjo, tfadnccnmugty axnstad rakirdnok ikraa`aots jc siga cjr taoiots gnvnok no tfa si`a cgit. Tfa smfa`awis, fjwavar, tfa mfaipast cjr luyars mj`pirad wntf jtfar cjr`s jc fjusnok sulsndnas.
<.<.3 ]iodwnmf Mgiss Fjusnok ]mfa`a
Tfns smfa`a in`ad it fagpnok `nddga-nomj`a fjusafjgds wfjsa nomj`a gavags(FE$=2,229”FE$32,222 par `jotf) `ida tfa` noagnknlga cjr R\F jr tfa FJ]. Qp tj <1% jc iprjparty prnma jr i tjtig gjio jc FE$112,222 wis ivingilga cjr summasscug ippgnmiots, wntf`jrtkika notarast ritas aquig tj prn`a ritas pgus 9% jr <% cjr tfa cnrst `jrtkika gjio. Figc jctfa giod prnma iod igg mjostrumtnjo mjsts wara pind ly tfa Fjok Ejok Fjusnok ]jmnaty. Cjr isamjod `jrtkika gjio, tfa Fjok Ejok Fjusnok Iutfjrnty nontnitad i =-yair notarast sulsndy
smfa`a iod i 1-yair notarast-craa rapiy`aot fjgndiy. Tfasa `aisuras gjwarad tfa accamtnvanotarast rita cjr rapiy`aot tj prn`a ritas jc gass tfio <.9<%.
Dua tj cnsmig mjostrinots jc tfa Fjok Ejok Fjusnok Iutfjrnty, tfa smfa`a wis trioscarrad tj tfaFjok Ejok @jrtkika Mjrpjritnjo no <22<. Jvar 1,;22 ci`ngnas laoacntad crj` io ivarika gjiojc FE$4;1,222, lut nt wis dnccnmugt tj jltino `jrtkika cnoiomnok ictar tfa Isnio cnoiomnig mrnsns.
> Axmapt cjr fjusnok cjr tfa agdargy iod s`igg fjusafjgd lgjmes, cgits cjr sjmnig wagcira purpjsas, iod cgits wntf
mj``jo aotriomas iod mj``uoig cimngntnas.
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
91
<.<.; Fj`a ]tirtar Gjio ]mfa`a
Tfa Fj`a ]tirtar Gjio ]mfa`a wis dasnkoad cjr cnrst-tn`a fj`aluyars tj purmfisa cgits no tfaprnvita samtjr. Tfns smfa`a prjvndad i gjw-notarast gjio (<.2%”=.1%) tj quigncnad luyars (n.a.,wntf nomj`as lagjw FE$;2,222 par `jotf) wfj fid oj prjparty jwoarsfnp no Fjok Ejok,Mfnoi, iod fid ojt jwoad wntfno gist 1 yairs. Qp tj =2% jc tfa prjparty prnma jr i tjtig gjio jc
FE$322,222 (wfnmfavar wis gjwar) wis jccarad tj cnrst-tn`a luyars wfj gimead tfa cnoiomnigmipilngnty cjr i djwo piy`aot. @jra tfio FE$94.6 lnggnjo no gjios wara kriotad tj jvar ==,222ci`ngnas iod snokga parsjos. ^at tfara wis pjssnlga ilusa jc tfa gjios tj luy fnkf-aod fjusnok,lamiusa jogy <2% jc summasscug ippgnmiots imtuiggy usad tfa gjios tj luy cgits.
<.<.6 \avarsa @jrtkika Rrjkri``a
No <299, tfa Fjok Ejok @jrtkika Mjrpjritnjo giuomfad tfa \avarsa @jrtkika Rrjkri``a tjaomjurika lioes tj jccar ravarsa `jrtkikas tj pajpga ikad 11 yairs iod iljva. Tilga 1datings tfa mjodntnjos cjr dnccaraot ika krjups jo virnjus piy`aot tar`s.
Tilga 18 ]miga jc @jotfgy Riyjut I`juo t
(par FE$9 `nggnjo jc prjparty vigua)Aotry Ika 11 ^airs 32 ^airs ;2 ^airs
Riy`aotTar`s
JoaLjrrjwar
TwjLjrrjwars
JoaLjrrjwar
TwjLjrrjwars
JoaLjrrjwar
TwjLjrrjwars
92-yair FE$=,<22 FE$<,622 FE$=,;22 FE$=,=22 FE$1,922 FE$4,32291-yair FE$<,422 FE$<,912 FE$<,622 FE$<,122 FE$=,622 FE$=,122<2-yair FE$<,212 FE$9,622 FE$<,422 FE$<,922 FE$=,=22 FE$=,222Gnca FE$9,312 FE$9,412 FE$<,222 FE$9,622 FE$=,922 FE$<,622
]jurma8 Fjok Ejok @jrtkika Mjrpjritnjo, fttp8//www.fe`m.mj`.fe/aok/ (immassad Iukust <291).
Ly <294, tfa prjkri` jogy ramanvad 3<4 ippgnmitnjos. Gneagy miusas cjr tfa gjw pirtnmnpitnjo ritanomguda gime jc iwiraoass iod eojwgadka cjr tfa smfa`a, iod axpamtitnjo tfit prjparty prnmaswjugd kj up.
<.<.> ]pnmy @aisuras
Tfa sj-miggad ‗spnmy `aisuras‐ wara i sarnas jc rastrnmtnva `aisuras tfit wara hjnotgy tieao lytfa Gaknsgitnva Mjuomng iod tfa Fjok Ejok @joatiry Iutfjrnty tj ‗mjjg djwo‐ tfa jvarfaitadprjparty `ireat no gita <292 (Tilga 3). ]pnmy `aisuras fid sfjrt-tar` n`pimts jo damraisnoktriosimtnjo vjgu`as, lut wara noaccamtnva no mjjgnok djwo prjparty prnmas.
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
93
Tilga 38 Datings jc ]pnmy @aisuras
@aisura ]]D Aofiomad ]]D L]D Djulga ISD
Cugg oi`a ]pamnig ]ti`pDuty
Aofiomad ]pamnig]ti`p Duty
Luyar ]ti`p Duty Djulga Id Sigjra`]ti`p Duty
]tirt dita Ojva`lar <292 Jmtjlar <29< Jmtjlar <29< Calruiry <29=Datings Mfirka 91% cjr
rasaggnok i prjpartywntfno 3 `jotfs,
92% cjr 3”9<`jotfs, 1% cjr9<”<4 `jotfs
Mfirka <2% cjr
rasaggnok i prjpartywntfno 3 `jotfs,
91% cjr 3”9<`jotfs, 92% cjr9<”<4 `jotfs
Cjr luyars jtfar
tfio par`ioaotrasndaots, mfirka icgit rita jc 91% cjr
igg rasndaotnigprjpartnas
Djulga tfa ritas jc
mfirka cjr igg typas jctriosimtnjos, ippgnmilgatj ljtf rasndaotnig iod
ojorasndaotnigprjpartnas
N``adnitaaccamt
Gn`ntad accamt joradumnok fjusnok
triosimtnjos
Rurmfisas ly mj`pionas iod ojogjmignodnvnduigs is i sfira jc tjtig triosimtnjosfirpgy drjppad crj` 9;% tj 4% wntfno =
`jotfs jc n`pga`aotitnjo
Gn`ntad accamt jo`jdaritnok fjusnok
prnmas
<.= ]u``iry jc Rjgnmy Nostru`aots
Tilga ; prjvndas i su``iry jc tfa `ihjr fjusnok pjgnmnas tfit fiva laao n`pga`aotad no FjokEjok, Mfnoi snoma tfa 9>;2s.
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
9;
Tilga ;8 @itrnx jc Fjusnok Rjgnmnas no Fjok Ejok, Mfnoi
Oi`a\avarsa @jrtkika
Rrjkri``aFj`a Jwoarsfnp
]mfa`a
TaoiotsRurmfisa]mfa`a
Fj`aRurmfisa
Gjio]mfa`a
Fj`a ]tirtarGjio
]mfa`a
]iodwnmfMgiss Fjusnok
]mfa`a
Rulgnm\aotig
Fjusn ok 61,222 Rgio ]pnmy @aisuras
Rarnjd ]noma <299 9>;;”<22=, <29<” tjdiy
9>>6”<223 9>66”<22< 9>>6”<22< ]noma 9>>= ]noma 9>1= 9>>;”<22= ]noma <292
Rjgnmyjlhamtnva
Fagp agdargyfj`ajwoars n`prjvatfanr ratnra`aot gnvas
\a`jva lattar-jccci`ngnas no R\F tj`iea rjj` cjrtfjsa wntf `jraurkaot fjusnokoaads, iod prjvndaci`ngnas jwoarsfnpjppjrtuontnas jtfartfio crj` tfaprnvita samtjr
Issnst R\Ftaoiots tjluy tfa cgitsno wfnmf tfayrasnda iticcjrdilgaprnmas
Aomjurikapurmfisa jcprnvitasamtjr cgits,ragaisa iodradavagjpraotigastitas cjr`jra oaadyci`ngnas
Issnst cnrst-tn`a luyarswntf gjw iod`nddganomj`as tjluy tfanr jwoprjpartnas
Fagp `nddga-nomj`a luyars,wfj iranoagnknlga cjrR\F jr tfaFJ], tj jwofj`as no tfaprnvita samtjr
Aoilgaa`pgjyad lutgjw-nomj`aci`ngnas tjrasnda nodamaotfjusnok
Nomraisafj`ajwoar-sfnprita crj` 1<% tj;2% no tfa oaxtdamida, iodraduma R\Fwintnok tn`a crj`3.1 yairs tj =.2yairs
Mjjg djwo tfajvarfaitadprjparty `ireat
Rjgnmy tirkat \asndaots wntffj`ajwoarsfnp ikad11 yairs jr iljva,usuiggy uppar-mgissagdargy
Gjw-nomj`afjusafjgds noR\F, oumgairci`ngnas wntf gjwnomj`as ioddapjsnts no tfaprnvita samtjr
R\Ffjusafjgdscnrst aotarnokfj`ajwoarsfnp,tfa cnrst stapjo tfafjusnokgiddar
R\F taoiotswntfnomj`aslagjwFE$=2,222par `jotf
Cnrst-tn`afj`aluyarswntf nomj`aslagjwFE$;2,222par `jotf
@nddga-nomj`afjusafjgds(n.a.,FE$=2,229” FE$32,222 par`jotf)
Gjw nomj`afjusafjgds
Igg fjusafjgds ]pamugitjrs,ojogjmig luyars,fnkf-nomj`aci`ngnas
8/18/2019 Housing Policies in Hong Kong, China and the People’s Republic of China
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IDLN [jrenok Ripar 133 Gn
96
Nostru`aot
iod pjgnmy
mjotaots
\avarsa `jrtkikagjios ly Fjok Ejok@jrtkikaMjrpjritnjo, caasmfirkad crj` iodrnses nosurad lypirtnmnpitnok lioes
Agnknlga taoiotsmio luy io FJ]cgit wntf dnsmjuotlatwaao =2%” 42% lagjw tfaastn`itad `ireatvigua
Dnsmjuotadprnmasmjvarad lyFEFI, 11%” ;2% jcissassad`ireatviguas
Jparitad lytfa FEFI,notarast-craagjiorapiyilgacjr up tj <2yairs jrojorapiy-ilga `jotfgysulsndy cjr46 `jotfs
Id`nonstaradly tfa FEF]is tfakjvaro`aot„sikaot, <.2%notarast cjrci`ngynomj`aslagjwFE$=2,222,=.1% cjrci`ngy
nomj`asFE$=2,222” FE$;2,222,iljut 3,222gjios par yair
Nontniggyid`nonstarad lytfa FEF],trioscarrad tjtfa Fjok Ejok@jrtkikaMjrpjritnjo,figc giod prnmaiod iggmjostrumtnjomjsts pind, cgitssjgd it
mjomassnjoiryprnma lagjw`ireatpravingnok prnma
I qujti-iod-pjnot systa`tj aviguitatfa adnlngnty jcR\Fippgnmiots,lisad jotfanr ikasiod wintnoktn`as
I sat jc eayparcjr`iomanodnmitjrs tj`aisura iod`jontjr tfaprjkrass (a.k.,ou`lar jc oawcgits tj laprjvndad,ivarika wintnoktn`a cjr R\F,ou`lar jc
jwoarsfnp cgitscjr siga, ou`larjc fjusnok gjiosprjvndad)
N`pga`aotitnjo jcspamnig sti`pduty iod ntsaofiomad luyarssti`p duty, iodid vigjra` sti`pduty5 miomaggitnjojc MipntigNovast`aotAotriot ]mfa`a
@arnts Cgaxnlga piy`aotiod radaa` tar`s,oj rapiy`aot durnokgncatn`a, uogjme fj`aaqunty notj rakugiriod mjosnstaot misfcgjws cjr agdars
Mj`pgatnjo jc jvar<<2,222 uonts jcFJ] cgits latwaao9>62”<224
Mj`pgatnjojc jvar912,222 cgits,dnsmjuotnok=2%”41% cjrluyars
Mfaipastwiy tjimmassfj`ajwoarsfnpcjrfjusafjgdsjc `jdaritanomj`a
Jvar ==,222ci`ngnas iodnodnvnduigskat ioivarika jcFE$412,222no gjios
Jvar 1,;22ci`ngnas kriotadio ivarika jcFE$4;1,222 nogjios
Ly tfa aod jc<29=, jvar<.9 `nggnjopajpga gnvadno R\F
Ivarika wintnoktn`a cjr R\Fdamgnoad tj =yairs cjr igg iod< yairs cjr tfaagdargy
]fjrt-tar` accamtsjo lrnoknok djwoprjparty prnmas,pravaotnjo jcojogjmig luyarsiod spamugitjrs
Da`arnts Ojt ippgnmilga tjgjw-nomj`a iodojofj`ajwoars,pirtnmnpitnjo ritasurprnsnokgy gjw,nomraisad nomj`apjgirnzitnjo nc `jra
pajpga hjnoad tfaprjkri`
Axmgusnjo cjr tfanomj`a liodn``adnitagy iljvants purmfisnok gn`nt,sfjrtika jc fnkf-mgiss fjusnok
Gn`ntadsuppgy iodragitnvagysfjrtn`pga`aoti-tnjo parnjd,dua tj tfa
cnsmigdnccnmugty jcfjusnokiutfjrnty
Gime jc`jtnvitnjocjr R\Ftaoiots,uoiccjrd-ilga tj `jstprjspamtnva
luyars, fnkftfrasfjgd cjrikraa`aotjc siga
Rjssnlgailusa jc gjiotj luy fnkf-aod fjusnok,jogy <2%imtuiggy usadtfa gjio tj
luy cgits,mrntnmnzad cjrimmagaritnoktfa prjpartylust
]firp drjp noprjparty prnmassnoma 9>>;`ida nt dnccnmugttj jltino`jrtkikacnoiomnok cjr
luyars
Dnccnmugt tj`jontjrlattar-jcc iodtfus noagnknlgaci`ngnas stngggnvnok no R\F,kjigs sat
uodar GTF]nocgaxnlga tj`ireatidhust`aot
Kjjd notaotnjo,lid tn`nok,mjnomndnok wntftfa Isniocnoiomnig mrnsns,lgi`ad cjrmiusnok tfa
mjggipsa jc tfaigraidyvugoarilgaprjparty `ireat
Jogy fiva sfjrt-tar` n`pimt jotriosimtnjovjgu`a, gnttgaaccamt jo radumnokasmigitnokprjparty prnmas
FEFI 0 Fjok Ejok Fjusnok Iutfjrnty, FEF] 0 Fjok Ejok Fjusnok ]jmnaty, FJ] 0 Fj`a Jwoarsfnp ]mfa`a, GTF] 0 Gjok Tar` Fjusnok ]tritaky, R\F 0 pulgnm raotigfjusnok.
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IDLN [jrenok Ripar 133 Gn
9>
=. FJQ]NOK RJGNMNA] NO TFA RAJRGA„] \ARQLGNM JC
MFNOI
=.9 Fjusnok @ireatLacjra tfa 9>>2s, tfa R\M `inotinoad i wagcira fjusnok systa` tj prjvnda pulgnm fjusnok cjr
a`pgjyaas jc stita-jwoad aotarprnsas (]JAs). Qodar tfns systa`, tfa ivarika gnvnok spima no
urlio irais nomraisad crj` 4.1 squira `atars par parsjo no 9>4> tj 3.; squira `atars parparsjo no 9>;6 (Kij <292). Tfns systa`, fjwavar, n`pjsad faivy lurdaos jo ]JAs iod, tfus,gjwarad tfa accnmnaomy jc fjusnok prjvnsnjo.
Tj mjpa wntf nosuccnmnaot iod noidaquita fjusnok, no tfa `nd-9>62s, tfa kjvaro`aot nontnitad
axparn`aotig fjusnok sigas no sagamtad mntnas tj kriduiggy racjr` tfa wagcira fjusnok systa`.Tfa `ireat tfus waot tfrjukf i triosntnjo crj` i wagcira fjusnok prjvnsnjo systa` tj i
duig-trime systa` mj`prnsnok wagcira fjusnok iod sulsndniry fjusnok (9>63”9>>1), cjggjwad ly
triosntnjo tj i mj``jdnty fjusnok systa` (9>>1”9>>6). ]tirtad no 9>63, axparn`aotig fjusnok
sigas no cjur pngjt mntnas dnvndad fjusnok mjsts notj tfraa mitakjrnas8 tfa stita, gjmig aotarprnsas,iod nodnvnduig taoiots. Ictar 91 yairs jc trnig iod arrjr, i mj``jdnty fjusnok `ireat wis
avaotuiggy astilgnsfad no 9>>6. ]noma tfao, tfa prjparty `ireat fis davagjpad ripndgy, iod tfa
urlionzitnjo prjmass fis immagaritad. Ly <29=, jvar 1=% jc tfa tjtig pjpugitnjo gnvad no urlioirais, iod tfa ivarika gnvnok spima no urlio irais fis nomraisad tj =2.9 squira `atars par
parsjo.92 Fj`ajwoarsfnp ritas fiva igsj nomraisad tj 66% cjr urlio iod >3% cjr rurig
rasndaots, iod tjtig vimiomy ritas fiva raimfad <=%.99
Igtfjukf tfa urlionzitnjo prjmass fis qunmeaoad, i ou`lar jc amjoj`nm iod sjmnig prjlga`s
fiva irnsao. Joa ns tfa gime jc a`pgjy`aot jppjrtuontnas cjr oaw uonvarsnty kriduitas. @istar
iod djmtjrig kriduitas cnod nt avao `jra dnccnmugt tj cnod i hjl, dua tj tfa gime jc fnkf-aodjppjrtuontnas. Gjokar uonvarsnty stiys usuiggy nodnmita i gime jc adumitad giljr cjr samjod- jr
tfnrd-tnar mntnas, lut ojt cjr cnrst-tnar mntnas sumf is Lanhnok, Kuiokzfju, iod ]fiokfin. Tfa gjknm nstfit cnrst-tnar mntnas fjst i `ihjrnty jc tjp uonvarsntnas, tfus i wagg-adumitad giljr suppgy ns no
axmass. Cjr samjod- jr tfnrd-tnar mntnas, nt ns tfa jppjsnta lamiusa tfasa mntnas ira gass ittrimtnvano tar`s jc wika iod urlio dnvarsnty tj wagg-adumitad giljr.
Iojtfar prjlga` ns vimiot fjusnok. Dua tj tfa Joa-Mfngd Rjgnmy, `jst yjuok pajpga ljro no tfa
9>62s iod 9>>2s crj` urlio irais dj ojt fiva snlgnoks. Fjwavar, no rurig irais, tfns pjgnmywis gass sarnjusgy jlsarvad. Tfa dnccaraoma gaids tj n`ligiomad urlio”rurig krjwtf iod idnstjrtad raotig `ireat. ]noma <222, tfa pjst-9>62s kaoaritnjo ljro uodar tfa Joa-Mfngd Rjgnmy
fis aotarad notj `irrnikailga ika. Is notarkaoaritnjoig ci`ngy waigtf ns pissad djwo no tar`s
jc fjusnok, urlio mjupgas `iy cima i sntuitnjo no wfnmf tfay wngg fiva `jra tfio joa fjusnokuont, tfus gaidnok tj sulstiotnig vimiot fjusnok. Fjwavar, cjr pajpga ljro no rurig irais wfj
mfjjsa tj wjre no urlio irais, tfasa axnstnok fjusnok stjmes ira uoiccjrdilga tj purmfisa.
@jst jc tfa` mfjjsa tj raot, is tfa prnma”raot ritnj ns fnkfar tfio tfa prnma”nomj`a ritnj.Mjggamtnvagy jwoad ly tfa pajpga, no primtnma, giod-usa rnkfts iod tfanr trioscar ravaouas waradatar`noad iod mjggamtad ly gjmig kjvaro`aots. Tfa sapiritnjo jc jwoarsfnp iod gaisa rnkfts
stn`ugitad gjmig kjvaro`aots tj ta`pjrirngy ljrrjw `jra giod crj` tfanr pajpga cjr `jra urkaotusa, sumf is aofiomnok gjmig nocristrumtura iod ittrimtnok cjranko dnramt novast`aot tfrjukf gjw
92 Oitnjoig Luraiu jc ]titnstnms jc Mfnoi, fttp8//www.stits.kjv.mo/aokgnsf/stitnstnmigditi
99]jutfwastaro Qonvarsnty jc Cnoioma iod Amjoj`nms. Mfnoi Fjusafjgd Cnoioma ]urvay. fttp8//www.mfcsditi.jrk/
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IDLN [jrenok Ripar 133 Gn
<2
jr zarj giod prnmas. Lamiusa fnkfar amjoj`nm krjwtf aofiomad tfanr mfiomas jc pjgntnmigprj`jtnjo (Gn iod Xfju <221), gjmig jccnmnigs„ last stritaky wis tj mjggamt `jra giod-gaisaravaoua cjr suppjrtnok KDR krjwtf. @jrajvar, lamiusa tfa ojr`ig parnjd jc taoura jc gjmig
jccnmnigs wis 1 yairs, tfa mjsts jc murraot kjvaro`aot damnsnjo `iears wara usuiggy rapind ly
tfanr summassjrs. Tfus, tfa `jra tfay ljrrjwad, tfa gass gneagy tfay wara tj rapiy tfa gjios ly
tfa`sagvas. Nt ns ojt surprnsnok tfit giod sigas iod prjparty prnmas nomraisad signaotgy jvar tfa
gist damida (Cnkura 92).
Cnkura 928 Giod ]iga Rrnmas iod Rrjparty Rrnmas
(MO^ par squira `atar)
]jurma8 Oitnjoig Luraiu jc ]titnstnms jc Mfnoi, fttp8//diti.stits.kjv.mo/.
No 9>>4, tfa R\M a`liread upjo tix iod cnsmig racjr` tj rapgima tfa pravnjus dnsmratnjoiry
cnsmig mjotrimt systa`. Qodar tfa oaw cnsmig iggjmitnjo systa`, tfraa-quirtars jc tfa virnilgaprjdumt tix crj` tfa `ioucimturnok samtjr wis radnstrnlutad tj tfa maotrig kjvaro`aot (Cnkura
99). Tj suppjrt amjoj`nm krjwtf, gjmig kjvaro`aots fid tj saae axtri sjurmas jc nomj`a.Giod-gaisa ravaoua, faoma, lami`a io n`pjrtiot mfiooag tj cngg tfa kip latwaao gjmig cnsmignomj`a iod axpaodntura. @jra ramaotgy, tfa cnsmig stn`ugus pimeika no <22> straoktfaoad tfa
gnoeika latwaao tfa prjparty `ireat iod raig amjoj`y, `ienok gjmig jccnmnigs `jra ragniot jogiod gaisas tj suppjrt amjoj`nm davagjp`aot (Daok, at ig. <299).
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IDLN [jrenok Ripar 133 Gn
<9
Cnkura 998 Rarmaot jc Cnsmig Nomj`a iod Axpaosa jc Gjmig Kjvaro`aots
]jurma8 Oitnjoig Luraiu jc ]titnstnms jc Mfnoi, fttp8//diti.stits.kjv.mo/.
=.< @ihjr Fjusnok Rjgnmnas
Nontniggy, 62% jc tfa pjpugitnjo wis tj gnva no Amjoj`nm iod Mj`cjrtilga Fjusnok (AMF), 91% no
Mfaip \aotig Fjusnok (M\F), iod tfa rast no prnvita fj`as. Fjwavar, tfa dacgitnjo prassurasnoma 9>>6/>> fid cjrmad tfa kjvaro`aot tj knva up tfns kjig iod tj tiea suppjrtnva `aisuras
tj cjstar mj``jdnty fjusnok davagjp`aot (Tilga 6).
Tilga 68 ]uppjrtnva @aisuras tj Cjstar Fjusnok @ireat Davagjp`aot
]tirt Dita Nssunok Iutfjrnty @ino Mjotaots
Hugy 9>>6 Tfa ]tita Mjuomng Ioojuoma astilgnsf`aot jc tfa mj``jdnty fjusnok
`ireatCalruiry 9>>> Rajpga„s Lioe jc Mfnoi Gjwar 9-yair nodnvnduig fjusnok gjio rita tj 1.16%
]apta`lar9>>>
Rajpga„s Lioe jc Mfnoi Gjwar 1-yair Fjusnok Rrjvndaot Cuod gjio rita tj4.94%
Jmtjlar 9>>> Rajpga„s Lioe jc Mfnoi Axtaod piylime parnjd cjr nodnvnduig fjusnok gjios tj=2 yairs
Jmtjlar 9>>> ]tita Id`nonstritnjo jcTixitnjo
Axa`pt tixas mfirkad jo tfa Fjusnok Rrjvndaot Cuod
]apta`lar<222
]tita Id`nonstritnjo jcTixitnjo
\aduma raot nomj`a tix tj =%
]jurma8 Gn iod Mfniok (<29<).
No <22=, tfa ]tita Mjuomng cjr`iggy iliodjoad tfa pgio jc AMF is tfa `ino fjusnok suppgy, iod
tfa `ireat aotarad i parnjd jc ripnd axpiosnjo. Ivarika oitnjoig fjusnok prnmas nomraisad ly94;% crj` <22= tj <29<. @ioy rakugitnva iod rastrnmtnva pjgnmnas wara n`pga`aotad durnok tfnsparnjd (Tilga >), lut `jst wara uoilga tj mjjg djwo tfa `ireat dua tj prnomnpig”ikaot
prjlga`s latwaao tfa maotrig iod gjmig kjvaro`aots (Kij <2925 Gn, Mfniok, Mfjy, <299).
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IDLN [jrenok Ripar 133 Gn
<<
Tilga >8 \akugitnva iod \astrnmtnva @aisuras tj @adnita Fjusnok Rrnmas
]tirt Dita Nssunok Iutfjrnty @ino Mjotaots
Huoa <22= Rajpga„s Lioe jc Mfnoi Nomraisa `non`u` djwo piy`aot ritnj cjr fj`aluyarstj <2%
@irmf <221 Rajpga„s Lioe jc Mfnoi Nomraisa `non`u` djwo piy`aot ritnj cjr fj`aluyars
tj =2%@iy <223 ]tita Id`nonstritnjo jc
TixitnjoMfirka lusnoass tix jo samjodiry fjusnok `ireattriosimtnjos
Hugy <223 ]tita Id`nonstritnjo jcTixitnjo
Mfirka viguad-iddad tix jo samjodiry fjusnok`ireat triosimtnjos
]apta`lar <223 ]tita Id`nonstritnjo jcCjranko Axmfioka@nonstry jc Fjusnok iodQrlio-\urig Davagjp`aot
Cjrlnd cjranko luyars crj` purmfisnok dj`astnmmj``jdnty fjusnok
@irmf <22;” Iukust <226
Rajpga„s Lioe jc Mfnoi@nonstry jc Fjusnok iodQrlio-\urig Davagjp`aot
Nomraisa rasndaotnig gjio ritas 3 tn`as, dapjsnt rasarvaritnj 9= tn`as, Fjusnok Rrjvndaot Cuod gjio ritas 3tn`as no i rjw
Iprng <292 Tfa ]tita Mjuomng \astrnmt purmfisas, iod rastrnmt gjios
]jurma8 Gn iod Mfniok (<29<).
Ipirt crj` amjoj`nm iod cnoiomnig pjgnmnas, i ou`lar jc fjusnok smfa`as iod `aisuras wara
n`pga`aotad jvar tfa gist < damidas.
=.<.9 Amjoj`nmig iod Mj`cjr tilga Fjusnok
AMF, eojwo is Hnokhn ]fnyjok Ciok, wis notrjdumad ly tfa kjvaro`aot tfrjukf tfa Damnsnjojo tfa Daapaonok jc Qrlio Fjusnok ]ysta` \acjr` no 9>>4, tj `nddga- iod gjw-nomj`aci`ngnas it tfa cugg-mjst jr stiodird prnma, wfnmf wis aquig tj tfa cugg-mjst prnma pgus i `ixn`u`
jc =% prjcnt `irkno (Gn <29<). Gjmig kjvaro`aots it prjvnomnig gavags iod lagjw wara knvao tfa
ugtn`ita iutjoj`y tj pgio cjr AMF, ndaotncy gjw-nomj`a ci`ngnas quigncnad, iod rasarva giod cjr
AMF davagjp`aot. Gjmig kjvaro`aots wara raqunrad tj mjvar tfa sulsndniry mjsts iod prjvndagiod rasjurmas. Tfa prnma dnsmjuot wis ojt mjvarad ly tfa maotrig kjvaro`aot.
Mjomaronok ravaouas, ljtf gjmig kjvaro`aots iod prjparty davagjpars wara ojt `jtnvitad tjlungd AMF uodar tfns irrioka`aot. AMF dnd ojt mjotrnluta tj tfa cnsmig nomj`as jc gjmig
kjvaro`aots, iod tfa prjcnt `irkno jc =% wis ojt ittrimtnva tj prjparty davagjpars. AMF
mj`prnsad 99% jc tjtig raig astita novast`aot no <222, iod damgnoad tj jogy =% no <22; (Cnkura9<). @jst AMF wara lungt uodar mj`prj`nsad mjotrimts latwaao gjmig kjvaro`aots iodprjparty davagjpars5 joma davagjpars notaodad tj lirkino cjr sj`a giod, tfay wara usuiggy
isead ly gjmig iutfjrntnas tj lungd AMF jo tfa giod.
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IDLN [jrenok Ripar 133 Gn
<=
Cnkura 9<8 Rrjpjrtn jo jc Rrjparty Novast`aot
AMF 0 Amjoj`nm iod Mj`cjrtilga Fjusnok.]jurma8 Gn (<29<).
Gjmig jccnmnigs fid jtfar nomaotnvas tj prjvnda AMF. No Lanhnok, durnok <223”<292, tfa `uonmnpig
kjvaro`aot lungt jvar 91 `nggnjo squira `atars jc AMF cjr gjmig rasndaots tj immj``jditatfjsa wfj wara rasattgad cjr tfa <226 Jgy`pnms (Gn <29<).
Davagjpars igsj mjosndarad AMF prjhamts prjcntilga nc tfanr oatwjres wntf gjmig jccnmnigs warastrjok. No Oiohnok, i`jok ;3 iccjrdilga fjusnok prjhamts mirrnad jut ly =4 prjparty davagjpars
crj` <22< tj <292, 31 wara uodartieao ly davagjpars wfj fid mgjsa ragitnjosfnps wntf gjmigkjvaro`aots (^ju, [u, Fio <299)5 43 wara prjhamts ly 96 kjvaro`aot sulsndniry prjparty
davagjp`aot mj`pionas5 94 prjhamts wara ly > prjparty davagjp`aot mj`pionas racjr`ad crj`
kjvaro`aot dapirt`aots5 iod 1 prjhamts wara ly 4 prjparty davagjp`aot mj`pionas iccngnitadwntf ]JAs.
Lamiusa nt wis ojt i krait summass, AMF kriduiggy dnsippairad crj` jccnmnig djmu`aots ictar<226.
=.<.< Fjusnok Rrjvndaot Cuod
Tfara ira kaoariggy twj typas jc fjusnok cnoioma systa`s8 i `ireat-lisad nostntutnjo notakritadnotj tfa lrjidar cnoiomnig systa`, jr i sagc-cuodad mnrmunt nostntutnjo sapiritad crj` tfa rast jc
tfa cnoiomnig systa` (Mfao iod Daok <294). Tfa Fjusnok Rrjvndaot Cuod (FRC) lagjokad tjtfa gittar systa`, wfnmf wis i mj`pugsjry sivnoks smfa`a tj prjvnda sagc-cuodad fjusnokmradnt cjr fjusnok cnoioma. Is i ljttj`-up nostntutnjoig noojvitnjo, tfa FRC wis ravnsad crj` tfa
axi`pga jc tfa Maotrig Rrjvndaot Cuod no ]nokipjra.
A`pgjyars iod a`pgjyaas jc tfa pulgnm samtjr iod ]JAs ljtf mjotrnluta 1% jc a`pgjyaas„`jotfgy nomj`as tj nodnvnduig FRC immjuots. @ioikad ly i FRC maotar, tfa sivnoks ira eapt
cjr cnoiomnok a`pgjyaas„ cutura fjusnok purmfisas.
Rravnjus studnas fiva djmu`aotad i ou`lar jc `arnts jc tfa FRC, sumf is i staidy strai` jcdapjsnts (Xfiok <222) iod i mgair dacnontnjo jc rjgas iod jlgnkitnjos cjr tfa kjvaro`aot ioddavagjpars (^auok iod Fjwas <223). Tfa triosimtnjo mjsts jc `inotinonok parsjoig
ragitnjosfnps cjr civjrilga fjusnok iggjmitnjo wara nodaad gjwarad.
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IDLN [jrenok Ripar 133 Gn
<4
Ly <29<, tfara wara jvar 922 `nggnjo mjotrnlutjrs tj tfa FRC (Mfao iod Daok <294). Tfa gitastFRC rita ns 4.;% cjr gjios cjr it gaist 1 yairs iod 4.<% cjr gjios gass tfio 1 yairs. Tfa`ixn`u` FRC gjio parnjd ns =2 yairs, iod tfa tjtig gjios i`juot tj MO^9.24 `nggnjo. Fjwavar,
sagc- iod nocjr`iggy a`pgjyad wjrears iod tfjsa a`pgjyad no tfa prnvita samtjr ira ojt mjvarad
ly tfa systa`5 tfus, jogy iljut joa-quirtar jc igg urlio wjrears fiva immass tj tfa FRC ([an,
at ig. <294).
=.<.= Mfaip \aotig Fjusnok
Ictar i damida jc racjr`s, M\F rakinoad pjgnmy ittaotnjo no tfa 99tf Cnva-^air Rgio. Jvar 99
`nggnjo uonts jc pulgnm fjusnok wara lungt durnok <223”<292, iod =3 `nggnjo wara smfadugad cjr
<299”<291. Tfa oaw agnknlngnty mrntarni cjr M\F ippgnmiots wara tfit `jotfgy nomj`a la lagjwMO^1;2, iod tfa ivarika gnvnok spima la gass tfio ; squira `atars.
Lamiusa tfa nomj`a raqunra`aot ns tjj gjw cjr `jst rasndaots tj quigncy, tfa M\F fis ojt laao
wagg davagjpad. Lasndas, jogy urlio mntnzaos wfj fiva rasndaoma par`nts ira agnknlga5 oaw mntyrasndaots ira axmgudad crj` mjvarika. Gime jc aocjrma`aot ly tfa maotrig kjvaro`aot igsjmjotrnlutad tj radumnok nts accamts ([an, at ig. <294). Tfa pjgnmy `iy fiva igsj cimngntitad
kjvaro`aots tj rausa jgd vimiot fjusnok iod raojvita sfioty fjusnok. No <294, M\F wismj`lnoad wntf jtfar cjr`s jc gjw-raot fjusnok notj R\F.
=.<.4 ;2”>2 Rjgnmy
Tfa ;2”>2 Rjgnmy, jr tfa Idaquita Fjusnok Davagjp`aot ]mfa`a, racars tj tfa pjgnmy
rakugitnjo tfit it gaist ;2% jc oawgy lungt cgits snoma <223 `ust la uodar >2 squira `atars. Nt
in`s tj raduma tfa ivarika gnvnok spima tj gjwar nomraisnok fjusnok prnmas, lut fis cingadig`jst crj` tfa laknoonok. Tfa prjpjrtnjo jc oawgy lungt cgits uodar >2 squira `atars wis
lagjw =1% jc tjtig vigua snoma nts n`pga`aotitnjo8 nt wis `aragy <<% cjr <22;, iod dnd ojtsurpiss ==% cjr tfa cjggjwnok yairs (Cnkura 9=).
Cnkura 9=8 Rrjpjrt njos jc Oawgy Lun gt Cgits ly Tjtig Sigua
`< 0 squira `atar.
]jurma8 Oitnjoig Luraiu jc ]titnstnms jc Mfnoi, fttp8//diti.stits.kjv.mo/ .
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IDLN [jrenok Ripar 133 Gn
<1
\akirdnok tfns pjgnmy, prjparty davagjpars davnsad oaw cjr`s jc fjusnok mjostrumtnjo tj `aattfa raqunra`aots jc lungdnok cgits uodar >2 squira `atars lut saggnok cgits iljva >2 squira`atars. Joa wis tj idd pirtntnjoad wiggs latwaao twj s`iggar cgits, aimf sitnscynok tfa ;2”>2
Rjgnmy, lut ljtf uonts wara tfao sjgd tj joa luyar jogy. Tfao, tfa jwoar antfar puggad djwo tfa
wigg jr mjostrumtad i oaw djjr jo tfa wigg tj mj`lnoa tfa twj cgits. Iojtfar wiy wis saggnok twj
cgits—joa upstinrs iod joa djwostinrs—tj joa luyar, wfj tfao lungt stinrs tj gnoe tfa twj cgits
tjkatfar.9<
=.<.1 \astrnmtnva Rurmfisas iod \astrnmtnva Gjios
Jo =2 Iprng <292, tfa ]tita Mjuomng nssuad tfa rastrnmtnva purmfisa (xniokju) pjgnmy tj mjjgdjwo tfa jvarfaitad prjparty `ireat. \astrnmtnva purmfisas sat purmfisa gn`nts jo tfa ou`lar
jc cgits sigailga tj luyars. No 42 `ihjr mntnas, rasndaots wntf gjmig fueju (n.a., fjusafjgdraknstritnjo) jr spamnig axparts mio luy up tj twj cgits, ojogjmig rasndaots jr cjrankoars mio jogy
luy joa cgit, iod tfa notarvig cjr luynok i samjod cgit `ust la it gaist < yairs.
Joa notaotnjo jc tfa rastrnmtnva purmfisa pjgnmy, sn`ngir tj jtfar fjusnok pjgnmy nontnitnvas no tfa
R\M, wis i stita`aot laknoonok wntf ‗Tj pravaot fjusnok prnmas crj` nomraisnok tjj cist!‐
]umf cjmus mjovayad twj `aionoks8 (n) nt wjugd la notjgarilga nc tfa murraot spaad jc fjusnokprnma nomraisas mjotnouad, iod (nn) nt wjugd la noipprjprnita nc fjusnok prnmas damraisad crj`
tfanr murraot prnma gavags. Nodaad, tfa kjvaro`aot wis wnggnok tj saa fjusnok prnmas mjotnouatfanr upwird traod, lamiusa tfa raig astita samtjr wis `jra n`pjrtiot tj tfa amjoj`y tfioracgamtad ly nts sfira jc vigua iddad tj tjtig vigua iddad (Xfiok, Fio, Mfio <294).
I rnkft-tingad iuk`aotad Dnmeay-Cuggar tast ns idjptad tj axpgjra tfa pjgnmy n`pimts jc rastrnmtnva
purmfisas. Tfa tast ns irriokad no i cjrwird-ramursnva `iooar tj ndaotncy tfa jrnkno iod mjggipsa
ditas jc i lullga (Rfnggnps, [u, ^u <299). Tfa `jdag ns lisad jo tfa issu`ptnjo tfit tfafjusnok prnma”raot ritnj fis i sn`ngir lullga pittaro tj tfa prnma”aironoks ritnj jc stjme `ireats,
mjosnstaot wntf tfa nrritnjoig lullga dacnontnjo ly Misa iod ]fnggar (<22=).
Cnkura 94 datamts fjusnok lullgas no aistaro mjistig mntnas. It tfa >>% mjocndaoma gavag, snx jut
jc 91 mntnas datamtad snkos jc lullgas no <223/2;, lut wis jogy sj cjr ]faozfao no <22;/26, iod,ikino, snx mntnas no ljtf <226/2> iod <22>/92. Ictar tfa R\M n`pga`aotad tfa rastrnmtnva
purmfisa pjgnmy, ojoa jc tfa 91 mntnas fid ioy snkos jc fjusnok lullgas no <292/99. Fjwavar,
ankft mntnas fid lullgas datamtad no <299/9<. @jst mntnas fiva sfjwo snkos jc lullgas snoma<29<.
9< Tfus, luyars igsj imtad is mjostrumtnjo wjrears iod tfit `iy axpgino wfy >2% jc oawgy lungt cgits no tfa R\Mtjdiy ira stngg sjgd wntfjut ioy damjritnjo (eojwo is @ijpnciok).
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IDLN [jrenok Ripar 133 Gn
<3
Cnkura 948 Fjusnok Lullgas no Aistaro Mjistig Mntnas
Ojta8 J nodnmitas tfa axnstaoma jc i lullga cjr = `jotfs jr gjokar, V nodnmitas jtfar sntuitnjos.
Cnkura 91 su``irnzas lullga datamtnjos no maotrig nogiod mntnas. It tfa >>% mjocndaoma gavag,
`jst mntnas, axmapt Fjffjt, dnd ojt fiva snkos jc prjparty lullgas no <22>/92. ^at rastrnmtnva
purmfisas wara n`pga`aotad no igg `ihjr mntnas. Tfns gad tj uopramadaotad lullgas no `jst jctfa maotrig nogiod mntnas snoma <299/9<.
Cnkura 918 Fjusnok Lullgas no Maotrig Nogiod Mntnas
Ojta8 J nodnmitas tfa axnstaoma jc i lullga cjr = `jotfs jr gjokar, V nodnmitas jtfar sntuitnjos.
]n`ngirgy, `jst wastaro nogiod mntnas dnd ojt fiva lullgas lacjra <292, yat rastrnmtnva purmfisas
fiva daprassad rnknd fjusnok da`iod iod miusad datarrad lullgas snoma <29< (Cnkura 93).
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IDLN [jrenok Ripar 133 Gn
<;
Cnkura 938 Fjusnok Lull gas no [astaro Nogiod Mntnas
Ojta8 J nodnmitas tfa axnstaoma jc i lullga cjr = `jotfs jr gjokar, V nodnmitas jtfar sntuitnjos.
Tfa prjpjsig jc rastrnmtnva purmfisa saa`s tn`agy. Lacjra <292, fjusa prnmas no =1 `ihjr mntnaswara ojt snkoncnmiotgy fnkfar tfio wjugd la hustncnad ly uodargynok cuodi`aotigs, igtfjukf tfarawara sj`a snkos jc jvarviguitnjo no tfa `iss `ireats no ]fiokfin iod ]faozfao iod guxury
sak`aots no Lanhnok iod Oiohnok (Ifuhi, at ig. <292). Tfara wara datarnjritnok iccjrdilngntyprjlga`s ictar <22>, lamiusa tfa prnma”raot ritnjs no Lanhnok, Fiokzfju, ]fiokfin, iod
]faozfao fid surpissad 42 ([u, Kyjurej, Daok, <29<).
No gnoa wntf tfa rastrnmtnva purmfisa pjgnmy, tfa Rajpga„s Lioe jc Mfnoi n`pga`aotad tfa
rastrnmtnva gjio (xniodin) pjgnmy jo tfa si`a dita. Cjr luynok i cnrst fjusa uodar >2 squira
`atars, tfa gjwast djwo piy`aot ritnj ns <2%. Cjr luynok i samjod fjusa, tfa gjwast djwopiy`aot ritnj ns 12%. Cjr luynok i tfnrd fjusa, lioes mio racusa tj nssua `jrtkika gjios.
Qodar jtfar mnrmu`stiomas, tfa gjwast djwo piy`aot ritnj ns =2%.
Igtfjukf tfa nontnig kjig jc rastrnmtnva purmfisa wis tj pravaot fjusnok prnmas crj` nomraisnok
tjj cist, nt saa`s tfit rastrnmtnva purmfisas wara uoilga tj supprass rnknd fjusnok da`iod.\aljuod jc prjparty prnmas no ;2 `ihjr mntnas iod lullga datamtnjos jc `jst jc tfa =1 mntnas
snoma <29= ira prjlilga snda accamts jc tfns pjgnmy. Fjwavar, nt wis `jra accamtnva tfio tfa
rastrnmtnva gjio pjgnmy no mjjgnok djwo tfa jvarfaitad prjparty `ireat (Gn iod Vu <291).
=.<.3 Rrjparty Tix Axparn`aot
]fiokfin iod Mfjokqnok fid mjotnoujus lullga datamtnjo snoma <299, parfips wfy i prjparty
tix axparn`aot wis nontnitad no ljtf mntnas no Hiouiry <299. Tfns axparn`aot wis in`ad it
mfioknok tfa oitnjo„s fj`ajwoarsfnp-lnisad fjusnok pjgnmy, racgamtad ly tfa pjjr usa jc tfaFRC cjr gjw-nomj`a fjusafjgds. Rrjparty tix nomj`a wis tj la usad tj mjostrumt `jra M\F,
iod tfa prjparty tix ntsagc wis notaodad cjr dnramtnok nodnvnduig fj`ajwoars tj sagg `jra vimiotfjusnok tj la mnrmugitad notj tfa M\F samtjr. Tfa ioouig mfirka wis sat tj la aquig tj tfa
fjusa vigua ! (9 ” axa`ptnjo rita) ! 9.<%, jr fjusa raot ! 9<%. Cjr ]fiokfin, nt wis `inogymfirkad cjr oawgy ljukft fjusnok. Cjr Mfjokqnok, nt wis `inogy mfirkad cjr guxurnjus fjusnok.
Tfa axparn`aot aodad no Dama`lar <294. Tfara wis oj tn`atilga cjr tfa astilgnsf`aot jc tfa
prjparty tix systa`. Nt ns surprnsnok tfit tfa prjparty tix axparn`aot saa`ad ojt tj lawagmj`ad ly gjmig jccnmnigs, igtfjukf nt dnd nomraisa gjmig cnsmig nomj`a. Joa pjssnlngnty ns tfit
gjmig kjvaro`aots wara miutnjus iljut tfa dnstrnlutnjo jc tfa prjparty tix mjggamtad. Tfara ns oj
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IDLN [jrenok Ripar 133 Gn
<6
lguaprnot, iod tfa 9>>4 cnsmig iod tix racjr` wis i gassjo cjr gjmig kjvaro`aots notaodnok tj`ixn`nza tfanr cnsmig ravaoua. Iojtfar pjssnlngnty ns tfit, cjr samjod- iod tfnrd-tnar mntnas, tfarawara oj urkaot oaads cjr tixnok tfa stjme jc fjusnok, lamiusa tfa gjmig kjvaro`aots stngg fid
giod tj sagg. Rarfips iljva igg, fjwavar, gjmig jccnmnigs wara dnsnotarastad no sattnok up i
oitnjoig systa` cjr trimenok raig-astita jwoarsfnp iod sigas triosimtnjos.
=.= ]u``iry jc Rjgnmy Nostru`aots
Tilga 92 prjvndas i su``iry jc tfa `ihjr fjusnok pjgnmnas iod prjkri`s tfit fiva laaon`pga`aotad no tfa R\M jvar tfa gist < damidas.
Tilga 928 @itrnx jc Fjusnok Rjgnmnas no tfa Rajpga„s \apulgnm jc Mfnoi
Oi`a
FjusnokRrjvndaot
Cuod
Amjoj`nm iodMj`cjrtilga
Fjusnok
Mfaip\aotig
Fjusnok;2”>2Rjgnmy
\astrnmtnvaRurmfisa
Rrjparty TixAxparn`aot
Rarnjd ]noma 9>>9 ]noma 9>>1 9>>>”<294 ]noma <223 ]noma <292 ]noma <299
Rjgnmyjlhamtnva
Kitfarmjggamtnva
sivnoks cjrcuodnokfjusnokcnoiomasfjrtika
Rrjvndaiccjrdilga iod
damaot fjusnokcjr `nddga- iodgjw-nomj`afjusafjgds
Fagp gjwastgjw-nomj`a
krjups wntfi damaotgnvnok
Lungd ;2%jc oawgy
lungt cgitslagjw >2squira`atars
Murlspamugitnjos
iod gn`ntjwoars wntf`jra tfio twjprjpartnas, tjlrnok djwovimiomy ritas,straoktfao`jontjrnok jcfjusnoklullgas, timegatfa prjlga`sjc ;2”>2
Rjgnmy
Murlspamugitnjo
cjr guxurnjusfjusnok, gn`ntoaw fj`aluyars, iodspaad upastilgnsfnok ioitnjoigsysta` cjrraig astitajwoarsfnpiod sigastriosimtnjos
Rjgnmy tirkat A`pgjyaas jcpulgnm samtjriod ]JAs
@jdarita- iodgjw-nomj`aci`ngnas
Gjwast gjw-nomj`aci`ngnas
@nddga-nomj`afjusafjgds
@nddga- iodfnkf-nomj`afjusafjgds
@nddga- iodfnkf-nomj`afjusafjgds
Nostru`aotmjotaots
A`pgjyaasiod a`pgjyarsljtf mjotrnluta
1% jca`pgjyaas„`jotfgynomj`a tj tfacuod immjuot,immu`ugitadcjr fj`apurmfisa
cnoiomnok
Cugg-mjst prnmajr stiodirdprnma, wfnmf
wis i cugg-mjstprnma pgus i`ixn`u` jc =%prjcnt `irkno
@jotfgynomj`alagjw
MO^1;2 iodivarikagnvnok spimalagjw ;squira`atars
\aqunraprjpartydavagjpars
tj lungd;2% jc oawcgits uodar>2 squira`atars5gjmig giodiodmjostrumtnj
o luraiupgiy tfa
`jontjrnokrjgas
\astrnmtadpurmfisas no4; mntnas,
ojogjmigrasndaots jrcjrankoars miojogy luy joafjusa, notarvigcjr luynok isamjod fjusa`ust la it
gaist < yairs
[ntfaxparn`aotsno ]fiokfin
iodMfjokqnok,ioouig mfirkaaquigs fjusavigua ! (9 ” axa`ptnjorita) ! 9.<%,jr fjusa raot
! 9<%, `inogycjr oawgy
ljukftfjusnok iodguxurnjusfjusnok
@arnts Fjusnoksulsndy no
misf cjr`,staidy dapjsnt,mgair dacnontnjojc jlgnkitnjolatwaao
]tilngnzadfjusnok prnmas
no tfa triosntnjocrj` tfa wagcirafjusnok systa`tj mj``jdntyfjusnok systa`
Cimngntitadkjvaro`aot
rausa jc jgdvimiotfjusnok iodraojvitnjo jcsfioty
Rrjpjrtnjojc oawgy
lungt cgitsuodar >2squira`atars lyvigua
Rjsntnva accamtno pravaotnok
fjusnok prnmascrj`nomraisnok tjjcist (tfa accamtgists cjr twj
I mjovaotnjojc gaironok
crj` trnigs iodarrjrs
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IDLN [jrenok Ripar 133 Gn
<>
Oi`a
FjusnokRrjvndaot
Cuod
Amjoj`nm iodMj`cjrtilga
Fjusnok
Mfaip\aotig
Fjusnok;2”>2Rjgnmy
\astrnmtnvaRurmfisa
Rrjparty TixAxparn`aot
kjvaro`aotsioddavagjpars
fjusnok nomraisad yairs),cimngntita`jontjrnoknoagnknlga
iccguaotci`ngnas crj`luynok AMF
Da`arnts ]agc- iod
nocjr`iggy-a`pgjyadwjrears iods`igg prnvitacnr`sa`pgjyaas ojtmjvarad
Faivy cnsmig
lurdao cjr gjmigkjvaro`aots,agnknlngnty jcippgnmiots jctaoquastnjoad
Jogy urlio
mntnzaos wfjfivarasndaomaira agnknlga,`nkriotsaxmgudad,gime jcaocjrma`aot
`aisuras
]uldnvndad
uonts iodpirtntnjoadwiggsnovignditatfaaccamtnva-oass jcpjgnmy,
prjdumnokgirkar cgitscjr luyars
Dnstjrt `ireat
`amfions`,gjmigkjvaro`aotsragumtiot tjcjggjw, `iy latjj firsf tjdaprass rnkndda`iod
Gjmig
kjvaro`aots„strjokdnsnomaotnvasracgamtad ly idagiyadastilgnsf`aotjc oitnjoigfjusnok
nocjr`itnjosysta`
AMF 0 Amjoj`nm iod Mj`cjrtilga Fjusnok, ]JA 0 stita-jwoad aotarprnsa.
4. MJOMGQ]NJO
Tfa R\M iod Fjok Ejok, Mfnoi cuomtnjo uodar dnccaraot amjoj`nm systa`s. Tfa R\M nscuodi`aotiggy sjmnignst wntf `jra pgiooad amjoj`y caituras, wfnga Fjok Ejok, Mfnoi ns
kaoariggy mipntignst wntf `jra craa-`ireat caituras. ]umf ‗joa oitnjo, twj systa`s‐ dnstnomtnjo
taods tj la jlsmurad no tfanr fjusnok pjgnmnas, is tfara ira `jra sjmnig wagcira aga`aots no
Fjok Ejok, Mfnoi iod `jra `ireat-mj`patntnva aga`aots no tfa R\M.
I mj`pirnsjo jc tfa `ihjr fjusnok pjgnmnas n`pga`aotad no tfa R\M iod Fjok Ejok, Mfnoi
nodnmitas tfit pjgnmnas aomjuriknok prnvita iod fnkf-nomj`a fjusnok (a.k., `jrtkika notarast
rita radumtnjo) taod tj la `jra accamtnva tfio pjgnmnas civjrnok pulgnm jr gjw-nomj`a fjusnok(a.k., fjusnok sulsndnas) no `aatnok fjusnok prjvnsnjo tirkats. Rjgnmnas nocguaomnok `ireat
da`iod (a.k., rastrnmtnjo jc purmfisa) taod tj la `jra accamtnva tfio pjgnmnas nocguaomnok `ireat
suppgy (a.k., djwokridnok jc gnvnok stiodirds) no stilngnznok fjusnok prnmas.
Tfa `ino pjgnmnas no tfa R\M ira `jrtkika notarast rita radumtnjo (a.k., tfa FRC), djwokridnokjc tfa gnvnok stiodird (a.k., tfa ;2”>2 Rjgnmy), gjio”vigua iod dalt”nomj`a rakugitnjos (n.a.,rastrnmtnjos jo raig astita gjios), rastrnmtnjos jc oaw purmfisas no tfa jwoar-jmmupnad `ireat,
is wagg is raot mjotrjg no tfa raotig `ireat. Tfa `ino pjgnmnas no Fjok Ejok, Mfnoi nomgudafjusnok sulsndnas, `jrtkika notarast rita dadumtnjo, iod prjparty tix jo fjusnok purmfisas
(n.a., ‗spnmy `aisuras‐) no tfa jwoar-jmmupnad `ireat, is wagg is pulgnm fjusnok no tfa raotig
`ireat.
Tfa ravnaw jc fjusnok pjgnmnas sfjws tfit sj`a fiva davnitad crj` tfanr axpamtad jutmj`as.A`pnrnmig tasts curtfar ravaig tfit martino pjgnmnas `iy, no cimt, aogirka prjparty `ireatcgumtuitnjos dua tj pjjr tn`nok jc n`pga`aotitnjo. ]j`a gassjos mio la kgaioad crj` ravnawnok
tfasa pjgnmnas.
Joa gassjo crj` Fjok Ejok, Mfnoi ragitas tj tfa 61,222 Rgio, i pgio wntf kjjd notaotnjos lut
lid tn`nok. Joa sukkastnjo cjr tfa kjvaro`aot tj raspjod `jra accnmnaotgy tj `ireat mfiokas ns
tj ratino tfa giod triosimtnjo ippgnmitnjo systa`, wfnmf wis nontnitad no 9>>> lut miomaggad no<29=. Tfa giod triosimtnjo ippgnmitnjo systa` raqunrad gnstnok tfa pnamas jc giod tj la
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IDLN [jrenok Ripar 133 Gn
=2
davagjpad pulgnmgy lacjra tfay wara sjgd ly tfa kjvaro`aot. @ihjr davagjpars ippgnad cjr tfagiod no wfnmf tfay wara notarastad it oakjtnitad prnmas wntf tfa kjvaro`aot no idvioma. Tfa`aisura stilngnzad tfa suppgy iod da`iod jc fjusnok tfrjukf damnsnjos `ida ly tfa `ireat
nostaid jc tfa kjvaro`aot. Fjwavar, i `ihjr mrntnmns` wis tfit nt igsj aomjurikad mjggusnjo
latwaao tfa kjvaro`aot iod davagjpars.
Iojtfar gassjo crj` Fjok Ejok, Mfnoi, wfnmf `iy sfad gnkft jo tfa R\M„s rastrnmtnva pjgnmnasjo luyars, wis tfa noaccamtnvaoass jc tfa ‗spnmy `aisuras‐ jo gjwarnok fjusnok prnmas. Tfns
wis dua tj tfa isy``atrnm accamts jc nomraisnok iod damraisnok triosimtnjo mjsts jo amjoj`nmaccnmnaomy, is rinsnok triosimtnjo mjsts saa`ad gass accamtnva tj mjjg djwo prjparty prnmas tfiogjwarnok triosimtnjo mjsts tj ljjst prjparty prnmas. Faoma, nt `iy la gass accamtnva cjr tfa
R\M„s rastrnmtnva purmfisa pjgnmnas tj mjrramt tfa nomraisnok traod jc fjusnok prnmas no tfa gjok
tar`. ^at nc tfa kjvaro`aot `aragy notaodad tj pravaot fjusnok prnmas crj` nomraisnok tjj cistcjr i sfjrt tar`, rastrnmtnva purmfisa saa`s tj fiva imfnavad tfns kjig. Nodaad, rastrnmtnva
fjusnok pjgnmnas saa` tj la `jra accamtnva uodar i systa` tfit ns `jra tridntnjoiggy pgiooadtfio ̀ ireat-jrnaotad.
[fnga `jst fjusnok prjkri`s no Fjok Ejok, Mfnoi in` it issnstnok pulgnm fjusnok taoiots tjlamj`a prnvita fj`ajwoars, tfns kjig ns cir crj` lanok imfnavad, `inogy lamiusa tfasa
pjgnmnas prjvnda dnccaraot cjr`s jc fjusnok sulsndnas—i gass accamtnva `atfjd tj stn`ugitajwoar-jmmupnad fjusnok (^jsfnoj, Faglga, Inziwi <291). ]n`ngirgy, tfa AMF smfa`a fis cingadtj nomraisa tfa fj`ajwoarsfnp ritas jc gjw-nomj`a fjusafjgds no tfa R\M. Jo tfa mjotriry,tfa summass jc tfa FRC no prjvndnok `jrtkika notarast rita radumtnjo—i `jra accamtnva `aisura
tj aomjurika fj`ajwoarsfnp ittino`aot (^jsfnoj, Faglga, Inziwi <291)—`inogy immjuots cjrtfa fnkf fj`ajwoarsfnp rita no tfa R\M.
Tfara ira oj aisy sjgutnjos tj jtfar fjusnok prjlga`s no tfa R\M, sumf is tfa noaqunty jc
fjusnok waigtf iod nomraisnok fjusnok uoiccjrdilngnty. Igtfjukf viguilga sukkastnjos wara
prjpjsad jo prjparty tix racjr` (Kij <292), tfa dagiyad astilgnsf`aot jc i oitnjoig prjpartytix systa` nodnmitas tfa mj`pgax ragitnjosfnp latwaao tfa maotrig iod gjmig kjvaro`aots, wfnmf`ieas fjusnok noaquignty `jra dnccnmugt tj timega. Joa sukkastnjo ns tj nomraisa tfa giod suppgy
tfrjukf ragjmitnok rurig rasndaots tj lungdnoks jo tfa urlio”rurig crnoka. \urig rasndaots stngg cnodnt dnccnmugt tj immass adumitnjo iod `adnmig rasjurmas, tfa cjr`ar lanok `jra ragaviot tj tfa
yjuokar kaoaritnjo iod tfa gittar mrntnmig tj tfa agdargy. Tfrjukf i gu`p-su` mj`paositnjo cjr
rurig pajpga, gjmig kjvaro`aots imqunra mjggamtnvagy jwoad giod no rurig irais. Tfns ns dnccaraotcrj` tfa kjvaro`aot„s murraot stritaky jc urlionzitnjo, wfnmf cjmusas jo rasattgnok rurig”urlio`nkriots wfj ira `inogy `nddga-ikad iod wjre no i mnty. Tfa gjok-tar` tirkat ns tj aofioma tfa
adumitnjo gavags jc yjuok pajpga crj` rurig irais, iod tj prjvnda lattar `adnmig sarvnmas cjr tfa
agdargy. Mj`paositnjo, parsjoig davagjp`aot, iod faigtf mira axpaosas mio la cuodad crj`virnjus mfiooags, sumf is tfa maotrig kjvaro`aot„s trioscar piy`aots5 rapiy`aots jc
caggjwsfnps iod djoitnjos crj` kriduitas5 i vjguotiry novast`aot cuod cjr urlio davagjp`aot,gnea tfa fj`atjwo novast`aot trust cuod prjpjsad cjr Hipio (^jsfnoj iod Tikfnzidaf-Fasiry<294)5 iod i `ioditjry smfa`a cjr paosnjo cuods iod faigtf nosurioma sumf is tfa @ioditjry
Rrjvndaot Cuod no Fjok Ejok, Mfnoi.
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IDLN [jrenok Ripar 133 Gn
=9
\ACA\AOMA]*
Ifuhi, I., G. Mfauok, K. Fio, O. Rjrtar, iod [. Xfiok. <292. Ira Fjusa Rrnmas \nsnok TjjCist no Mfnoi: Notaroitnjoig @joatiry Cuod (N@C) [jrenok Ripar [R/92/<;4. [isfnoktjo,
DM8 N@C.
Misa, E. A., iod \. H. ]fnggar. <22=. Ns Tfara i Lullga no tfa Fjusnok @ireat: LrjjenoksRipars jo Amjoj`nm Imtnvnty <22=(<)8 <>>”=3<.
Mfao, H., iod G. Daok. <294. Cnoiomnok Iccjrdilga Fjusnok tfrjukf Mj`pugsjry ]ivnok8 Tfa
Twj-Damida Axparnaoma jc Fjusnok Rrjvndaot Cuod no Mfnoi. Fjusnok ]tudnas <>(;)8
>=;”>16.
Da`jkripfni. <291. 99tf Ioouig Da`jkripfni Notaroitnjoig Fjusnok Iccjrdilngnty ]urvay.
fttp8//www.da`jkripfni.mj`/.
Daok, ^., \. @jrme, H. [u, iod L. ^auok. <299. @joatiry iod Cnsmig ]tn`ugn, Jwoarsfnp]trumtura, iod Mfnoi's Fjusnok @ireat. Oitnjoig Luraiu jc Amjoj`nm \asairmf (OLA\)
[jrenok Ripar w936;9. Mi`lrndka, @I8 OLA\.Kij, G. <292. Imfnava`aots iod Mfiggaokas8 =2 ^airs jc Fjusnok \acjr`s no tfa Rajpga„s
\apulgnm jc Mfnoi. Isnio Davagjp`aot Lioe (IDL) [jrenok Ripar 9>6. @iongi8 IDL.
Fjok Ejok Fjusnok Iutfjrnty. 9>6;. Gjok Tar` Fjusnok ]tritaky. Fjok Ejok, Mfnoi.
””””””””””. 9>>6. Fj`as cjr Fjok Ejok Rajpga notj tfa <9st Maotury. Fjok Ejok, Mfnoi.
Gn, F., iod G. I. Xfju. <221. Rjgntnmig Turojvar iod Amjoj`nm Rarcjr`ioma8 Tfa Nomaotnva \jgajc Rarsjooag Mjotrjg no Mfnoi. Hjuroig jc Rulgnm Amjoj`nms 6>(>)8 9;4=”9;3<.
Gn, H. <29<. [fit Miusas Nosuccnmnaot Iccjrdilga Fjusnok Rrjvnsnjo no Mfnoi: Fjok Ejok
Nostntuta jc Rgiooars Hjuroig <;(9)8 43”1;.
Gn, H., iod ^. F. Mfniok. <29<. [fit Rusfas up Mfnoi's \aig Astita Rrnma: Notaroitnjoig Hjuroig
jc Fjusnok @ireats iod Ioigysns 1(<)8 939”9;3.
Gn, H., ^. F. Mfniok, iod G. Mfjy. <299. Maotrig”Gjmig Mjocgnmt iod Rrjparty Mymga8 I Mfnoasa
]tyga. Filntit Notaroitnjoig =1(9)8 9<3”9=<.
Gn, H., iod ^. Vu. <291. Aviguitnok \astrnmtnva @aisuras Mjotinonok Fjusnok Rrnmas no Mfnoi8 IDiti Aovagjp`aot Ioigysns Ipprjimf. Qrlio ]tudnas 224<2>62911>41>4 djn8
92.99;;/224<2>62911>41>4.
Gn, H. S. <294i. Amjoj`nm iod ]jmnig \astrumturnok8 Fjusnok N`pgnmitnjos cjr ^juok Rajpga no
Fjok Ejok. ]]\O [jrenok Ripar <4;3<36. Fjok Ejok, Mfnoi8 Mnty Qonvarsnty jc Fjok
Ejok Qrlio \asairmf Krjup.
”””””””””. <294l. 'N I` Ojt Gaivnok Fj`a'8 Rjst-62s' Fjusnok Ittntudas iod Ispnritnjos no
Fjok Ejok. ]]\O [jrenok Ripar <=4;>94. Fjok Ejok, Mfnoi8 Mnty Qonvarsnty jc Fjok
Ejok Qrlio \asairmf Krjup.
Oitnjoig Luraiu jc ]titnstnms jc Mfnoi. fttp8//www.stits.kjv.mo/aokgnsf/stitnstnmigditi.
*Tfa Isnio Davagjp`aot Lioe racars tj Mfnoi ly tfa oi`a Rajpga„s \apulgnm jc Mfnoi.
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IDLN [jrenok Ripar 133 Gn
Rfnggnps, R., ^. [u, iod H. ^u. <299. Axpgjsnva Lafivnjur no tfa 9>>2s OI]DIY8 [fao DndAxularioma Asmigita Issat Siguas: Notaroitnjoig Amjoj`nm \avnaw 1<(9)8 <29”<<3.
]jutfwastaro Qonvarsnty jc Cnoioma iod Amjoj`nms. Mfnoi Fjusafjgd Cnoioma ]urvay.
fttp8//www.mfcsditi.jrk/.
[an, ^., R. T. Gi`, ^. F. Mfniok, iod L. ^. Gauok. <294. Tfa Mfioknok \aig Astita ]uppgy iod
Novast`aot Rittaros no Mfnoi8 Io Nostntutnjoig Rarspamtnva jo Iccjrdilga Fjusnok. NoRrjmaadnoks jc tfa 9;tf Notaroitnjoig ]y`pjsnu` jo Idvioma`aot jc Mjostrumtnjo
@ioika`aot iod \aig Astita, adntad ly H. [iok, X. Dnok, G. Xju, iod H. Xuj. Largno,Fandaglark8 ]prnokar.
[u, H., H. Kyjurej, iod ^. Daok. <29<. Aviguitnok Mjodntnjos no @ihjr Mfnoasa Fjusnok@ireats. \aknjoig ]mnaoma iod Qrlio Amjoj`nms 4<(=)8 1=9”14=.
^iok, ^., iod E. M. Giod. <226. Ika”Rarnjd”Mjfjrt Ioigysns jc \apaitad Mrjss-]amtnjo]urvays8 Cnxad jr \iodj` Accamts:. ]jmnjgjknmig @atfjds & \asairmf =3(=)8 <>;”=<3.
^iok, ^., [. H. Cu, iod E. M. Giod. <224. I @atfjdjgjknmig Mj`pirnsjo jc Ika Rarnjd Mjfjrt
@jdags8 Tfa Notrnosnm Astn`itjr iod Mjovaotnjoig Kaoarignzad Gnoair @jdags. ]jmnjgjknmig
@atfjdjgjky =4(9)8 ;1”992.
^iok, D. T., H. Xfiok, iod ]. Xfju. <29<. [fy Ira ]ivnok \itas ]j Fnkf no Mfnoi: No
Mipntignznok Mfnoi, adntad ly H. Cio iod \. @jrme. Mfnmikj8 Tfa Qonvarsnty jc MfnmikjRrass.
^auok. ]., iod \. Fjwas. <223. Tfa \jga jc tfa Fjusnok Rrjvndaot Cuod no Cnoiomnok Iccjrdilga Fjusnok Davagjp`aot no Mfnoi. Filntit Notaroitnjoig =2(<)8 =4=”=13.
^jsfnoj, O., @. Faglga, iod T. Inziwi. <291. Fjusnok Rjgnmnas cjr Isni8 I Tfajratnmig Ioigysnsly Qsa jc Da`iod iod ]uppgy @jdag. Isnio Davagjp`aot Lioe Nostntuta (IDLN) [jrenok
Ripar ]arnas 1<3. Tjeyj8 IDLN.
^jsfnoj, O., iod T. Tikfnzidaf-Fasiry. <294. Fj`atjwo Novast`aot Trust Cuods8 Io Ioigysns
jc Mradnt \nse. IDLN [jrenok Ripar ]arnas 121. Tjeyj8 IDLN.
^ju, H., F. [u, iod ]. ]. Fio. <299. Jrnkno iod Dnvarsnty: Tfa Mfnoasa Rrjparty Davagjpar no
tfa Oiohnok Iccjrdilga Fjusnok @ireat. Ripar prapirad cjr tfa 9;tf Rimncnm-\n` \aig Astita]jmnaty Ioouig Mjocaraoma. Kjgd Mjist, Iustrigni. 93”9> Hiouiry.
Xfiok, [., K. Fio, iod ]. [. [. Mfio. <294. Fjw ]trjok Ira tfa Gnoeikas latwaao \aigAstita iod Jtfar ]amtjrs no Mfnoi: Fjok Ejok Nostntuta cjr @joatiry \asairmf (FEN@\)
[jrenok Ripar 99/<294. Fjok Ejok, Mfnoi8 FEN@\.
Xfiok, V. Y. <222. Tfa \astrumturnok jc tfa Fjusnok Cnoioma ]ysta` no Qrlio Mfnoi. Mntnas 9;(1)8 ==>”=46.