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香港房地产业自二战后随制造业的繁荣而繁荣。20世纪80年代以来,香港制造业急速衰退,房地产业逐渐成为香港第一支柱产业,香港经济变成房地产业主导的经济。香港经济对房地产业的高度依赖抑制了其制造业的发展,损害了其经济的可持续发展能力,最终也使房地产业本身受到了伤害。香港的经验表明,尚处于工业化和城市化过程中的中国大陆地区不宜把房地产业作为支柱产业。
Hong Kong’s real estate industry has thrived with the manufacturing boom after World War II. Since the 1980s, the manufacturing industry in Hong Kong has been rapidly declining. The real estate industry has gradually become Hong Kong’s first pillar industry. Hong Kong’s economy has become the real estate-led economy. The high dependence of Hong Kong’s economy on the real estate industry has hindered the development of its manufacturing industry, undermined the sustainable development of its economy and eventually harmed the real estate industry itself. Hong Kong’s experience shows that the mainland China, which is still in the process of industrialization and urbanization, should not regard real estate as a pillar industry.