This book explores the roles of land and housing in the China economic development. The real estate sector in China has two opposite effects on the urban economy. On one hand, it provides funds for urban development and on the other hand, its excessive expansion would depress the urban growth. To balance the two effects, the governments try to adjust their regulation policies dynamically. These policies to a great extent determine the rise and fall of urban economy. This book is divided in to four parts. The first part elaborates the relationship between the real estate sector and urban economy and explains the mechanism of the former’s impact on the later. The second part investigates the interaction of the real estate sector and the industrial sector and the consequences. The third part discusses the real estate tax reform and the affordable housing system. At the last part, I discuss the prospect of China real estate economy through the case of Evergrand’s debt crisis. The real estate sector is an essential part of China’s model of economic development, so this book will interest those readers who want to know the Chinese miracle of growth.