International Valuation Conference in China

Xian, China P.R. 17-20 October 2005

In cooperation with CIREA (China Institute of Real Estate Appraisers and Agents), HKIS (Hong Kong Institute of Surveyors) FIG arranged the Valuation Conference held in Xian, 17-20 October 2005. The conference was attended by more than 300 registered participants.

Xian – 6.6 million inhabitants and yet not even mentioned amongst the big Chinese cities – hosted the event and on the background of being the house of the Chinese emperors for more than 1,000 years it is hardly possible to find a more impressing town.

Temples, terracotta soldiers, museums, the greatest town wall on earth and tombs of the Emperors put into a transforming city filled with life and a chaotic traffic situation. Brand new Toyotas and VW (Chinese built) together with old bicycles without any lights make an impossible mix apparently without rules but with patience and friendliness it works. 200 new cars a day make the future smog situation look bad.

The conference set up was in Xian International Conference Centre and the FIG delegation was led by Vice President, Dr. Andreas Drees (Germany) with other representatives Mr. Stephen Yip (Chair of Commission 9), Prof. Kauko Viitanen (incoming Chair of Commission 9) and Mr. Henning Elmstrøm (Commission 9 and President of CLGE).

Stephen Yip deserves much credit for his active role in preparation as well as carrying out during the Conference. After welcome speeches and small gifts – clay models of the House of H. C. Andersen in Denmark - handed over by Henning Elmstrøm the keynote speakers underlined the enormous potential in the valuation business and the rapid growing numbers of investors all over the world.

During the sessions Prof. Kauko Viitanen talked about laser scanning as a tool in valuation, Anthony Banfield presented Valuing Intellectual Property and Intangible Assets, Bill Endsley from The Appraisal Institute compared the situation in different countries in a very interesting manner, Henning Elmstroem gave examples on European policy in handling Valuation information.

Last but not least the young German lady Carla Seidel gave a lecture titled “Transparency in the German real estate market - Results and problems, chances and new developments”. She works in Berlin and it is promising that the young generation is interested in the work in Commission 9.

In China all land is owned by the state and it is rented out for housing, industry or trade. The growth during the last decades – 9.4% in average in the last 20 years (China daily October 20, 2005) – makes it a very challenging job to cope with the demands for valuation.

On a technical tour we visited a valuation company founded in 2000 having now 25 employees and Mr. Gao as CEO. Soon a lively professional discussion revealed that a lot of common challenges and problems were faced in a Chinese way based on rather well-known principles.

On top on this early morning meetings led by Andreas Drees resulted in a draft for the future work in Commission 9 and in positive results for the future cooperation between CIREA and FIG. A report will be handed to the FIG Council to enhance the work and position of Commission 9 and suggestions for the coming FIG Working Weeks and Congress were made.

In the program was also a tour to the world-famous terracotta clay soldiers. The rating among the world’s top ten is only fair. Go there for yourself. It is incredible and makes you stand silent and wonder about the human costs to produce such a breathtaking tomb for one person. The People’s Republic of China is not to be understood from a distance.

Henning Elmstrøm

Pictures by Henning Elmstroem and Carla Seidel.

Click picture for bigger format.
After the Technical Tour in Xian.

Click picture for bigger format.
FIG representatives: Vice President Andreas Drees (left), Kauko Viitanen, Carla Seidel, Henning Elmstroem and Stephen Yip, Chair of Commission 9.

Click picture for bigger format.
Mr. Gao, CEO of SHAANXI JIANYE REAL ESTATE VALUATION LTD. welcoming Vice President Drees.

Click picture for bigger format.
Participants on visiting the City of Xian.

Click picture for bigger format.
Andreas Drees and Carla Seidel.

Click picture for bigger format.
From left to right Henning Elmstrøm, Stephen Yip and Andreas Drees.

Click picture for bigger format.
Carla Seidel on the podium

Click picture for bigger format.
Prof. Kauko Viitanen, Chair Elect of Commission 9.

Papers from the Conference:


©2019 FIG