This paper is a comprehensive introduction to China’s real estate market. After briefly reviewing the reforms and macro political and economic environment in China, the paper gives a general overview of the market, and then goes on to discuss the benefits, opportunities, potential problems and risks. After joining the WTO, China will continue the transition to a free and competitive market. Investors, especially international investors, may soon discover exciting investment opportunities in China’s real estate market. For example, the emerging secondary market in real estate financial products and real estate non-performing loans may provide investors lucrative business opportunities. There will be increasing opportunities for investors to benefit from China’s vigorous reforms and rapid expansion of the real estate market. Investors may not choose to invest in China now, but should keep an eye on China’s growing real estate market because China is where the growth will be!