Chapter 2 evaluates the spatial impacts of China’s HSR on urban transformation with a focus on land value. The land value change in the process of HSR new town development is evaluated empirically using a spatial difference-in-differences model. The assessment is based on micro -level land transaction data with 629,741 records for the period 2007–15. The research finding shows that HSR plays a significant role in facilitating urban transformation in China. The development of HSR is associated with a 3–13 percent increase in land value, ceteris paribus, but the impacts are found to vary considerably by type of city, land and the specific location within a city. Overall, the study provides evidence and implications for policy makers to improve decision making on land policy reforms and future infrastructure development through an understanding of the effectiveness of HSR on land value change.
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