Handbook on Urban Development in China
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Handbook on Urban Development in China

Edited by Ray Yep, June Wang and Thomas Johnson

The trajectory and logic of urban development in post-Mao China have been shaped and defined by the contention between domestic and global capital, central and local state and social actors of different class status and endowment. This urban transformation process of historic proportion entails new rules for distribution and negotiation, novel perceptions of citizenship, as well as room for unprecedented spontaneity and creativity. Based on original research by leading experts, this book offers an updated and nuanced analysis of the new logic of urban governance and its implications.
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Chapter 3: Land-based finance: how revenue concern drives urbanization

Yuyang Liu

Abstract

In relevant academic works in China, the concept of ‘land-based finance’ includes various land-centred financing approaches and mortgage patterns derived from state-dominated processes in funding urban development. The impacts of local government authorities on urban development and planning are more decisive than those in other countries. Local prefectural municipalities take dual roles of both land use regulator and land user, which incorporated all the institutional settings and approaches of ‘land-based finance’. This chapter is divided into two parts. The first part rests on the institutional background review of ‘land-based finance’ in China. The author reviews the institutional reforms, restructurings and adjustments, which shaped the fundamental framework of land-centred urban development in local China. After that, the author moves to prefectural level, focusing on two of the most important local institutional settings in charge of manipulating ‘land-finance’. In the second part, a four-component framework of land-based finance has been developed to elaborate not only different stages and processes in ‘land-based finance’, but also their inter-connections and input-output analyses. The split stages and processes are to provide a detailed map of how land-based revenue generation drives urban development.

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