IDEAS home Printed from https://ideas.repec.org/a/eee/lauspo/v95y2020ics0264837719313444.html
   My bibliography  Save this article

Real estate supports rapid development of China's urbanization

Author

Listed:
  • Cai, Zhaoyang
  • Liu, Qing
  • Cao, Shixiong

Abstract

Urbanization is an important engine of modernization and economic growth, and appears to be an inevitable trend in human socioeconomic development around the world. However, China’s unusually rapid urbanization rate has attracted increasing attention. Our research suggests that understanding the country’s real estate market is the key to understanding the country’s rapid urbanization. The booming real estate market represents a major source of funding for urban infrastructure construction, and has accelerated the migration of rural residents to cities. We describe how four typical Chinese cities supported urbanization by promoting the development of different aspects of a real estate market to illustrate real estate’s role in Chinese urbanization, thereby providing examples and cautions for urbanization both in China and in other parts of the developing world.

Suggested Citation

  • Cai, Zhaoyang & Liu, Qing & Cao, Shixiong, 2020. "Real estate supports rapid development of China's urbanization," Land Use Policy, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:lauspo:v:95:y:2020:i:c:s0264837719313444
    DOI: 10.1016/j.landusepol.2020.104582
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0264837719313444
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.landusepol.2020.104582?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yang, Yuanyuan & Liu, Yansui & Li, Yurui & Li, Jintao, 2018. "Measure of urban-rural transformation in Beijing-Tianjin-Hebei region in the new millennium: Population-land-industry perspective," Land Use Policy, Elsevier, vol. 79(C), pages 595-608.
    2. Gao, Jinlong & Chen, Wen & Liu, Yansui, 2018. "Spatial restructuring and the logic of industrial land redevelopment in urban China: II. A case study of the redevelopment of a local state-owned enterprise in Nanjing," Land Use Policy, Elsevier, vol. 72(C), pages 372-380.
    3. Perry Burnett, 2016. "Overpopulation, Optimal City Size And The Efficiency Of Urban Sprawl," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 28(3), pages 143-161, November.
    4. Cai, Zhaoyang & Liu, Zhexi & Zuo, Siming & Cao, Shixiong, 2019. "Finding a Peaceful Road to Urbanization in China," Land Use Policy, Elsevier, vol. 83(C), pages 560-563.
    5. Daron Acemoglu & Asuman Ozdaglar & Alireza Tahbaz-Salehi, 2015. "Systemic Risk and Stability in Financial Networks," American Economic Review, American Economic Association, vol. 105(2), pages 564-608, February.
    6. Chen, Y. & He, M. & Rudkin, S., 2017. "Understanding Chinese provincial real estate investment: A Global VAR perspective," Economic Modelling, Elsevier, vol. 67(C), pages 248-260.
    7. Abdul Saboor & Shumaila Sadiq & Atta Ullah Khan & Gulnaz Hameed, 2017. "Dynamic Reflections of Crimes, Quasi Democracy and Misery Index in Pakistan," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(1), pages 31-45, August.
    8. Cheng, Mingyang & Yansui Liu, & Zhou, Yang, 2019. "Measuring the symbiotic development of rural housing and industry: A case study of Fuping County in the Taihang Mountains in China," Land Use Policy, Elsevier, vol. 82(C), pages 307-316.
    9. Shenjing He, 2012. "Two Waves of Gentrification and Emerging Rights Issues in Guangzhou, China," Environment and Planning A, , vol. 44(12), pages 2817-2833, December.
    10. Zhen Yang & Jun Lei & Jian-Gang Li, 2019. "Identifying the Determinants of Urbanization in Prefecture-Level Cities in China: A Quantitative Analysis Based on Spatial Production Theory," Sustainability, MDPI, vol. 11(4), pages 1-18, February.
    11. Davis, E. Philip & Zhu, Haibin, 2011. "Bank lending and commercial property cycles: Some cross-country evidence," Journal of International Money and Finance, Elsevier, vol. 30(1), pages 1-21, February.
    12. Gao, Jinlong & Chen, Wen & Yuan, Feng, 2017. "Spatial restructuring and the logic of industrial land redevelopment in urban China: I. Theoretical considerations," Land Use Policy, Elsevier, vol. 68(C), pages 604-613.
    13. Liu, Yansui, 2018. "Introduction to land use and rural sustainability in China," Land Use Policy, Elsevier, vol. 74(C), pages 1-4.
    14. Koetter, Michael & Poghosyan, Tigran, 2010. "Real estate prices and bank stability," Journal of Banking & Finance, Elsevier, vol. 34(6), pages 1129-1138, June.
    15. Wang, Jing & Lin, Yifan & Glendinning, Anthony & Xu, Yueqing, 2018. "Land-use changes and land policies evolution in China’s urbanization processes," Land Use Policy, Elsevier, vol. 75(C), pages 375-387.
    16. Ozarisoy, Bertug, 2018. "An investigation of urban process and mass housing estates development through topographical formations in urban peripheries: A case study of Famagusta, Cyprus," Land Use Policy, Elsevier, vol. 79(C), pages 481-495.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jiahong Guo & Zhongqi Yu & Zihao Ma & Duanyang Xu & Shixiong Cao, 2022. "What factors have driven urbanization in China?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 6508-6526, May.
    2. Sisman, S. & Aydinoglu, A.C., 2022. "Improving performance of mass real estate valuation through application of the dataset optimization and Spatially Constrained Multivariate Clustering Analysis," Land Use Policy, Elsevier, vol. 119(C).
    3. Weiwei Li & Lisheng Weng & Kaixu Zhao & Sidong Zhao & Ping Zhang, 2021. "Research on the Evaluation of Real Estate Inventory Management in China," Land, MDPI, vol. 10(12), pages 1-29, November.
    4. Veli Yilanci & Recep Ulucak & Yaoqi Zhang & Valeria Andreoni, 2023. "The role of affluence, urbanization, and human capital for sustainable forest management in China: Robust findings from a new method of Fourier cointegration," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(2), pages 812-824, April.
    5. Bo Li & Rita Yi Man Li & Thitinant Wareewanich, 2021. "Factors Influencing Large Real Estate Companies’ Competitiveness: A Sustainable Development Perspective," Land, MDPI, vol. 10(11), pages 1-20, November.
    6. Shixian Luo & Jing Xie & Katsunori Furuya, 2021. "“We Need such a Space”: Residents’ Motives for Visiting Urban Green Spaces during the COVID-19 Pandemic," Sustainability, MDPI, vol. 13(12), pages 1-18, June.
    7. Ebenezer Fiifi Emire Atta Mills & Siegfried Anyomi & Mavis Agyapomah Baafi & Prasad Siba Borah, 2022. "A dynamic SBM‐DEA and portfolio formation test approach to the operating efficiency‐stock returns nexus," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 3095-3106, October.
    8. Thng Peck-Ern Casandra & Wei-Theng Lau, 2023. "Corporate Leverage Decisions in Malaysian Property Sector: Before and During Pandemic," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(12), pages 1719-1733, December.
    9. Jingtao Wang & Haibin Liu & Hao Liu & Hui Huang, 2021. "Spatiotemporal Evolution of Multiscale Urbanization Level in the Beijing-Tianjin-Hebei Region Using the Integration of DMSP/OLS and NPP/VIIRS Night Light Datasets," Sustainability, MDPI, vol. 13(4), pages 1-28, February.
    10. Ao, Yibin & Zhang, Yuting & Wang, Yan & Chen, Yunfeng & Yang, Linchuan, 2020. "Influences of rural built environment on travel mode choice of rural residents: The case of rural Sichuan," Journal of Transport Geography, Elsevier, vol. 85(C).
    11. Tianbao Zhou & Zhixin Liu & Yingying Xu, 2024. "Characterizing Public Debt Cycles: Don't Ignore the Impact of Financial Cycles," Papers 2404.17412, arXiv.org.
    12. Xiaodong Yang & Weilong Wang & Xufeng Su & Siyu Ren & Qiying Ran & Jianlong Wang & Jianhong Cao, 2023. "Analysis of the influence of land finance on haze pollution: An empirical study based on 269 prefecture‐level cities in China," Growth and Change, Wiley Blackwell, vol. 54(1), pages 101-134, March.
    13. Han, Yang & Zhang, Haotian & Zhao, Yong, 2021. "Structural evolution of real estate industry in China: 2002-2017," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 45-56.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zeng, Zhaozhao & Song, Bingjie & Zheng, Xiaodong & Li, Huan, 2019. "Changes of traffic network and urban transformation: A case study of Xi’an city, China," Land Use Policy, Elsevier, vol. 88(C).
    2. Shu, Hui & Xiong, Ping-ping, 2019. "Reallocation planning of urban industrial land for structure optimization and emission reduction: A practical analysis of urban agglomeration in China’s Yangtze River Delta," Land Use Policy, Elsevier, vol. 81(C), pages 604-623.
    3. Zhang, Ling & Zhang, Lei & Xu, Yan & Zhou, Peng & Yeh, Chung-Hsing, 2020. "Evaluating urban land use efficiency with interacting criteria: An empirical study of cities in Jiangsu China," Land Use Policy, Elsevier, vol. 90(C).
    4. Tian, Yingying & Zhou, Dingyang & Jiang, Guanghui, 2021. "A new quality management system of admittance indicators to improve industrial land use efficiency in the Beijing−Tianjin−Hebei region," Land Use Policy, Elsevier, vol. 107(C).
    5. Ye, Sijing & Song, Changqing & Shen, Shi & Gao, Peichao & Cheng, Changxiu & Cheng, Feng & Wan, Changjun & Zhu, Dehai, 2020. "Spatial pattern of arable land-use intensity in China," Land Use Policy, Elsevier, vol. 99(C).
    6. Xia, Min & Zhang, Yanyuan & Zhang, Zihong & Liu, Jingjie & Ou, Weixin & Zou, Wei, 2020. "Modeling agricultural land use change in a rapid urbanizing town: Linking the decisions of government, peasant households and enterprises," Land Use Policy, Elsevier, vol. 90(C).
    7. Yue, Wenze & Wang, Tianyu & Liu, Yong & Zhang, Qun & Ye, Xinyue, 2019. "Mismatch of morphological and functional polycentricity in Chinese cities: An evidence from land development and functional linkage," Land Use Policy, Elsevier, vol. 88(C).
    8. Cao, Kexin & Deng, Yu & Wang, Wenxue & Liu, Shenghe, 2023. "The spatial heterogeneity and dynamics of land redevelopment: Evidence from 287 Chinese cities," Land Use Policy, Elsevier, vol. 132(C).
    9. Jinlong Gao & Zhixuan Wu & Jianglong Chen & Wen Chen, 2020. "Beyond the bid‐rent: Two tales of land use transition in contemporary China," Growth and Change, Wiley Blackwell, vol. 51(3), pages 1336-1356, September.
    10. Wu, Changyan & Huang, Xianjin & Chen, Bowen, 2020. "Telecoupling mechanism of urban land expansion based on transportation accessibility: A case study of transitional Yangtze River economic Belt, China," Land Use Policy, Elsevier, vol. 96(C).
    11. Lu, Shasha & Zhou, Yi & Sun, Haisheng & Chen, Ni & Guan, Xingliang, 2021. "Examining the influencing factors of forest health, its implications on rural revitalization: A case study of five forest farms in Beijing," Land Use Policy, Elsevier, vol. 102(C).
    12. Yu, Junqing & Zhou, Kaile & Yang, Shanlin, 2019. "Land use efficiency and influencing factors of urban agglomerations in China," Land Use Policy, Elsevier, vol. 88(C).
    13. Zhang, Xianchun & Sun, Yi, 2019. "Investigating institutional integration in the contexts of Chinese city-regionalization: Evidence from Shenzhen–Dongguan–Huizhou," Land Use Policy, Elsevier, vol. 88(C).
    14. Lai, Yani & Tang, Bosin & Chen, Xiangsheng & Zheng, Xian, 2021. "Spatial determinants of land redevelopment in the urban renewal processes in Shenzhen, China," Land Use Policy, Elsevier, vol. 103(C).
    15. Guoxiang Li & Keqiang Wang & Hongmei Liu, 2021. "Construction land reduction, rural financial development, and industrial structure optimization," Growth and Change, Wiley Blackwell, vol. 52(3), pages 1783-1803, September.
    16. Bin Li & Kaihan Yang & Konstantin E. Axenov & Long Zhou & Huiming Liu, 2022. "Trade-Offs, Adaptation and Adaptive Governance of Urban Regeneration in Guangzhou, China (2009–2019)," Land, MDPI, vol. 12(1), pages 1-22, December.
    17. Wang, Cheng & Wang, Gang & Guo, Ziru & Dai, Lingjun & Liu, Hongyu & Li, Yufeng & Chen, Hao & Zhao, Yongxiang & Zhang, Yanan & Cheng, Hai, 2020. "Effects of land-use change on the distribution of the wintering red-crowned crane (Grus japonensis) in the coastal area of northern Jiangsu Province, China," Land Use Policy, Elsevier, vol. 90(C).
    18. Chen, Zhu & Zhang, Anlu & Zhou, Kehao & Huang, Lingxiang, 2021. "Can payment tools substitute for regulatory ones? Estimating the policy preference for agricultural land preservation, Tianjin, China," Land Use Policy, Elsevier, vol. 100(C).
    19. Leng Liu & Congjie Cao & Wei Song, 2023. "Bibliometric Analysis in the Field of Rural Revitalization: Current Status, Progress, and Prospects," IJERPH, MDPI, vol. 20(1), pages 1-18, January.
    20. Sun, Yifan & Ma, Anbing & Su, Haorui & Su, Shiliang & Chen, Fei & Wang, Wen & Weng, Min, 2020. "Does the establishment of development zones really improve industrial land use efficiency? Implications for China’s high-quality development policy," Land Use Policy, Elsevier, vol. 90(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lauspo:v:95:y:2020:i:c:s0264837719313444. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joice Jiang (email available below). General contact details of provider: https://www.journals.elsevier.com/land-use-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.