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Exploring Critical Variables That Affect the Policy Risk Level of Industrial Heritage Projects in China

Author

Listed:
  • Ping Guo

    (School of Civil Engineering, Xi’an University of Architecture and Technology, Xi’an 710055, China)

  • Huimin Li

    (School of Civil Engineering, Xi’an University of Architecture and Technology, Xi’an 710055, China)

  • Guangmin Zhang

    (School of Civil Engineering, Xi’an University of Architecture and Technology, Xi’an 710055, China)

  • Yang Zhang

    (School of Management, Xi’an University of Architecture and Technology, Xi’an 710055, China)

Abstract

With the rapid development of the transformation and urbanization of Chinese social structures, more and more industrial heritage renewal projects are emerging. However, there are significant policy risks associated with Chinese industrial heritage renewal projects. Through a literature review, a total of 20 policy risk factors were determined, and a total of 10 industrial heritage renewal project managers in six regions nationwide conducted a pilot study. A questionnaire survey was conducted to collect 398 evaluations of these 20 risk factors from relevant professionals. Secondly, through confirmatory factor analysis, a six-part policy risk assessment model was established. The results indicated that the critical variables that affect the policy risk level were: (1) industry maturity, (2) tax policy, (3) financial freedom, (4) the rule of law, (5) local market size, and (6) local market experience. Moreover, there are significant opportunities and policy risks in Chinese industrial heritage renewal projects, and appropriate strategies can capture these opportunities and mitigate risks. As there are few pieces of research on the policy risks of industrial heritage renewal projects in China, this study has a certain reference significance for the policy risk management of industrial heritage renewal projects in China.

Suggested Citation

  • Ping Guo & Huimin Li & Guangmin Zhang & Yang Zhang, 2019. "Exploring Critical Variables That Affect the Policy Risk Level of Industrial Heritage Projects in China," Sustainability, MDPI, vol. 11(23), pages 1-18, December.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:23:p:6848-:d:293144
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    References listed on IDEAS

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    Cited by:

    1. Juan Claver & Amabel García-Domínguez & Miguel A. Sebastián, 2020. "Multicriteria Decision Tool for Sustainable Reuse of Industrial Heritage into Its Urban and Social Environment. Case Studies," Sustainability, MDPI, vol. 12(18), pages 1-25, September.
    2. Jiazhen Zhang & Jeremy Cenci & Vincent Becue & Sesil Koutra & Christos S. Ioakimidis, 2020. "Recent Evolution of Research on Industrial Heritage in Western Europe and China Based on Bibliometric Analysis," Sustainability, MDPI, vol. 12(13), pages 1-15, July.
    3. Carlos J. Pardo Abad, 2020. "Valuation of Industrial Heritage in Terms of Sustainability: Some Cases of Tourist Reference in Spain," Sustainability, MDPI, vol. 12(21), pages 1-23, November.

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