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The Political Economy of the Privatisation of the Land Market in Shanghai

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  • Ling Hin Li

    (Department of Real Estate and Construction, Knowles Building, The University of Hong Kong, Pokfulam Road, Hong Kong, Ihli@hkucc.hku.hk)

Abstract

This paper examines a land market in which the authority in China has a monopolistic power in the granting of the use rights of land to developers/investors for real estate development purposes. By granting land in private treaty mode rather than open market competition to the developers/investors, the Chinese authority is actually distorting the land prices achieved in the emerging market which will subsequently lead to a distortion of normal land price behaviour. Despite the fact that the authority might have been underpricing land in Shanghai, they continue to sell land through the same private treaty mechanism. One possible explanation for this is the deeply rooted ideology of the concept of' cost as value', while another is the possible political complications involved in the property rights of various invisible interests in land.

Suggested Citation

  • Ling Hin Li, 1997. "The Political Economy of the Privatisation of the Land Market in Shanghai," Urban Studies, Urban Studies Journal Limited, vol. 34(2), pages 321-335, February.
    • Handle: RePEc:sae:urbstu:v:34:y:1997:i:2:p:321-335
    DOI: 10.1080/0042098976195
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    References listed on IDEAS

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    1. G. Donald Jud, 1980. "The Effects of Zoning on Single-Family Residential Property Values: Charlotte, North Carolina," Land Economics, University of Wisconsin Press, vol. 56(2), pages 142-154.
    2. Tolley, G.S., 1991. "Urban Housing Reform in China," World Bank - Discussion Papers 123, World Bank.
    3. Renaud, B., 1991. "Housing reform in socialist economies," World Bank - Discussion Papers 125, World Bank.
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    Cited by:

    1. Shunfeng Song & George S.‐F. Chu & Rongqing Cao, 1999. "Real Estate Tax In Urban China," Contemporary Economic Policy, Western Economic Association International, vol. 17(4), pages 540-551, October.
    2. Natacha Aveline-Dubach, 2017. "Centrality of Land in the Capital Accumulation Regime in China [La centralité du foncier dans le régime d’accumulation du capital en Chine]," Post-Print halshs-01556558, HAL.
    3. Junjie Hong, 2007. "Location Determinants and Patterns of Foreign Logistics Services in Shanghai, China," The Service Industries Journal, Taylor & Francis Journals, vol. 27(4), pages 339-354, June.

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