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| PROPERTY-LED REDEVELOPMENT——The Pattern of China's Urban Redevelopment Under Market Transition |
| HE Shen-jing1, LIU Yu-ting2 |
1. School of City and Regional Planning, Cardiff University, Cardiff, CF10 3WA, UK;
2. School of Architecture, South China University of Technology, State Key Laboratory of Subtropical Building Science, Guangzhou 510641, China |
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Abstract Despite its less predominant place in urban policy, property-led redevelopment still plays a significant role in many western countries. China's urban redevelopment is quite different from those of the Western's on many aspacts such as mechanisms, characteristics, etc. This article firstly analyzes the practices of property-led redevelopment in western cities, and also introduces the relevant theories of growth machine and urban re, me which were developed to investigate the relationship between urban (re)development outcomes and urban governance. In China, along with the deepening of market-oriented reform, the urban real estate develops rapidly, and the property-oriented urban redevelopment is increasingly prevalent. Based on different systems and historical backgrounds, the causes, mechanisms and characteristics property redevelopment of the purpose of this paper is, referring to the practices and theories of urban redevelopment in Western cities, to Understand and analyze China's existing practical model of urban re-development and explore its dynamic mechanism, features and socio-economic consequences.
It explores the impetus of ongoing property-led redevelopment, and examines its characteristics. The impetus of property-led redevelopment in China can be boiled down to administrative decentralization, land and housing reform, and the tremendous demands of the property market. Pro-growth coalitions between local government and developers are formed. However, due to the particular background, the incentives and characteristics of property-led development differ from those of the West. Despite its role as capital provider, modulated by various rules and regulations, the private sector in China does not play such a leading role as Western theories suggest. In one word, the government still plays a dominant role in influencing the pace and direction of urban redevelopment. Market operations with government regulation become the new guideline to promote China's urban redevelopment. With the prevalence of property-led redevelopment, conflicts between the social benefits of urban neighbourhoods and the economic objectives of developers have been intensified. Government intervention and public participation could be the proper means to alleviate the negative influence of residential displacement and relocation caused by the property-led redevelopment.
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Received: 08 June 2007
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2008, Vol. 23 
