Housing and land financialization under the state ownership of land in China

Chen, Jie ^[1] ; Wu, Fulong ^[2]
1. [1] Shanghai Jiao Tong University
  
  Shanghai Jiao Tong University
  
  China
2. [2] University College London
  
  University College London
  
  Reino Unido
Localización: Land use policy: The International Journal Covering All Aspects of Land Use, ISSN 0264-8377, ISSN-e 1873-5754, Nº. 112, 2022
Idioma: inglés
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Resumen
- By studying the case of China’s state land ownership regime, this paper examines the financialization of housing and land and illustrates how these processes are intertwined and reinforce each other. This paper reached three conclusions: first, housing financialization and land financialization cannot be separated in China; housing financialization boosts the demand for housing assets and land financialization speeds up the supply to meet the demand. Second, housing financialization and land financialization jointly expand the production of properties and sustain capital accumulation. Third, the financialization of land and housing evolve over time. We conclude that the separate and related processes of housing and land financialization in China reflect the unique characteristics of the state ownership of land in China.