Developing by borrowing? Inter-jurisdictional competition, land finance and local debt accumulation in China

By Fenghua Pan, Fen Zhang, Shengjun Zhu, Dariusz Wójcik. 2017

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Land financialisation and the financing of urban development in China (2019, background): “…2000s, after housing reform and rapid rural–urban migration driven by exportoriented industries, China started a new phase of land finance, extracting profits from land sales (Lin & Yi, 2011; Tao et al., 2010), which led to a large scale property boom (Wu, 2015a; Zhao, Zhan, Jiang, & Pan, 2017).”
Effects of land urbanization and land finance on carbon emissions: A panel data analysis for Chinese provinces (2017, background): “…and even contributes to the development of modern and tertiary industries; (2) accelerates urbanization and promotes the benefits of urban agglomeration; and (3) promotes urban infrastructure, transportation facilities, and other ―hard environments‖ (Pan et al., 2016; Zhang & Wu, 2016).”