Land leasing and local government behaviour in China: Evidence from Beijing

Zan Yang, Rongrong Ren, Hongyu Liu and Huan Zhang
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Zan Yang: Tsinghua University, China
Rongrong Ren: Tsinghua University, China
Hongyu Liu: Tsinghua University, China
Huan Zhang: Tsinghua University, China

Urban Studies, 2015, vol. 52, issue 5, 841-856

Abstract: Since 2004, two auction mechanisms – listing auctions and tender auctions – have played a dominant role in land lease arrangements for real estate development in Beijing. Listing auctions in land markets are similar to general English auctions, where bidders offer the highest price to win. However, in tender auctions, winners are determined by the bidding price and the bidder’s financial capability and reputation. Based on granted land parcels from 2006 to 2012 in Beijing, this paper attempts to examine the price differences between the two auctions and the role of land auction in urban development and price stabilisation. We find that land policy in Beijing, which aims to stabilise land prices and to provide low-price residences, has been integrated with urban development planning in terms of spatial and density pattern. Land leasing in Beijing is not only a land policy but also a part of the strategy framework of local development.

Keywords: Beijing; land lease; listing auction; local government behaviour; tender auction (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:52:y:2015:i:5:p:841-856

DOI: 10.1177/0042098014529342

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