Demystifying China’s Shantytown Renovation Program and Its Effect on Real Estate Price

Kerry Liu

Chinese Economy, 2019, vol. 52, issue 3, 249-262

Abstract: From August 2017, Chinese authorities have indicated that the shantytown renovation program would gradually be scrutinized under stricter conditions due to the fact that this policy has enhanced the rocketing real estate prices in Chinese third-tier cities. However, based on monthly data from May 2015—December 2017, this study finds that a higher amount of pledge supplementary lendings, which provide the major funding for the shantytown renovation program, can significantly decelerate the growth of real estate prices in the third-tier cities. This finding has important implications for Chinese decision makers and investors as well.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:mes:chinec:v:52:y:2019:i:3:p:249-262

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DOI: 10.1080/10971475.2018.1548141

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