Finance Capital Launches an Assault on Chinese Real Estate

Natacha Aveline-Dubach ()
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Natacha Aveline-Dubach: GC (UMR_8504) - Géographie-cités - UP1 - Université Paris 1 Panthéon-Sorbonne - UPD7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique

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Abstract: Over the past two decades, global market finance has taken root in China to seek property investment. This article examines the spatialities and anchorage methods of finance capital within Chinese national territory. It highlights the spatial and sectoral differences in the composition of property portfolios as a function of the return/risk coupling. These differences are exacerbated by a split in the geographical origin of the funds, which determines differentiated conditions of access to land and management of the investment time horizon of the assets portfolios. The penetration of finance capital into urban space tends to increase the fragmentation and functional specialisation of districts, a phenomenon fostered by entrepreneurial urban policies. As a result, urban projects are becoming standardised in terms of both design and program. They are increasingly governed by external references that favour the expansion of multinationals and transform lifestyles and consumer habits.

Keywords: property; real estate; financialisation; investment; private equity; REIT; securitisation; property development; urban development; China (search for similar items in EconPapers)
Date: 2013
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-02876000v1
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Published in China perspectives, 2013, Real Estate Speculation and its Social Consequences, 2013 (2), pp.29-39. ⟨10.4000/chinaperspectives.6157⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02876000

DOI: 10.4000/chinaperspectives.6157

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