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Financing Urban Growth in China

A Case Study of Qujing, a Medium-Sized City in Yunnan Province
Thierry Theurillat
Translated by Tilly O'Neill
p. 57-68


Illustrated by a case study on the urban development of a medium-sized city in China, this article develops a theoretical framework to help understand the role the financial system plays in the urban development model based on land in China. Three fields of literature have been used in order to link the various mechanisms between land, urban infrastructure, property development, and financing channels in urban production. The case study illustrates the many interactions between local government and real estate businesses, both state and private, as well as local banks, in order to create urban infrastructure that responds to “communal and public” needs and real estate objectives of a “private and individual” nature. In doing so, it highlights the fundamental role of capital in urban production in China.

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Bibliographical reference

Thierry Theurillat, « Financing Urban Growth in China », China Perspectives, 2017/1 | 2017, 57-68.

Electronic reference

Thierry Theurillat, « Financing Urban Growth in China », China Perspectives [Online], 2017/1 | 2017, Online since 01 March 2018, connection on 20 April 2018. URL :

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About the author

Thierry Theurillat

Thierry Theurillat is an SNF post-doctoral researcher and an associate of Laboratoire Techniques, Territoires et Sociétés (LATTS) at Paris-East Marne-la-Vallée University.Université Paris-Est Marne-la-Vallée, 6-8 Avenue Blaise Pascal, 77455 Marne-la-Vallée (

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