ABSTRACT
This chapter discusses the adoption of a property-led urban strategy in China with an international perspective. The important role of real estate in shaping urban economic growth and development outcomes has been widely recognised. The chapter adopts the institutional approach developed by North to discuss the underlying factors that shape these development outcomes and impacts. Therefore, the rationale for adopting the property-led urban development in China is the primary focus on economic and physical development. Although sustainable development has been receiving increasing momentum across the globe, how sustainability is interpreted and strived for could vary from place to place. The chapter is underpinned by an extensive field research in four Chinese cities (Suzhou, Tianjin, Xi'an and Dongguan) and three regional centres (Beijing, Shanghai and Guangzhou), where over 80 intensive interviews were conducted with 7 groups of experts (including policy-makers, officials, planners, developers, investors, agents, scholars).
