Development of new urban space in China in the 1990s: Foreign property investment in the emerging market economy

This thesis investigates the scope and impact of an unprecedented influx of foreign property development investment (FPI) in China in the 1990s. It argues that the FPI represented the confluence of an explosion of development for profit by foreign developers and a surging demand for space by foreign enterprises within a context of China's urban land use restructuring. The underlying coalition of forces attributed to this phenomenon are: (1) the emergence of land and property markets in China; (2) China's substantial foreign direct investment inflow; (3) urban economy and land use restructuring in Chinese cities.;As one important force of urban development in China in the 1990s, FPI accelerated the urban regeneration process in major coastal centers. These proliferation of highly visible commercial projects developed by FPI that were springing up on the old urban cores formerly occupied by low-value use, forming new CBDs, came to symbolize China's transformation from a enclosed command economy towards an open market economy.;The thesis also briefly discusses the chaotic development process, and the danger of over-building in the immature market. The first requires policy makers to focus serious attention on building a fair and open development market system. The second requires fostering development of market mechanisms; and reassessment of the heavy reliance on foreign investment for urban regeneration.