Page 100 - JCAU-6-1

Journal of Chinese
Architecture and Urbanism Urban regeneration market mechanism research

the main driving force for the implementation of urban major types of renovation projects in Beijing, except for
regeneration projects. old buildings, the government has issued relevant policies
to provide corresponding financial support, which has also
5.2. Promoting value-added income and balance of caused huge pressure on the government’s finances.
benefits in urban regeneration
The balance of benefits is an important support for the 6. Conclusion
stable and sustainable development of urban regeneration Based on a brief review of market participation in urban
governance, and the appreciation of space is the premise regeneration in various countries, this study has explored the
of benefit distribution. Beijing is exploring the dual developmental process of Beijing’s urban regeneration, the
means of privatization of comprehensive property main challenges at the current stage, and analyzed the latest
rights and flexible use to promote the marketization of typical practical cases from the perspectives of governance
stock space, increase the added value of stock space, and structure and benefit distribution, and identified three
gradually establish a written system to improve the use typical governance structures, including welfare security
value and efficiency of stock space. The privatization of type, economic growth type, and comprehensive
property rights includes two aspects. First, it refers to development type. The study has also summarized the
the conversion of government property rights and public transformational experiences of the market participants
property rights of state-owned enterprise buildings and the profit mechanism. In addition, the study has
formed in the era of free land use before the 1980s into analyzed the value types, operational efficiency, and benefit
private property rights owned by residents, and value- distribution methods of different governance structures
added income is obtained through the sale of property of urban regeneration in Beijing. The study finds that a
rights. Second, it includes the flexible transfer of multi-coexisting pattern of “growth coalition” and “equity
commercial buildings to enterprises with more operating governance” has been formed in the urban regeneration
capabilities, improving the allocation efficiency and added of Beijing at the present stage. The governance model
value of spatial resources. For example, the system design and the process of reuse of stock space embody the dual
encourages enterprises to transform idle buildings in characteristics of welfarist policy support and neoliberal
old communities into operational service facilities, such market mechanism, which have enriched the latest
as elderly care and canteens, and improve operational exploration of Beijing’s urban regeneration in existing
efficiency by simplifying approval procedures. Overall, research. In addition, the experience of Beijing’s urban
the spatial transformation and value-added means in regeneration marketization path summarized in the
Beijing’s urban regeneration have been continuously study also provides a reference for the transformation and
improved, reflecting the dual characteristics of welfarist development of urban regeneration in other Chinese cities.
policy support and neoliberalism’s market mechanism.
Actually, the institutional construction and practical
However, there are still some deficiencies in the exploration of urban regeneration is a long-term process
standard of interest balance in Beijing’s current urban that needs to be continuously adapted to local conditions
regeneration. First, it is difficult to attract investment from and time. Since 2017, Beijing has attained certain
residents. In dilapidated housing renovation projects, the achievements and experiences in urban regeneration
price of public housing purchased by residents is still far practice exploration and system construction and
lower than that of surrounding commercial housing. At gradually established a market-oriented urban
the same time, tenants enjoy the improvement of the living regeneration mechanism with local characteristics. The
environment, but they do not bear the corresponding 34 urban regeneration cases selected in the study are
renovation costs. In addition, the varying management representative to a certain extent, but they cannot show
of different spatial types has resulted in differences in the full situation of Beijing’s urban regeneration practices,
residents’ benefits. For example, most of the single-story which leads to the fact that the classification of governance
courtyard houses in the old city and the simple buildings in structures in the study may not reflect all the situations
the old communities belong to public property houses, but of Beijing’s urban regeneration market participation.
the residents in the simple buildings can purchase house Fortunately, however, it is still in the initial stage of urban
property rights at a price lower than the market without regeneration practice and exploration. In the future,
leaving the original residential environment, but residents theoretical innovation and practical exploration need to
in the courtyard houses cannot enjoy this right, that is, the be constantly combined to implement reform, adjustment,
differentiated system design results in large differences optimization, and improvement to continue to explore
in residents’ “sense of gain.” Furthermore, the proportion the formation of a normalized and sustainable urban
of government investment is too high. Among the five regeneration market mechanism for Beijing and other

Volume 6 Issue 1 (2024) 12 https://doi.org/10.36922/jcau.0885