Feng, Yi;
Wu, Fulong;
Zhang, Fangzhu;
(2022)
Shanghai municipal investment corporation: Extending government power through financialization under state entrepreneurialism.
Environment and Planning C: Politics and Space
10.1177/23996544221114955.
(In press).
Preview |
Text
EPC-2022.pdf - Published Version Download (870kB) | Preview |
Abstract
Financialized urban governance means that local governments have been increasingly reliant on financial techniques and in some extreme cases, been captured by shareholders’ interests. However, financialized governance mutates with various characteristics of local governance. This paper unpacks financialized urban governance in China based on the operation of Shanghai Municipal Investment Corporation (SMI). The Shanghai municipal government uses SMI as an intermediary to finance urban development. Based on the latest corporatization of SMI, we illustrate an embryonic form of financialized governance in which the Shanghai municipal government relies on financial means especially shareholding to manage and support SMI. In doing so, the municipal government internalizes financial techniques to manage state assets, seek funding, and guide urban development projects. The power of the state is not undermined during the process of financialization. Instead, the Shanghai government extends its power to the financial market to achieve its goals.
| Type: | Article |
|---|---|
| Title: | Shanghai municipal investment corporation: Extending government power through financialization under state entrepreneurialism |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1177/23996544221114955 |
| Publisher version: | https://doi.org/10.1177%2F23996544221114955 |
| Language: | English |
| Additional information: | © 2022 by SAGE Publications. This article is distributed under the terms of the Creative Commons Attribution 4.0 License (https://creativecommons.org/licenses/by/4.0/). |
| Keywords: | financialization, urban governance, financial intermediary, China |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning UCL > Provost and Vice Provost Offices > UCL BEAMS UCL |
| URI: | https://discovery-pp.ucl.ac.uk/id/eprint/10151974 |
Archive Staff Only
 |
View Item |
