‘The ongoing transformation of China is cultural and spatial as much as economic and political This remarkable book brings all these dimensions together and integrates them into a coherent theoretical framework supported by empirical observation A must-read for everybody interested in the scholarly analysis of China, as well as cutting edge contributions in cultural theory.’ Manuel Castells,Wallis Annenberg Chair of Communication Technology and Society, University of Southern California ‘Scott Lash, Michael Keith and colleagues have an entirely original understanding of China which makes this book rare, relevant and new.’ Rem Koolhaas, Founding Partner, Office of Metropolitan Architecture/AMO ‘Is there a China model? Is the economic development in China another version of neoliberalism or a socialist market economy? The authors of this book develop their argument that China is constructing its own version of capitalism by combining broad historical observations and sophisticated theoretical analysis.This is an inspiring intervention in the ongoing debate on China’s past, present and future.’ Wang Hui, author of China’s New Order, The Politics of Imagining Asia and The End of the Revolution This page intentionally left blank CHINA CONSTRUCTING CAPITALISM The GDP of China has been growing at over ten per cent annually since 1978, but this has only come to widespread notice in the past decade The received wisdom about China has been largely of two types, both of which – more or less – understand China in the context of neoliberalism The more business- or business studies-orientated literature seems to argue that if China does not adapt the rule of clear and distinct property and contract law – in short, of Western institutions – its economy will stall The second set of voices is more clearly from the left, arguing that the Chinese economy, and city, is neoliberal For them, China does not diverge widely from the Anglo-American model that, from 2008, has brought the world economy to its knees China Constructing Capitalism takes issue with these analyses.The authors argue that it is not Western neoliberalism that is constructing the Chinese economy, but instead that China is constructing capitalism anew.The two central theses of their argument are: • • Economic life – neoliberal economic life is individualised and disembedded, while the China model is relational and situated Urban change – China has created a form of ‘local state capitalism’, which stands in contrast to neoliberal versions of the city This book analyses China as a ‘risk culture’, examining, among other factors, Chinese firms and political ties, property development, migrant urbanisms and share-trading rooms It scrutinises the ever-present shadow of the risk-averse (yet uncertainty-creating) state China Constructing Capitalism is a must-read for social scientists, policy-makers and investors Michael Keith is Director of the Centre on Migration, Policy and Society and holds a personal chair in the Department of Anthropology at the University of Oxford Scott Lash is Professor of Sociology and Director of the Centre for Cultural Studies at Goldsmiths College, University of London Jakob Arnoldi is Professor at Aarhus University, School of Business and Social Sciences, Department of Business Administration He is also affiliated with the Sino-Danish Center for Education and Research Tyler Rooker is Lecturer in Contemporary Chinese Studies at the University of Nottingham International library of sociology Founded by Karl Mannheim Editor: John Urry, Lancaster University Recent publications in this series include: Risk and Technological Culture Towards a sociology of virulence Joost Van Loon The Culture of Exception Sociology facing the camp Bülent Diken and Carsten Bagge Laustsen Reconnecting Culture, Technology and Nature Mike Michael Visual Worlds John Hall, Blake Stimson and Lisa Tamiris Becker Advertising Myths The strange half lives of images and commodities Anne M Cronin Time, Innovation and Mobilities Travel in technological cultures Peter Frank Peters Adorno on Popular Culture Robert R.Witkin Consuming the Caribbean From arkwarks to zombies Mimi Sheller Between Sex and Power Family in the world, 1900–2000 Goran Therborn States of Knowledge The co-production of social science and social order Sheila Jasanoff After Method Mess in social science research John Law Brands Logos of the global economy Celia Lury Complexity and Social Movements Multitudes acting at the edge of chaos Ian Welsh and Graeme Chesters Qualitative Complexity Ecology, cognitive processes and the re-emergence of structures in post-humanist social theory Chris Jenks and John Smith Theories of the Information Society, 3rd Edition Frank Webster Crime and Punishment in Contemporary Culture Claire Grant Mediating Nature Nils Lindahl Elliot Haunting the Knowledge Economy Jane Kenway, Elizabeth Bullen, Johannah Fahey and Simon Robb Global Nomads Techno and new age as transnational countercultures in Ibiza and Goa Anthony D’Andrea The Cinematic Tourist Explorations in globalization, culture and resistance Rodanthi Tzanelli Non-Representational Theory Space, politics, affect Nigel Thrift Urban Fears and Global Terrors Citizenship, multicultures and belongings after 7/7 Victor J Seidler Sociology through the Projector Bülent Diken and Carsten Bagge Laustsen Multicultural Horizons Diversity and the limits of the civil nation Anne-Marie Fortier Social Transationalism Steffen Mau Towards Relational Sociology Nick Crossley Mobile Lives Anthony Elliott and John Urry Stillness in a Mobile World David Bissell and Gillian Fuller Unintended Outcomes of Social Movements The 1989 Chinese student movement Fang Deng Revolt, Revolution, Critique The paradox of society Bulent Diken Travel Connections Tourism, technology and togetherness in a mobile world Jennie Germann Molz Mobility, Space and Culture Peter Merriman Transforming Images Screens, affect, futures Rebecca Coleman Sound Moves IPod culture and urban experience Michael Bull Staging Mobilities Ole B Jensen Jean Baudrillard Fatal theories David B Clarke, Marcus A Doel, William Merrin and Richard G Smith China Constructing Capitalism Economic life and urban change Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker Aeromobilities Theory and method Saulo Cwerner, Sven Kesselring and John Urry This page intentionally left blank CHINA CONSTRUCTING CAPITALISM Economic life and urban change Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker First published 2014 by Routledge Park Square, Milton Park,Abingdon, Oxon OX14 4RN and by Routledge 711 Third Avenue, New York, NY 10017 Routledge is an imprint of the Taylor & Francis Group, an informa business © 2014 Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker The right of Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker to be identified as authors of this work has been asserted by them in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988 All rights reserved No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data Keith, Michael, 1960China constructing capitalism : economic life and urban change / Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker First Edition pages cm (International library of sociology) Includes bibliographical references and index ISBN 978-0-415-49705-3 (hardback) ISBN 978-0-415-49706-0 (pbk.) ISBN 978-0-203-87739-5 (ebook) China Economic policy-21st century Urban policy China I.Title HC427.95.K457 2013 330.951 dc23 2013007421 ISBN: 978-0-415-49705-3 (hbk) ISBN: 978-0-415-49706-0 (pbk) ISBN: 978-0-203-87739-5 (ebk) Typeset in Bembo by FiSH Books Ltd, Enfield CONTENTS List of illustrations Acknowledgements and dedication Introduction: China versus neoliberalism x xii 1 Chinese thought, cultural theory 32 Connections, networks, culture: the institutions of Chinese capitalism 54 Relational property and urban temporality: China’s urbanism in the city of experts 72 Local state capitalism? From urban hierarchy to city markets 112 Chinese firms and political ties 140 Property development: markets and districts 151 Trading ethnographies: stuck in China 180 Knowing but not doing: the financial sector in China and institutional reform 205 Risk cultures: production of Shanghai space 223 10 Shenzhen dwelling: arrival and migrant urbanisms 247 Conclusions: China and the neoclassical subject 275 Notes Bibliography Index 290 296 325 316 Bibliography Shanghai Securities Exchange (2009) Shanghai Securities Exchange Statistical Yearbook (2009 Edition) Shanghai: Shanghai Securities Exchange Available at: www.sse.com.cn/ sseportal/ps/zhs/yjcb/yjycb_tjnj.shtml (accessed August 2012) Shen, Hsiu-Hua (2005) ‘ “The first Taiwanese wives” and “the Chinese mistresses”: the international division of labour in familial and intimate relations across the Taiwan strait’ Global Networks 4: 419–37 Shenzhen Securities Exchange (2008a) ‘Market statistics monthly report, June 2008’ Available at: www.szse.cn/main/images/2008/07/02/658165533294.html (accessed August 2008) Shenzhen Securities Exchange (2008b) ‘Market statistics monthly report, June 2008’ Available at: www.szse.cn/main/images/2008/07/02/668192946817.html (accessed August 2008) Shenzhen Securities Exchange (2008c) Shenzhen Securities Exchange StatisticalYearbook 2008 Shenzhen: Shenzhen Securities Exchange Available at: www.szse.cn/main/ marketdata/wbw/marketstat/ (accessed August 2012) Shenzhen Securities Exchange (2009) Shenzhen Securities Exchange Statistical Yearbook 2008 Shenzhen: Shenzhen Securities Exchange Available at: www.szse.cn/main/market data/wbw/marketstat/ (accessed August 2012) Shenzhen Labor Service (2008) ‘Current situation analysis of Shenzhen labor service workers coming from outside’ [深圳外来劳务工现状分析] Available at: http://blog.szu.edu.cn/ Attach/90E4303F 9E1D 4D32 808D (accessed August 2011) Shi, Hanbing 时寒冰 (2006) ‘State six articles face the danger of state eight articles’ 国六条面临国八条危险 Shanghai Securities News, 15 June Shue, E (1988) The Reach of the State Stanford, CA: Stanford University Press Simone, A (2004) For the City Yet to Come Durham, NC: Duke University Press Silverman, D (1993) Interpreting Qualitative Data London: Sage Siu, H (2007) ‘Grounding displacement: uncivil urban spaces in post-reform south China’ American Ethnologist 34(2)May 2007, 329–50 Skeldon, R (2008) ‘Immigration futures’ Canadian Diversity 3: 12–17 Slovic, P (1999) ‘Trust, emotion, sex, politics, and science: surveying the risk assessment’ Risk Analysis 191: 689–700 Smart, A (2000) ‘The emergence of local capitalisms in China: overseas Chinese investment and patterns of development’ Si-ming Li and Wang-shing Tang (eds) Hong Kong: Chinese University Press, 65–95 Smart, A and Lin, G (2007) ‘Local capitalisms, local citizenship and translocality: rescaling from below in the pearl river delta region, China’ International Journal of Urban and Regional Research 312: 280–302 Smith, A (2002) The Theory of Moral Sentiments Cambridge: Cambridge University Press Smith, A (2008) The Wealth of Nations Radford,VA:Wilder Publications So, A Y (1988) ‘Shenzhen special economic zone: China’s struggle for independent development’ Canadian Journal of Development Studies, 9(2): 313–23 Solinger, D (1995) ‘China’s urban transients in the transition from socialism and the collapse of the communist “urban public goods regime”’ Comparative Politics 27(2): 127–46 Solinger, D (1999) Contesting Citizenship in Urban China: Peasant Migrations, the State, and the Logic of the Market Berkeley, CA: University of California Press Solinger, D (2002) ‘Labour market reform and the plight of the laid-off proletariat’ China Quarterly 170: 304–26 Song,Y.Y Z and Ding, C (2008) ‘Let’s not throw the baby out with the bath water: the role of urban villages in housing rural migrants in China’ Urban Studies 45(2): 313–30 Sorel, G (1999) Reflections on Violence, trans.T E Hulme London: Allen and Unwin Bibliography 317 Stark, D (2009) ‘Recombinant property in east European capitalism’ American Journal of Sociology 101(4): 993–1027 State-Owned Assets Supervision and Administration Commission (2012) ‘List of central enterprises’ (央企名录) Available at: www.sasac.gov.cn/n1180/n1226/n2425/index html (accessed 20 June 2012) Strang, D and Meyer, J.W (1993) ‘Institutional conditions for diffusion’ Theory and Society 224: 487–511 Strathern, M (1992) The Gender of the Gift Berkeley, CA: University of California Press Stieglitz, J (2000) Economics of the Public Sector New York: Norton Sudan Divestment Task Force (2007) ‘PetroChina, CNPC, and Sudan: Perpetuating Genocide’ Available at: http://home.comcast.net/~berkshire_hathaway/reports/ PetroChina_CNPC_Sudan.pdf (accessed May 2012) Sun,Y and Ke Wen (2007) ‘Uncertainties, imitative behaviours and foreign R&D location: explaining the over-concentration of foreign R&D in Beijing and Shanghai within China’ Asia Pacific Business Review 133: 405–24 Sun Guangjing and Liu Xiaoyan (2008) ‘Foreigners’ employment environment must be improved and employment management strengthened – a survey of the employment situation of foreigners in Weihai’ Shandong Laodong Baozhang, 12 Sustainability Radar (2006) China Special Issue February Sun,W (2009) Maid in China London: Routledge Sundaram, R (2005) Pirate Modernity Delhi’s Media Urbanism London and Delhi: Routledge Sutherland, D., Ning, L and Beatson, S (2011) ‘Productivity performance in Chinese Business groups: the positive and negative impacts of business group affiliation’ Journal of Chinese Economic and Business Studies, 9(2): 163–80 Svetlova, E and Arnoldi, J (2011) ‘Does performativity matter?’ In: IX Conference of the International Network for Economic Methodology Helsinki, Finland SWECO (2009) ‘SWECO creates environmentally friendly city in China’ Available at: www.swecogroup.com/en/Sweco-group/Press/News/20091/Category1/Swecocreates-environmentally-friendly-city-in-China/ (accessed 23 October 2009) Tanabe, M (2008) Fashion Industry and Organisational Culture in Shanghai: The Case of a Taiwanese Multinational Enterprise Oxford: University of Oxford Tang, Bo-sin and Sing-cheong Liu (2005) ‘Property developers and speculative development in China’ In: Chengri Ding and Yan Song (eds) Emerging Land and Housing Markets in China Cambridge: Lincoln Institute of Land Policy Tang, Bo-sin and Sing-cheong Liu (2002) ‘Property developers and speculative development in China’ Paper presented at Lincoln Institute of Land Policy Conference, Cambridge, March 2002 Tang, Bo-sin, Siu-wai Wong and Sing-Cheong Liu (2006) ‘Property agents, housing markets and housing services in transitional urban China’ Housing Studies 21(6): 799–823 Tang,W (2002) ‘Political and social trends in the post-deng urban China: crisis or stability?’ China Quarterly 168: 890–909 Tang, W and Parish, W (1996) ‘Social reaction to reform in urban China’ Problems of PostCommunism, 43(6): 35–47 Tang, Wing-Shing (1994) ‘Urban land development under socialism: China between 1949–1977’ International Journal of Urban and Regional Research 18: 395–415 Tang, Wing-Shing (1998) ‘Inquiry into urban land system reforms in Shenzhen’ In: Development in Asia: Restrospects and Prospects.Y M.Yeung (ed.) Hong Kong: Hong Kong Institute of Asia-Pacific Studies,The Chinese University of Hong Kong, 307–40 Tang, Wing-Shing (2008a) ‘China’ In: Urban Science – Report on a Workshop Series, A Haila (ed.) Strasbourg: European Science Foundation, 30–1 318 Bibliography Tang,Wing-Shing (2008b) ‘Hong Kong under Chinese sovereignty: social development and a land redevelopment regime’ Eurasian Geography and Economics 49: 341–61 Tang,Wing-Shing (2009) ‘The spatiality of urban land development in China in Chinese’ Journal of Urban and Regional Planning 2: 136–44 Tang, Wing-Shing and Chung, H (2002) ‘Urban-rural transition in China: illegal land use and construction’ Asia Pacific Viewpoint 431: 43–62 Tang,W and Parish,W L (1996) ‘Social reaction to reform in urban China’ Problems of PostCommunism 436: 35–47 Taylor, C (1971) ‘Interpretation and the sciences of man’ Review of Metaphysics 25: 3–51 Thévenot, L (2001a) ‘Conventions of co-ordination and the framing of uncertainty’ In: Intersubjectivity in Economics, Edward Fulbrook (ed.) Florence: Routledge, 181–97 Thévenot, L (2000) ‘Pragmatic regimes governing the engagement with the world’ In: The Practice Turn in Contemporary Theory, T R Schatzki, K Knorr Cetina and E von Savigny (eds) New York: Routledge, 64–83 Thévenot, L (2001b) ‘Organized Complexity’ European Journal of Social Theory 44: 405–25 Thrift, N (2005) Knowing Capitalism London and New York: Sage Tian, C and Hong, Y (2007) ‘Urban land reform and the development of land markets: evidence from Hangzhou’.The 12th Asian Real Estate Society AsRES Annual Conference and the 2007 AREUEA International Conference, July 9–12, Macau Available at: www.asres2007.umac.mo/papers/182%20-%20PAPER.pdf (accessed 20 May 2012) Tian, L (2008) ‘The Chengzhongcun land market in China: boon or bane? – a perspective on property rights’ International Journal of Urban and Regional Research 32: 282–304 Tomba, L (2010) ‘Gating urban spaces in China: inclusion, exclusion and government’ In: Gated Communities, S Bagaeen and O Uduku (eds) London: Earthscan, 27–8 Tomba, L (2011) ‘Remaking China’s working class: Gongren and Nongmingong’ In: China’s Changing Workplace, Peter Sheldon, Sunghoon Kim, Yiqiong Li and Malcolm Warner (eds) London: Routledge, 144–59 Townsend R (1993) The Medieval Village Economy Princeton, NJ: Princeton University Press Tribe, K (1995) Strategies of Economic Order German Economic Discourse, 1750–1950 Cambridge: Cambridge University Press Tsai, K (2004) Back-Alley Banking: Private Entrepeneurs in China Ithaca, NY: Cornell University Press Tseng, Y.-F (2009) ‘Emerging career maps in new times: migration patterns of skilled Taiwanese to China’ Paper presented at ‘New Times? Economic Crisis, Geo-Political Transformation and the Emergent Migration Order’, Centre on Migration, Policy and Society COMPAS annual conference, Oxford, 21–22 September 2009 Tylor, E (2010) Primitive Culture Cambridge: Cambridge University Press Uehara,Y (2006) Casting Village Within City In: Sarai Reader 2006:Turbulence 485–96 Unger, J and Chan,A (1999) ‘Inheritors of the boom: private enterprise and the role of local government in a rural south China township’ The China Journal 42: 44–74 Urry, J (2002) Global Complexity Cambridge: Polity Van Horn, R and Mirowski, P (2009) ‘The rise of the Chicago School of Economics and the birth of neoliberalism’ In: The Road from Mont Pèlerin: The Making of the Neoliberal Thought Collective, P Mirowski and D Plehwe (eds) Cambridge, MA: Harvard University Press, 139–180 Vandermeersch, L (1989) ‘Preface to Granet’, La Pensée Chinoise, M Granet (ed.) Paris: Albin Michel Venables,A (2010) ‘Productivity in cities: self selection and sorting’ Discussion Paper Series University of Oxford Department of Economics Virilio, P (2009) The Virilio Reader Der Derian, J (ed.) Oxford: Blackwell Bibliography 319 Wakeman, F (1993a) ‘The civil society and public sphere debate: western reflections on Chinese political culture’ Modern China 192: 108–38 Wakeman, F (1993b) ‘Editor’s Foreword’ Modern China 192: 107 Walder,A (1995) ‘Local governments as industrial firms: an organizational analysis of China’s transitional economy’ The American Journal of Sociology 101(2): 263–301 Walder, A (2010) ‘From control to ownership: China’s managerial revolution’ Management and Organization Review 71: 19–38 Walder, A G (1993) ‘Corporate organization and local government property rights in China’ In: Changing Political Economies,Vedat Milor (ed.) Boulder, CO: Lynne Rienner Publishers, 53–66 Walder, A (1986) Communist Neo-Traditionalism: Work and Authority in Chinese Industry Berkeley, CA: University of California Press Walder, A (1989) ‘Factory and manager in an era of reform’ China Quarterly 118(6): 242–64 Walter, C (2011) ‘Stock markets and corporate reform: a pandora’s box of unintended consequences’ In: Going Private in China, J Oi (ed.) Stanford, CA:Walter H Shorenstein APARC Centre Books, 203–39 Wang, Fei-Ling (1998) ‘Floaters, moonlighters, and the underemployed: a national labor market with Chinese characteristics’ The Journal of Contemporary China 197: 459–76 Wang, G (2000) ‘Cultivating Friendship through Bowling in Shenzhen’ In: The Consumer Revolution in Urban China, D Davis (ed.) Berkeley, CA: University of California Press, 250–67 Wang, H (1997) ‘Contemporary Chinese thought and the question of modernity’ Social Text, 55 Wang, H (2008) 现代中国思想的兴起。Xiandai zhongguo sixiang de xingqi, The Rise of Modern Chinese Thought, Beijing: Sanlian Shudian Wang, H (2009) The End of the Revolution London:Verso Wang, H (2011) The Politics of Imagining Asia Cambridge, MA: Harvard University Press Wang, H (ed.) (2007) Contemporary Chinese Returnees Beijing: Zhongguo Fazhan Chubanshe Wang, J and Lau, S (2008) ‘Forming foreign enclaves in Shanghai: state action in globalization’ Journal of Housing and the Built Environment 232: 103–18 Wang, J (2001) ‘Culture as leisure culture as capital’ Positions 91: 69–104 Wang, J., Guthrie, D and Zhixing Xiao (2012) ‘The rise of SASAC: asset management, ownership concentration, and firm performance in China's capital markets’ Management and Organization Review 8(2): 253–81 Wang, K (2007) ‘Social capital within hierarchical relations in China’ In: Business Networks and Strategic Alliances in China, S Clegg, K.Wang and M Berrell (eds) Cheltenham: Edwin Elgar, 209–29 Wang, Lu (2008) ‘Only three days of trading remain for southern air JPT1’, Shanghai Securities Journal 11 June.Available at: www.cnstock.com/paper_new/html/2008-06/11/ content_61940195.htm (accessed July 2008) Wang, Mark Yaolin and Xiaochen Meng (2004) ‘Global-local initiatives in FDI: the experience of Shenzhen, China’ Asia Pacific Viewpoint 452: 181–96 Wang, X (2003) ‘A manifesto for cultural studies’ In: One China, Many Paths, Chaohua Wang (ed.) New York:Verso, 274–91 Wang,Ya Ping and Murie, A (1999) ‘Commercial housing development in urban China’ Urban Studies 369: 1475–94 Wang,Ya Ping and Murie, A (2000) ‘Social and spatial implications of housing reform in China’ International Journal of Urban and Regional Research 242: 397–417 320 Bibliography Wang,Yi (2010) ‘The mutual embrace of Yangpu, Shanghai and us’ Yangpu Times, January 8: 4-5 Wank, D (1999) Commodifying Communism: Business,Trust, and Politics in a Chinese City New York: Cambridge University Press Wank, D (2001) Commodifying Communism: Business, Trust and Politics in a Chinese City Cambridge: Cambridge University Press Wank, D (1996) ‘The institutional process of market clientalism: Guanxi and private business in a south China city’ China Quarterly 147: 820–38 Wasserstrom, J (2009) Global Shanghai, 1850–2010 New York: Routledge Watson, J (2000) ‘China’s big mac attack’ Foreign Affairs 793: 120–34 Weber, Elke U and K Hsee, C (1998a) ‘Cross-cultural differences in risk perception, but cross-cultural similarities in attitudes towards perceived risk’ Management Science 44(9): 1205–17 Weber, Elke U and K Hsee, C (1998b) ‘What folklore tells us about risk and risk taking: cross-cultural comparisons of American, German, and Chinese proverbs’ Organizational Behaviour and Human Decision Making 752: 170–86 Weber, Elke U and Hsee, C (2000) ‘Culture and individual judgment and decision making’ Applied Psychology: An International Review 491: 32–61 Weber, M (1976) Roscher and Knies New York: Free Press Weber, M (2012) Collected Methodological Writings, H Bruun and S.Whimster (eds) London: Routledge Weber, M (1958) The Religion of India New York:The Free Press Weber, M (1964) The Religion of China New York:The Free Press Weber, M (1980) Wirtschaft und Gesellschaft.Tübingen: J.C.B Mohr Weber, M (1988) Gesammelte Aufsätze zur Religionssoziologie I.Tübingen: J.C.B Mohr Weber, M (1991) Max Weber Gesamtausgabe Studienausgabe: Die Wirtschaftsethik der Weltreligionen Konfuzianismus und Taoismus: Schriften 1915–1920: Abt I/19.Tübingen: MohrSiebeck Weber, M (2001) The Protestant Ethic and the Spirit of Capitalism London: Routledge Wei Ran and Lin Yingying 蔚然 林颖颖 (2004) ‘Shanghai: property brokers at over 100,000, 70% without certification’ 上海：房产经纪人高达10万，七成无证 Wenhui Daily 文汇报, September Available at: http://edu.sina.com.cn/l/2004-09-01/82553 html (accessed 12 May 2012) Weng Li (2006) ‘Resident immigrants living peacefully and working happily is an important goal of the harmonious city – enlightenment from Yiwu city’s public security work’ Gong’an xuekan – Zhejiang Gong’an Gaodeng Zhuanke Xuexiao xuebao, 53: 42–4 Westphal, J D and Fredrickson, J.W (2001) ‘Who directs strategic change? Director experience, the selection of new CEOs, and change in corporate strategy’ Strategic Management Journal, 22(12): 1113–37 White, H C (1981) ‘Where markets come from?’ The American Journal of Sociology 873: 517–47 White, H C (1988) ‘Varieties of markets’ In: Social structures: A Network Approach, B Wellman and S D Berkowitz (eds) New York: Cambridge University Press, 226–60 White, H C (1992) Identity and Control Princeton, NJ: Princeton University Press White, H C (2002) Markets from Networks Princeton, NJ: Princeton University Press White, H C (2004) Markets from Networks Princeton, NJ: Princeton University Press White, S (2000) ‘Competition, capabilities, and the make, buy, or ally decisions of Chinese state-owned firms’ Academy of Management Journal 433: 324–41 White, S (2009) ‘“Revolutionary liberalism”? The philosophy and politics of ownership in the post-war Liberal party’ British Politics, 4(2): 164–87 Bibliography 321 Whitehead, A N (2011) Religion in the Making Cambridge: Cambridge University Press Whitley, R (1994) Business Systems in East Asia London: Sage Whitley, R (1999) Divergent Capitalism Oxford: Oxford University Press Whyte, M and Parish, W (1984) Urban Life in Contemporary China Chicago, IL: University of Chicago Press Williamson, O E (1983) Markets and Hierachies:Analysis and Antitrust Implications New York: Free Press Willis, K and Yeoh, B (2000) ‘Gender and transnational household strategies: Singaporean migration to China’ Regional Studies 343: 253–64 Willis, K and Yeoh, B (2002) ‘Gendering transnational communities: a comparison of Singaporean and British migrants in China’ Geoforum 33: 553–65 Wishnick, E (2005) ‘Migration and economic security: Chinese labour migrants in the Russian far east’ In: Crossing National Borders: Human Migration Issues in Northeast Asia, Tsuneo Akaha and Anna Vassilieva (eds) Tokyo: United Nations University Press, 68–92 Witt, M (2010) ‘China: what variety of capitalism?’ INSEAD Faculty & Research Working Paper No 2010/88/EPS Available at: www.insead.edu/facultyresearch/research/ doc.cfm?did=46188 (accessed 20 July 2012) Wittfogel, K (1967) Oriental Despotism New Haven, CN:Yale University Wittgenstein, L (1958) Philosophical Investigations Oxford: Blackwell Womack, B (1991) ‘Review essay: transfigured community: neo-traditionalism and work unit socialism in China’ China Quarterly 126: 313–32 Wong, P P.W (1991) ‘Central-local relations in an era of fiscal decline: the paradox of fiscal decentralization in post-Mao China’ The China Quarterly 128: 691–715 Wong, S H.W (2010) ‘Political connections and firm performance: the case of Hong Kong’ Journal of East Asian Studies 102: 275–313 Wong, S and Yong Yang (2009) ‘From scorned to loved? the political economy of the development of the stock market in China’ Global Economic Review 384: 409–29 Woodbridge, R (2004) The Next World War: Tribes, Cities, Nations and Ecological Decline Toronto: University of Toronto Press Wright, E O (2010) Envisioning Real Utopias London:Verso Wu, F (2002a) ‘Real estate development and the transformation of urban space in China’s transitional economy with special reference to Shanghai’ In: The New Chinese City: Globalization and Market Reforms, Logan, J (ed.) Oxford: Blackwell Wu, F (2002b) ‘China’s changing urban governance in the transition towards a more market oriented economy’ Urban Studies 39(7): 1071–93 Wu, F (2010) ‘How neoliberal is China’s reform? The origins of change during transition’ Eurasian Geography and Economics 515: 619–31 Wu, F (2005) ‘Rediscovering the “gate” under market transition: form work-unit compounds to commodity housing enclaves’ Housing Studies 202: 235–54 Wu, F and Webber, K (2004) ‘The rise of “foreign gated communities” in Beijing: between economic globalization and local institutions’ Cities 213: 203–13 Wu, F and Yeh, A G O (2007) Urban Development in Post Reform China: State, Market and Space London: Routledge Wu,Yanrui (1999) China’s Consumer Revolution Cheltenham: Edward Elgar Xiang Biao (2000) A Village Beyond Borders:The Life History of Beijing’s Zhejiangcun Beijing: Sanlian Press Xiang Biao (2005) Transcending Boundaries Zhejiangcun: The Story of a Migrant Village in Beijing Leiden: Brill Xiang Biao (2008) ‘A ritual economy of “talent”: Chinese and overseas Chinese Pro- 322 Bibliography fessionals’ Centre on Migration, Policy and Society COMPAS Working Paper no 2, 2008, Oxford Xie, Lei (2009) Environmental Activism in China London: Routledge Xie Qingshu, Parsa, A.R and Redding, B (2002) ‘The emergence of the urban land market in China: evolution, structure, constraints and perspectives’ Urban Studies 398: 1375–98 Xin, K R and Pearce, J L (1996) ‘Guanxi: Connections as substitutes for formal institutional support’ Academy of Management Journal 396: 1641–58 Xinhua Net 新华网 (n.d.) ‘The reform of China land system’ 中国土地制度改革 Party Knowledge 党的知识 Available at: http://cpc.people.com.cn/GB/64156/64157/ 4512167.html (accessed 20 May 2012) Xu, Dean and Shenkar, O (2002) ‘Institutional distance and the multinational enterprise’ Academy of Management Review 274: 608–18 Xu, Jiang,Yeh,A and Wu, F (2009) ‘Land commodification: new land development and politics since the late 1990s’ International Journal of Urban and Regional Research 334: 890–913 Xu Jie and Wang Quanchun (2007) ‘The current situation of house rental by foreigners in Beijing and suggestions for countermeasures to perfect the laws and regulations and strengthen management’ Beijing Renmin Jingcha Xueyuan xuebao, 48–50 Yan,Yunxiang (2000) ‘Of hamburger and social space: consuming McDonald’s in Beijing’, In: The Consumer Revolution in Urban China, Deborah Davis (ed.) Berkeley, CA: University of California Press, 201–25 Yang, M (1994) Gifts, favors, and banquets: the art of social relationships in China Ithaca, NY: Cornell University Press Yang, X (1993) ‘Household registration, economic reform and migration’ The International Migration Review 274: 796–818 Yangcheng Wanbao 羊城晚报 (2001) ‘Bo Xilai shocks: what does a mayor manage? Manage a city’ 薄熙来一语惊人：市长经营什么？经营城市 16 May 2001 Available at: http://news.sina.com.cn/c/254225.html (accessed May 2012) Yangpu District Gazette Editorial Committee (上海市杨浦区志编纂委员会) (1995) Yangpu District Gazette (杨浦区志) Shanghai: Shanghai Academy of Social Sciences Press (上海社会科学院出版社) Yangpu District Statisical Bureau (2008–2010, 2007–2009) ‘Statistical Bulletin of Economic and Social Development Yangpu District, City of Shanghai’ Available at: www.shyp gov.cn (accessed 13 May 2012) Yaqing, Q (2011) ‘Rule, rules, and relations: towards a synthetic approach to governance’ Chinese Journal of International Politics 42: 117–45 Yasheng,W (2008) The Writing on the Wall London: Abacus Yeh, A (2000) ‘Foreign investment and urban development in China’ In: China’s Regions, Polity and Economy A Study of Spatial Transformation I the post-Reform era, Li, S and Wing, T (eds) Hong Kong:The Chinese University of Hong Kong Yeh Anthony and Wu, F (1996) ‘The new land development process and urban development in Chinese cities’ International Journal of Urban and Regional Research 202: 330–53 Yeh, Wen-Hsin (2007) Shanghai Splendor: Economic Sentiments and the Making of Modern China, 1843–1949 Berkeley, CA: University of California Press Yuan,Victor and Xin Wong (1999) ‘Migrant construction teams in Beijing’ In: Internal and International Migration, Hein Mallee and Frank Pieke (eds) Richmond, Surrey: Curzon Press, 103-18 Yue, S (2004) ‘Laowai lai Shanghai zhao “ganjue” Foreigners are coming to Shanghai in search of “feelings”’ Huaren shikan 12–13 Zaheer, S (1995) ‘Overcoming the liability of foreigness’ Academy of Management Journal 382: 341–63 Bibliography 323 Zeng, J and Kellee Tsai (2011) ‘The local politics of restructuring state-owned enterprises in China’ In: Going Private in China, J Oi (ed.) Stanford, CA:Walter H Shorenstein AsiaPacific Research Centre Books, 39–69 Zhai, Guofang and Takeshi Suzuki (2009) ‘Risk perception in northeast Asia’ Environmental monitoring and assessment 1571–4: 151–67 Zhang, Li (2001) Strangers in the City: Reconfigurations of Space, Power, and Social Networks within National Bureau of Statistics Population Stanford, CA: Stanford University Press Zhang, Li (2008) ‘Ethnic congregation in a globalizating city: the case of Guangzhou, China’ Cities 256: 383–95 Zhang, Li (2008) ‘Private homes, distinct lifestyles: performing a new middle class’ In: Privatizing China, Li Zhang and Aihwa Ong (eds) Ithaca, NY: Cornell University Press, 23–40 Zhang, Li (2010) In Search of Paradise Ithaca: Cornell University Press Zhang,T (2000) ‘Land market forces and government’s role in sprawl’ Cities 172: 123–35 Zhang, L (1992) The Tao and the Logos Durham, NC: Duke University Press Zhang, Li and Aihwa Ong (eds) (2008) Privatizing China: Socialism from Afar Ithaca, NY: Cornell University Press Zhang, T (2002) ‘Urban development and a socialist pro-growth coalition in Shanghai’ Urban Affairs Review 37: 475–99 Zhang, Z (2006) ‘17 Years of China’s stock markets [Zhongguo gushi 17 nian]’, Value Magazine, September 2006 Zhao, D (2001) The Power of Tiananmen: State-Society Relations and the 1989 Beijing Student Movement Chicago, IL: University of Chicago Press Zhao, J (2012) ‘Revealed! Salary threshold for living comfortably in big cities’ Shanghai Dialy, 23 October, A4 Zhao Xiaohui and Tao Junjie (2008) ‘The hyping of the “doomsday theory” for southern air warrant appears again, Guotai Jun’an restricts buying in Nanhang quanzheng zaixian “morilun”, Guotai junan xianzhi mairu’, Xinhua Net, June 2008, Available at: http://ticket.cnfol.com/080605/165,1610,4249975,00.shtml (accessed July 2008) Zheng, Siqi Zheng, Fenjie Long, C Cindy Fan and Yizhen Gu (2009) ‘Urban villages in China: a survey of migrant settlements in Beijing’ Eurasian Geography and Economics 50(4): 425–46 Zheng, Tiantian (2007) ‘From peasant women to bar hostesses: an ethnography of China’s karaoke sex industry’ In: Working in China, Ching Kwan Lee (ed.) London: Routledge, 124–144 Zhou Liquan (周立权) (2008) ‘“Big brother role model 777” sentences to years imprisonment’ (‘带头大哥777’被判3年有期徒刑) China Securities Journal, 24 May Zhou, R (2006) ‘ “Urban villages” reminders of uneven growth’ China Daily Available at: www.chinadaily.com.cn/opinion/2006-01/14/content_536996.htm (accessed 15 March 2011) Zhou, Xueguang, Qiang Li,Wei Zhao and He Cai (2003) ‘Embeddedness and contractual relationships in China's transitional economy’ American Sociological Review 681: 75–102 Zhu, J (2002) ‘Urban development under ambiguous property rights – a case of China’s transition economy’ International Journal of Urban and Regional Research 26(1): 41–57 Zhu, J (2000) ‘Urban physical development in transition to market’ Urban Affairs Review 362: 178–96 Zhu, J (2004) ‘From land use right to land development right: institutional change in China’s urban development’ Urban Studies 417: 1249–67 Zhu, J (1999) ‘Local growth coalition: the context and implications of Chinas gradualist urban land reforms’ International Journal of Urban and Regional Research 233: 534–48 324 Bibliography Zhuang, H (2007) ‘Management of “three illegal” foreigners tests the government’s capacity’ Renmin gong’an 5: 28–9 Zweig, D., Changgui Chen and Rosen, S (2004) ‘Globalization and transnational human capital: overseas and returnee scholars to China’ China Quarterly 179: 735–57 INDEX abstraction 42, 217–18 actor-network theory 8–9, 45, 213 affectual 45 aging population 137–8 Arrighi, Giovanni 9–10 Bailian Group 168 Beck, Ulrich 93, 225, 229 Beijing 95, 96, 161, 231, 254 Beijing Consensus 16 Benjamin,Walter 287, 288 bio-politics 8, 283–4 Black-Scholes model 213, 214, 218 Bo, Xilai 121–2, 155–6, 287 Boist, Max 62–3, 65–6 brokerage 169, 171–3 Bureau of State Land Administration 158 business groups 22; government control 58, 58–9; guanxi and uncertainty reduction 63–4; political ties, benefit analysis 145–50, 148; political ties, value of 141–2, 168–9; state involvement 184 Callon, Michael 108 capitalism see also local state capitalism; network capitalism; Chinese developments 109–11, 110 Castells, Manuel 272 central government: patronage 144–5; political ties, value to business 144, 145–50, 148 chao (stir-fry) 181, 195 chaogu 182–3, 192, 194 Chen, Angie 167–8 Chen, Liangyu 155–6, 171 chengzhongcun (villages in the city): administrative structure 261–2, 273; collective land ownership 270, 272; flexible urban form 271, 274; migrant accommodation 248–9; migration, impact of 250–1; shared property rights Child, John 62–3, 65–6 China: Chinese thought, development of 47–52; contemporary imagery 138; GDP forecast 1; language system 35–6; population statistics 254, 255 China Banking Regulatory Commission 209 China Central Television building 95, 96 China Foreign Exchange Trade System (CFETS) 209 China Merchants Bank incident 200, 200–2 ‘China model’ 2–3, 4, 44–5 China Securities Regulatory Commission (CSRC) 186, 189–91 Chinese economy: capitalism, versions of 109–10, 110; derivatives, applicability of 206–7, 214, 216–17, 220–2; dominant traits 55–6, 276; experimental strategies in development 61–2, 276–7; foreign exchange, development of 208–9, 209; institutional efficiency 60–1, 207–8; privatisation through government control 57–9, 142–3 326 Index Chinese Securities Regulatory Committee 59 Chongqing Model 8; development criteria 122–3; land exchange market 123–4; migration encouraged 123; successes and criticisms 124–5 civic society 44 civilisation state 27–8, 47, 250 Coase, Ronald 84, 89, 284–5 codification 65, 158 commensuration 93–4 conduct, importance of 38 Confucianism: ‘China model’, influence on 3; dynasties, rule of 49; elements of Dao 52; embedded activities 11; ethics of 37, 40; relationality 36; rites and music 46, 47; situatedness 24 consumption 20–1 Convention School 218–20 cosmology 40–2 Cui, Zhiyuan 84–5, 123, 290n dafei 181, 189, 190, 204 danwei: decline of 116, 159–60; organised living 7, 75, 231; security regime 225; study of 18–19 Dao (Daoism): ‘China model’, influence on 3; elements of 51–2; emblem 33; given order 34, 42–3; potential action 45–6, 241; relationality 36; situatedness 24, 37; yin and yang 33 da-xiao fei 189–91, 190, 204 Decision on Deepening of the Urban Housing System Reform 159, 160 Deng, Xiaoping 191 derivatives: Chinese foreign exchange 209, 209; over-the-counter (OTC) 205; pricing models, Chinese applicability 206–7, 208, 214, 216–17, 220–2; pricing models, function of 213–15 dingzi hu (nail households) 164, 176, 291n Durkheim, Emile: emblems 32–3; myth to cosmology 40; property 108; religious life 46 dyads 37 dynasties, rule of 49 economic actor 2, 10–11 economic geography 112–13 economic life 279 economic performance: housing supply 104; state control, impact of 59–61 efficacy: Chinese emblems 32–5, 43; conduct 38 embeddedness thesis 14 emblems, Chinese: classification 36; efficacy of 32–4, 43; numbers 42 emerging market: applicability of term 55–6, 60; development options 85–6; institutional voids 60 empiricism 11, 282–3 entrepreneurs: alliance with local government 15; institutional connections, reliance on 65–6; local state capitalism 5; ‘sitting on land’ strategy 106–7 equilibrium 285–6 experts: social networks 120–1; urban potential 74–5, 81, 88–9 externalities: Coasian logic challenged 82, 84; development options 85–6; interpretation of 3–4, 89; urban change 6–7, 26, 82, 273 financial institutions: agents, operations analysis 209–10; global integration 208–9, 209; global integration of practices 215–16; pricing models, function of 213–15; state control, source of uncertainty 210–12; trading strategies, adaption of 217–18; valuation & negotiation, conceptual framework 218–20 floating population 100, 250, 255–7 foreign direct investment 79, 122–3, 143, 208, 253 foreign exchange: Chinese markets, development of 208–9, 209; pricing models, applicability of 206–7 forwards 208 Foucault, Michel 8, 9, 11, 283, 284, 287–8 gift economy 11, 224–5 government, local see local state government Granet, Marcel: emblems, efficacy of 32, 34–5; emblems as classifiers 36, 41; myth to cosmology 40; order of civilisation 43; space and time 38 Guangdong 20, 194, 252, 256 Guangzhou 100–1, 102, 103 guanxi : business confidence and deals 62–4, 66–7, 140–1; facilitation of urban policy 155–6; features of 63; reciprocal commitment 68; Shanghai developers’ use of 168–9, 171, 173; state/private connections 5, 25, 115, 141, 245 Index 327 gugai 180, 186, 188–92, 203 Haila, Anna 82–3 Hong Kong: corporate loopholes 163–4; family/work priorities 259; foreign exchange derivatives 209; model for land reform 79; property state 78–9 housing see also danwei; xiaoqu; ‘commodity’ housing 160, 270, 291n; danwei, policy led decline 116, 159–60; ‘economical’ housing 160–1; longtang 229–30; law and policy measures 160–1; local government investment 5–6; risk regimes 229–33, 245; Tulou, social housing 100–1, 102, 103; urban reforms 159–61, 231–2, 268–9, 270; xiaoqu, growth in 22, 161–2 Hsing,You-Tien 83–4, 143–4, 165, 167 Huang, Qifan 122–3 Huang,Yasheng 16 hukou: migrant status 254, 257; study of 19–20; urban citizenship 7, 116; welfare issues 234–5, 245 Hume, David 11 hutong 231 Hutton,Will 1, 34, 44 immanence 92–4 informality 22, 250, 271 Institutional Commodification 66 Institutional theory 69–70 institutional voids 60 institutions: cultural influence 69–70; economic efficiency, role in 60–1; entrepreneurial connections 65–6, 207–8; Institutional theory 69–70; organisational practices, formalisation of 215–16 interest rates 199 International Monetary Fund investors: individual 181–3, 184, 192–6, 193–4, 198, 198–200, 203, 204; legal person 185–6, 189, 191; personal investments 226; state own enterprises 185, 189–90, 191 Jing’an District 151–4, 164, 169–71, 173 Jin Mao Tower 95, 97, 97 Jullien, Francois: Daoist ethos 36, 37; emblems, efficacy of 32, 33, 34; propensity of things 37, 45, 92–3, 241; transformation (sagacity) 38 Kant, Immanuel 11, 39, 290n Keister, Lisa A 62, 64 Knight, Frank 91, 229, 244 Koolhaas, Rem 94 labour market 20, 227, 260–1 Land Administration Law 158, 159 land reform: experimental strategies 77–8; land banking organisations 156, 159; land use plan 104; law and policy measures 158–9; ownership and use rights, separation of 157–8; speculation prevention 80, 164; urbanisation of the local state 83 land revenues 137 land stir-frying 106 Lee, Ching Kwan 259 Legalism 48, 50–1 Li,Tian 272 Liu, Kaiming 252–3 local corporation thesis 59, 60 local government investment vehicles (LGIV) 125, 127 local state capitalism: experimentation strategies 119–21; financial flaws 136–8; guanxi relations and urban policy 155–6, 168–9, 171, 173; introduction to 26–8; positive externalities 6–7; private entrepreneurs 5; process leading to 115–16; ‘property-led’ urban development 156–7, 179, 277–8; property rights 6, 284; relational markets 116–18; Special Economic Zones (SEZs) 7; uncertainty countered by growth 139; urbanisation local state government: alliance with entrepreneurs 15, 59; construction improprieties 151–2; debt load 136–7; development approval, control of 164–5, 166–7, 177; experimental strategies in development 61–2, 76–7, 104–5, 118–19; guanxi relations, importance of 141, 148–50; guanxi relations in Shanghai 168–9, 171, 173; land markets, involvement in 82, 105–6, 156, 234; local corporatism 142–4, 155–6; network capitalism 65–6, 71; property sales as funding 5–6; relationalist markets, growth in 115–16; speed of urban change 99, 126–7 London Docklands Development Corporation (LDDC) 119 328 Index longtang 22930 Lyotard, Jean-Franỗois 38 Mackenzie, Donald 213–15 marriage 236, 245, 259 Marx, Karl 9, 12, 244, 279, 281, 283 Mauss, Marcel 11, 33 Meade, James 123, 290n Mencius 37–8, 39–40, 49 Menger, Carl 278–9, 280 MF Insurance 170, 171, 173 migration: city growth 116; hukou status 254, 257; migrant origins 256; native place, importance of 258; population statistics unreliable 254–6, 255; state incentives 123; studies of 20; terminology of 254; urbanism, influence on 250–3, 253, 257; women workers, exploitation of 259–60 Mill, J.S 280–1 Minhang Real (Group) Company 174–7, 178 Ministry of Land and Resources regulations 156, 159 mobility 13, 19, 239, 277 modernity 10–11 Mohism 48, 51 morality 39–40 Nee,Victor 59–60 neoclassical economics 278–81, 284 neoliberalism and China 16–18, 275–6 neoliberal model 2, 3–4 neo-localism 59 network capitalism 65–6, 68–71, 88–9 network theory 14–15, 70 New Century Enterprise Company 105 New Institutional Theory 120–1, 215–16 non-tradeable share reform (gugai) 186, 188–91, 203 office, principle of 48, 50–1 O’Neill, Jim 55 Organisation for Economic Co-operation Development (OECD) Oriental Despotism 47 Parsons,Talcott 32, 285 path dependency 62, 81, 107–8 Pearl River Delta 80, 94, 250 performative intervention 8–9 performativity 213–14 PetroChina 190, 195, 202–3, 293n planners 101–2, 104 planning, pace of change 91–2 political economy 8–10, 283–4, 285 political ties: benefit analysis 145–50, 148; value of 141–2, 144, 168–9 privatisation 22, 64, 143, 162, 174, 186 productive friction 88–9, 109 propensity of things 37, 38, 45 property development (Shanghai study) 163–4; brokerage 171–3; bureaucracy, approval and delays 164–5, 167; development process 166–7; district government, functions of 155; geographic/economic statistics 153, 153; management responsibilities 176; military interests 167–8; Minhang Real (Group) Company 174–7; property, changing ownership 153–4, 154; research methodology 154; targeting selective market 170–1; urban administration 156–7;Yangpu Shechi Company 163–4, 165, 168–9 property market 81, 83 property rights: ambiguous 86–7; Coasian logic 89–90; commodification of 82, 157, 162; complex governance 6, 25–6, 185–6; dimensions of 76; soft budget constraints 84–5; state licensing 78–9; state ownership, private use 123–4; urbanism, influence on 73 Pun, Ngai 259–60 Qualified Foreign Institutional Investor (QFII) 209, 292n rationalism 2, 282–3 real estate: experts and urban potential 74–5, 81, 88–9; fiscal controls 72; local government investment 5–6; pillar industries 291n; possession and power 83–4, 105–6; ‘sitting on land’ strategy 106–7; state control, impact of 82; state sponsored development 159–61; top 10 companies 132; urban identity and place branding 131, 133–5 red-capped enterprise 79 Redding, Gordon 16–17 relationality: foundations of 36; starting point 45; urban change, potential of 92–3 relational markets: economic exchange 28, 45, 273; governance 117–18; nature of 116–17; order and stability 33–4, 43 Index 329 ren 38, 49, 50 resource dependence theory 144 restructuring, studies of 22–3 risk: economic and personal 12–14; speed of urban change 91 risk culture: Chinese approach 241–2, 246;Western assumptions 240–2 risk regime: family orientated (filiality) 228, 244–5; gendered 238–40, 242–3, 245; housing 229–33, 245; incorrect-hukou, no security 234–5, 243, 245; independent living 226–7, 243; social and cultural 225–6; state control 228–9, 245; trading and retail 235–6; trading companies 224–5; venture capital 236–8 rites 3, 44, 48–9 sages, role of 33–4, 36, 37, 51 Schmitt, Carl 284, 287 Shanghai see also property development (Shanghai study); China Merchants Bank warrant 200, 200–1; construction improprieties 151–2; housing development 231–2; iconic urbanism 95, 97, 97, 98; industrial importance 223–4; network relations 104, 105–6; ‘One City, Nine Towns’ project 104–5, 128, 129, 131; population estimates 98–9, 254; real estate convention 133; stock market investors 183; stock market trading 184, 185, 187–8, 195, 204; trading company risks 224–5; trading rooms 192–4, 193–4, 197–8; urban change, state expectations 99, 126–7 Shanghai, risk biographies: family orientated 225–6; gendered 238–40; housing issues 229–33; incorrecthukou, no security 234–5; independent living 226–7; negative risk event 228–9; trading and retail 235–6; trading company 224–5; venture capital 236–8 Shanghai County Real Estate Corporation 105 Shanghai Interbank Offered Rate (SHIBOR) 212 share reform see non–tradeable share reform Shenzhen: land use rights sale 158; localistic networks 259; population estimates 255–6; resident population 253; Shenzhen speed 95, 261, 270, 274; stock market trading 187–8, 195; trading rooms 193, 197; Tulou, social housing 100–1, 102, 103; urbanisation process 252–3, 270–1 Shenzhen chengzhongcun: administrative structure 261–2; cun development patterns 248–50, 260–1; economic and social issues 251, 273; employment and living conditions 263–4; entrepreneurial development 270; Guanlan and its boundary 247–8; housing standards, variable 267–9, 268; specialised communities 265–7, 266 Shenzhen districts: Dafen Cun 265–7, 266; Guanlan 247–8, 263–5; Shuiwei 269–70; Xiasha 267–9, 268 situatedness 24, 37 Smith, Adam 8, 9–12, 244, 282, 288 social capital 67–8, 144, 145 social embeddedness 54–5, 279 social networks: expertise, sharing of 120–1; financial markets, use of 211–12; guanxi, facilitation role 62–4, 140–1, 168–9; network capitalism 65–6 socio-economics: features of 54–5; uncertainty reduction strategies 56–7 soft budget constraints 59, 73, 84, 118 sovereignty 47–8 Special Economic Zones (SEZs) 7, 76, 158 State-Owned Assets Supervision and Administration Commission (SASAC) 22–3, 58, 60–1, 189, 292n state-owned enterprises (SOE): business ties, use of 141, 142; Chongqing Model 124; company investments 185–6, 189–90, 204; private sector licensing 227; restructuring of 174 State Six Articles 161, 164 stir-frying 106, 181, 195 stock markets see also investors; illegitimate trading 190; influence on economy 195; non-tradeable share reform 186, 188–92, 203; risk awareness 201–2, 202; Shanghai index 185, 188; share types 184–5; Shenzhen index 188; state involvement 183–4, 204 stock trading 182–3, 189–91 swaps 150, 208, 213 tao (get stuck) 181, 194–5 330 Index technology 205, 207, 213 temporality 25, 73 Thévenot, Laurent 218–19 Tianjin Economic Development Area (TEDA) 119–21 Township and Village Enterprises (TVE) 87, 115 trading rooms: individual investors, growth in 195–7; localised investment 197; operations of 192–5, 193–4, 198; vocabulary of 198, 198–9 trust 117 Tulou, social housing 100–1, 102, 103 uncertainty: Chinese financial markets 210–13; pricing models, function of 213–15; trading strategies 217–18 urban change: building big 95–6; city growth models 118–19; development options 85–6; experts and urban potential 88–9, 109; land possession and power 83–4; property market, emergence of 81; relational governance 92–3, 117–18; state expectations 99 urban identity: xiaoqu and place branding 131, 133–5 urbanism: commodity housing, investment in 130, 133; district level governance 125–8, 126; experts and urban potential 120–1; foreign direct investment 122–3; global generic buildings 97, 98; housing supply 7; iconic architecture 95, 97, 97; maximum density, challenges to 90–1; migration, impact of 250–3, 253, 257; projected growth 6, 76; property market, emergence of 81; property rights, influence on 73–4, 89–90; real estate market 72–5; regional growth policy 114–15; speed of change issues 90–2; state socialism to market economy 113–14, 179; top 10 real estate companies 132 Urbanus 100, 266 Vanke 79, 99–100, 268–9 village see chengzhongcun; Shenzhen chengzhongcun Virilio, Paul 91–2 virtues 48–9, 50 Wanda Group 168 Wang, Hui 10, 44, 47–8, 138, 289 Wang, Jinglin 168 Wang, Shi 100, 168 Wang,Yang 287 Wank, David 66 warrant 199–201, 293n Washington Consensus 16, 276–7 Weber, Max 3, 10–12, 37, 40, 44, 45 White, Harrison 4, 14–15, 70, 229, 243 Witt, Michael A 16–17 Wu, Fulong 17–18, 82 wupan 106–7 xiaofei 181, 189, 190, 204 xiaoqu: commercial properties 176–7; commodity housing 231, 232; demand for 22, 116; developer responsibilities 176; real estate 5, 7; Shanghai theme towns 128, 129, 131; urban identity and place branding 131, 133–5 yang 33, 41, 241 Yangpu Shechi Company 163–4, 165, 168–9 Yangzi River Delta 203, 223–4 yi 49 yin 33, 41, 241 Zhou, Xiaodi 105 ... William Merrin and Richard G Smith China Constructing Capitalism Economic life and urban change Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker Aeromobilities Theory and method Saulo... partial gift exchange of guanxi relations that constitute such security Introduction China constructing capitalism is also China constructing urbanism China constructing urbanism again stands in contrast... Cwerner, Sven Kesselring and John Urry This page intentionally left blank CHINA CONSTRUCTING CAPITALISM Economic life and urban change Michael Keith, Scott Lash, Jakob Arnoldi and Tyler Rooker First