Presentation by Zhi Liu on Land Municipal Finance & Housing as part of the "Panel on China's Land Management System Reform: Issues, Progress and Prospect" which took place during the annual World Bank Conference on Land and Poverty held in Washington DC from March 23 to 27, 2015.
China’s urbanization process and its distortions over the last three decades are closely related to the economic growth model under which cities compete for FDI and outside investments. The local governance structure and tax sharing system also significantly shaped the behavior of urban governments in land concessions and local borrowing. The peculiar urban housing market behavior in recent years has a lot to do with the monopolistic supply of urban land by the urban governments as well as other macro-economic factors. The reform directions announced by the central government intend to break away from this growth model, and facilitate a more efficient, inclusive and sustainable urbanization process. However, difficult barriers have to be overcome for the implementation of urban reforms in the areas of urban planning, land policy, municipal finance, property taxation, and financial sector.
Mr. Zhi Liu was appointed Senior Research Fellow and China Program Director with the Lincoln Institute of Land Policy, and Director of Peking University – Lincoln Institute Center for Urban Development and Land Policy in September, 2013. Prior to this, Mr. Liu was Lead Infrastructure Specialist at the World Bank where he had worked for 18 years. In 1993-94, he was a research associate with Harvard Institute for International Development. In 1985-87, he taught city and regional planning at Nanjing University. He has authored and co-authored a number of academic papers and World Bank reports on the topics of metropolitan infrastructure financing, low-carbon city development, sustainable urban transport, public transport subsidies, motorization, and poverty and transport. He holds B.S. in Economic Geography from Sun Yat-Sen University, M.S. in City and Regional Planning from Nanjing University, and Ph.D. in Urban Planning from Harvard University.