Upscaled state entrepreneurialism
Centrally controlled state-owned enterprises in post-pandemic urban development
Bibliographic Data
| ID | 20375552 |
|---|---|
| Authors | Yi Feng (0000-0003-0001-6857, Nanjing University), Zhigang Li (0000-0002-4679-4622, Wuhan University, corresponding author), Fangzhu Zhang (0000-0002-8975-5324, Bartlett School of Planning, University College London, UK), Fulong Wu (0000-0003-4938-6066, Bartlett School of Planning, University College London, UK) |
| Year | 2026 |
| Volume | 58 |
| Issue | 2 |
| Pages | 194-215 |
| Publication date | 2026-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environment and Planning A Economy and Space (JOURNAL) |
| Journal identifiers | ISSN: 0308-518X • E-ISSN: 1472-3409 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0308518x251388769 |
| OpenAlex | W4416381688 |
| Language | EN |
| Citations received | 3 |
| References cited | 83 |
State capitalism has resurged in the aftermath of the global financial crisis. As China encounters geopolitical tensions, property market decline, economic slowdown, and public fiscal deficit, how does new state capitalism become relevant to China’s contemporary urban development? This paper examines post-pandemic urban development and governance and investigates a new trend of state capital expansion in large-scale urban development in Wuhan. The state-owned enterprises (SOEs) owned by the Chinese central government are mobilised to revitalise the post-pandemic economy. In particular, local governments collaborate with large construction companies to undertake suburban new town development despite housing stagnation and economic downturn. They demonstrate the transformation of entrepreneurial governance under state capitalism, where the state remains central in governing urban development, while the central state becomes a key player. We identify a new trend of upscaled state entrepreneurialism in China, where state centrality is increasingly achieved through the direct expansion of central state capital via centrally controlled SOEs. Extensive state capital investment in the production of urban space increases the risk of replicating the failure of land-driven urban entrepreneurialism
Capitalism · Central government · Centrality · Corporate governance · State capitalism · Urban planning · China's Socioeconomic Reforms and Governance · Elite Sociology and Global Capitalism · State Capitalism and Financial Governance
Financialising City Statecraft and Infrastructure
New Urban Spaces
State capitalism(s) redux? Theories, tensions, controversies
Market in State
From Managerialism to Entrepreneurialism
A variety of capitalism … with Chinese characteristics
The Increasing Financialization of China’s Urbanization
On capitalism’s cusp
The state acts through the market
Urban state venturism or urbanization of state capital? Views from the global East
State property, venture capital and the urbanisation of state capitalism
Varieties of urban entrepreneurialism
The new urban managerialism in geopolitical context
Austerity urbanism, local government debt-drive, and post Covid predicaments in Britain
What does the state do in China’s state-led infrastructure financialisation
Derivatives and the financialisation of the Italian state
China’s Local Government Debt
Governing urban development in the Low Countries
Statecraft at the frontier of capitalism
Municipal statecraft
City regionalism as geopolitical processes
Innovating Urban China
Promotion-driven local states and governing cities in action—re-reading China's urban entrepreneurialism from a local perspective
State and collective ownership
Dubaification in practice
The long shadow of the state
Revisiting entrepreneurial governance in China’s urban redevelopment
Urban investment and development corporations, new town development and China’s local state restructuring – the case of Songjiang new town, Shanghai
Financialization in the making of the new Wuhan
State-owned enterprises and the political economy of state–state relations in the developing world
The Suburb as a Space of Capital Accumulation
Neoliberalisation from the Ground Up
Beyond Growth Machine Politics
Neoliberal Urbanization in Europe
Neoliberalizing Space
China's Emerging Neoliberal Urbanism
Developing by borrowing? Inter-jurisdictional competition, land finance and local debt accumulation in China
The financialising local growth machine in Chicago
From entrepreneurial to managerial statecraft
Planning centrality, market instruments
Cities under state capitalism
Building cities on financial assets
What is local government financialisation? Four empirical channels to clarify the roles of local government
Entrepreneurs beyond neoliberalism
Rezoning at the threshold of two systems
Assembling mega-urban projects through state-guided governance innovation
Changing roles of the state in the financialization of urban development through chengtou in China
Putting financialisation in its financial context
The rise of Chengdu between geopolitics and geo‐economics
The ‘wicked trinity’ of late capitalism
Revisiting the Urbanization of Capital
Rethinking the Role of State-owned Enterprises in China’s Rise
Uncovering the City of London Corporation
Turning land into assets
(Re)theorizing Cities from the Global South
The state project of crisis management
Building state centrality through state selective financialization
Urban governance in the age of austerity
The start-up state
Making space for the new state capitalism, part I
Capital accumulation, territoriality, and the reproduction of state sovereignty in China
Uneven and combined state capitalism
Demolishing the Present to Sell off the Future? The Emergence of 'Financialized Municipal Entrepreneurialism' in London
Wrestling with "the new" state capitalism
The urban process under capitalism
The new whole state system
Financializing urban infrastructure? The speculative state-spaces of 'public-public partnerships' in Jakarta
Re-grounding the city with Polanyi
Public land, value capture, and the rise of speculative urban governance in post-crisis London
Post-entrepreneurial cities? Runaway housing costs and the humanitarian turn in urban governance
State capitalism, capitalist statism
The US-China rivalry and the emergence of state platform capitalism
Financializing Detroit
The City as a Growth Machine
State financialization
| Unique citing works | 3 |
|---|---|
| Citations per year | 3 |
| Citation span | 2026 - 2026 (1) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 2 |