The spatial dynamics of financial activities in Beijing: agglomeration economies and urban planning

Pan, Fenghua; Hall, Sarah; Zhang, Hua

Abstract

Beijing is widely recognized as the leading political, cultural, education and innovation center in China. However, its role as a financial center in national and international financial landscapes is less well understood. In response, this paper specifies the development and change of Beijing as an international financial canter by focusing on the geographies of financial activities within the city. Over the last two decades, financial activities have grown rapidly in Beijing and become more geographically concentrated. Two key financial districts are developing in Beijing: one in Financial Street and one in the Central Business District. The paper argues that the spatial patterns of financial activities in Beijing have been driven by both market and state forces. Drawing on the findings of a regression analysis, the paper reveals the role of municipal policy and planning alongside agglomeration economies in shaping the financial geographies of international financial centers.

Citation

Pan, F., Hall, S., & Zhang, H. (2020). The spatial dynamics of financial activities in Beijing: agglomeration economies and urban planning. Urban Geography, 41(6), 849-864. https://doi.org/10.1080/02723638.2019.1700071

• Journal Article Type: Article
• Acceptance Date: Nov 28, 2019
• Online Publication Date: Dec 6, 2019
• Publication Date: 2020
• Deposit Date: Jan 6, 2020
• Publicly Available Date: Dec 7, 2020
• Journal: Urban Geography
• Print ISSN: 0272-3638
• Electronic ISSN: 1938-2847
• Publisher: Routledge
• Peer Reviewed: Peer Reviewed
• Volume: 41
• Issue: 6
• Pages: 849-864
• DOI: https://doi.org/10.1080/02723638.2019.1700071
• Keywords: Geography, Planning and Development; Urban Studies
• Public URL: https://nottingham-repository.worktribe.com/output/3674429
• Publisher URL: https://www.tandfonline.com/doi/full/10.1080/02723638.2019.1700071
• Additional Information: Peer Review Statement: The publishing and review policy for this title is described in its Aims & Scope.; Aim & Scope: http://www.tandfonline.com/action/journalInformation?show=aimsScope&journalCode=rurb20; Received: 2018-01-21; Accepted: 2019-11-28; Published: 2019-12-06