Central Business District Development in a （中央商务区的发展）.pdf

Central Business District Development in a Transition Economy – Case Studies of Guangzhou and Shenzhen, China Bo B. S. TANG and Stanley Chi-Wai YEUNG Department of Building and Real Estate, Hong Kong Polytechnic University Weiwen Li Shenzhen University, China Acknowledge This paper is based on the research project funded by the Direct RGC Grant to the Hong Kong Polytechnic University of Hong Kong A-P032 Key words: CBD Development, transition economy, China Abstract Since its implementation of economic reforms and open door policy, China has rapidly transformed itself from a socialist planned economy to socialist market economy. Guangzhou and Shanzhen are earmarked as the pioneering and experimental cities within the network of cities in Pearl River Delta Region in implementing various market reform measures. Taking advantage of its close proximity with Hong Kong and Macau, these two cities have achieved remarkable success in economic strength and become modernized commercial cities. Supported by the growth of tertiary industries such as finance. information technology, business and trading, property development in these two cities has also taken a rapid pace. CBD development can also be identifies. CBD development is a relatively new product within the development process of socialist China. Before the marketization reform, China’s socialist planned economy implied that the state was responsible for resource allocation. There was no room for market adjustment. Commercial retail areas replaced the position of CBD as the urban centres. When China adopted its open door policy and introduced market mechanism, the spatial structure of ex