http://orcid.org/0000-0003-0581-4049
![Sample our Area Studies journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5922/TOC-Subject-Sample-2021-Area-Studies.jpg"})
Abstract
From August 2017, Chinese authorities have indicated that the shantytown renovation program would gradually be scrutinized under stricter conditions due to the fact that this policy has enhanced the rocketing real estate prices in Chinese third-tier cities. However, based on monthly data from May 2015—December 2017, this study finds that a higher amount of pledge supplementary lendings, which provide the major funding for the shantytown renovation program, can significantly decelerate the growth of real estate prices in the third-tier cities. This finding has important implications for Chinese decision makers and investors as well.
Acknowledgment
The author would like to thank one anonymous referee and the editor Hung-Gay Fung for very valuable comments. All errors are the author’s sole responsibility.