Zong J.F. (2008), Urban and Regional Governance. China Economics Science Press

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1 Dr. Jiafeng Zong Dr. Jiafeng Zong obtained his Ph.D. in Economics from Nankai University (2002) and did post-doctoral studies at Peiyang University in He was Assistant Professor, Civil Aviation University of China and Associate /Professor , Xiamen University and is currently Professor,Nankai University. Dr.Zong is a senior visiting scholar at Frankfurt School of Finance and Management and now he is also guest professor at Aichi University,Japan. Dr. Zong s research focuses on urban economics, urban governance and local public economics Publications Zong J.F (2016), Urban and Regional Economics. Peking University Press Zong J.F. (2008), Urban and Regional Governance. China Economics Science Press Zong J.F. and Zhou L. Do bigger cities pay higher in China. Journal of China Economics Quarterly Vol(14): Zong J.F,Guo M. and Zhou L. Urban agglomeration and job search behavior : evidence from China. Working paper. (Submitted to Regional Science and Urban Economics) Zong Jiafeng and CAO M. Measuring Urban Construction Efficiency of Large Cities in China. CRIOCM International Research Symposium 2006 on Advancement of Construction Management and Real Estate

2 Prof. Jiafeng Zong Nankai University Montreal, 2017

3 Nankai is a very famous school in China,known as the alma mater of Premier Minster Zhou and Premier Minster Wen

4 This PPT is a part of our project cooperated between Nankai Uni and Glasglow Uni. by the National Natural Science Foundation of China

5 OUTLINE 1. why do we study the name? 2. the naming mode and Two special ways of naming neighborhood in China 3. Why Chengdu? 4. Research methodology 5. Results 6. conclusion

6 1. Why do we study the name?

7 The main reasons are as following: A. Everyone has a name B. Everything has a name C. Every organization has a name D. Smart city need Smart name

8 Name is More Important In China Confucius said "If the name does not reflect the essence, then what is addressed will not be what is defined; if what is addressed is not what is defined, then what is said will not be what is meant; if what is said is not what is meant, then what is doing will not be accomplished."

9 So many people take into account their names and their sons and daughters names seriously in China. They name their names according to Wuxing(Five Elements) and Bagua(Ying and Yang)

10 wood water fire metal earth

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12 2. the naming mode and Two special ways of naming neighborhood in China

13 Naming mode for residential area 1. In rural area surname(zhao,qian, Sun,Yang, etc) +village(cun,zhuang,tun, etc) eg. Zhaozhuang (Zhao +Village) 2. In a city, it is more complex, we can divide 3 periods: 1 st period, before 1949 Hutong and Li in North China Xiang,Fang,Nong, Li in South China

14 Beijing Hutong

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16 Nong(lane) at Shanhai

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18 2 nd period, Worker new village (In Chinese,gongren xincun)and Unit dormitory(in Chinese,danwei sushe ) are very popular in urban China 3 rd period, now Diversification and Xiaoqu are two key words in naming the neighborhood in China. the most popular name is XX xiaoqu

19 However, there are Two salient features of naming neighborhood(xiaoqu) in China

20 1. Expressions with exotic features are used as the names of many. Neighborhood(xiaoqu) e.g. Roman Holiday, Venice Impression, Rotterdam, Singapore City, Rhine River, Barcelona District, Whistler Village, Windsor Manor, Australian Territory, 2th Copenhagen, Wall Street Plaza, Paris Mansion, Hometown of Austria, American County, Canadian County, Norway Forest, Spanish Forest, California Coast, Creative Vienna, Champs Elysees, Mediterranean Garden, Manhattan

21 Roman Holiday Garden at Fuzhou Roman Holiday Garden Apartment, Fuzhou, Fujian province

22 Spanish Forest at Chengdu

23 2. Many developers in China tend to name the neighborhood (xiaoqu) they developed after their companies. Vanke Garden Biguiyuan Wanda Plaza

24 Vanke Garden

25 Wanda Plaza

26 Xiaoqu=? Xiaoqu of China was usually the residential complex developed and constructed by developers, which was composed of dozens or thousands of housing units. The cities in China are formed by many xiaoqu so xiaoqu can be considered as the basic units for Chinese citizens to live

27 How to translate the word Xiaoqu? 1. In English, xiaoqu is not community, Neighborhood, residential quarter, residential area 2. In French, xiaoqu is not Communauté résidence, Quelle résidence

28 Name premium assumption 1. Why are the neighborhood given foreign-sounding names? Consumers xenocentric preference? Indicating the high quality of construction and service? Indicating high-hierarchy of neighborhood? 2. Why are the developers names used in neighborhood names? Consumers trust in big companies? Signaling the high quality of construction and service?

29 2. Why Chengdu?

30 The geographical location of Chengdu City in China

31 Chengdu,capital of Sichuan province,china

32 Neighborhoods(Xiaoqu) at Chengdu

33 Chengdu City, which lies in the middle parts of Sichuan Province in China. Chengdu is the provincial capital of Sichuan Province as well as one of China s sub provincial cities, national economic and social development projects. Besides, it is also the technology center, business center, finance center, hubs of transportation, communication in China s western areas and the centers of politics, economy, education in Sichuan Province. The population on Chengdu was 12,280,500(hukou) in 2016

34 3. Research methodology

35 Hedonic price method Hedonic price method Price: Trading price in location j; X1: Vector of characteristics of house i, including house s size, construction year, the amount of bedroom and the number of living room; X2: Vector of characteristics of house j, including the distance to CBD, the distance to the nearest subway; D: Dummy variables of quarter names

36 D is a group of dummy variables about the names of neighborhood, they are fallname with foreign names, fnetname with foreign names but no international ones, firmname with company s names and keyfirmname with famous real estate company s names. Dummy Variable Methods is employed to handle the names of residential. In other words, a name of residential quarter is the fallname, we make it 1; otherwise it is 0. If a name of residential quarter has a foreign-sounding name, but with no fnetname, we make it 1; otherwise, it is 0. If a name of residential quarter belongs to the firmname, we make it 1, otherwise it is 0; If a name of residential quarter is the keyfirmname and it belongs to the top 5 companies in China (i.e. Wanke, Wanda, Lvdi, Hengda and Baoli), we make it 1;otherwise it is 0.

37 Data Trading price data: com Distance from house to CBD (Tianfu Square of Chengdu City): ArgGIS data Neighborhood name: data mining with Python

38 Table 1 Descriptive Statistics Variable Obs Mean Std. Dev. Min Max price fallname fnetname firmname keyfirmname bedroom living room size year cbd subway

39 Table2. Spearman s rank correlation price fallname fnetname firmname keyfirmname bedroom living room size year cbd subway price fallname fnetname firmname keyfir~e bedroom living room area year cbd subway

40 5. Results

41 Table3. Benchmark model (1) (2) (3) Lncbd bedroom living room Year size Subway cons *** (-40.21) *** (144.04) (-1.28) *** (-3.27) (0.53) *** (11.08) *** (136.73) *** (-34.22) ** (2.58) (1.57) *** (6.81) *** (9.55) (-0.36) *** (117.37) R N

42 Table4. The Regression adding neighborhood Names (4) (5) (6) (7) Fallname Fnetname Firmname keyfirmname Lncbd bedroom living room Year size cons (1.60) *** (-44.32) * (2.57) (1.53) *** (6.64) *** (9.57) *** (141.12) (0.39) *** (-44.33) ** (2.60) (1.57) *** (6.79) *** (9.55) *** (141.04) *** (8.37) *** (-44.13) (1.79) (1.19) *** (4.52) *** (10.58) *** (143.18) *** (6.48) *** (-44.66) * (2.38) (1.66) *** (6.35) *** (9.89) *** (142.31)

43 Table 5. Robust check (8) (9) (10) (11) Fallname Fnetname Firmname keyfirmname Lncbd bedroom living room Year (1.59) *** (-34.03) * (2.53) (1.53) *** (6.57) *** (0.39) *** (-34.06) * (2.55) (1.56) *** (6.72) *** *** (8.50) *** (-34.53) (1.78) (1.20) *** (4.43) *** *** (6.71) *** (-34.55) * (2.35) (1.67) *** (6.26) ***

44 6. Conclusion 1. Customers are willing to pay more 14-21% for companies name neighborhood. The major concern of the customers is still the high quality of neighborhood. The effective way to develop highquality cities and sustainable housing and communities is to attract famous domestic real estate companies to construct high-quality buildings. 2. No evidence that neighborhood with exotic features has price premium. the foreign-sounding names of some Chinese neighborhood can not attract the customers as is anticipated.

45 Merci Thank you