Research On Transaction Cost Analysis And Control Strategy Of Urban Renewal In Old Residential

With the deepening of the process of urbanization,the development of urban and rural planning in the new period will change into the coexistence of "stock planning" and "incremental planning",and urban renewal has become an inevitable trend of urban development.Under the pressure of rapid growth of city population,shortage of land resources and residents' demand level changes,Guangzhou,Shenzhen and other places have first carried out the local practice of city renewal,and promulgated the "Urban renewal measures" and other policy documents to ensure the implementation of the project.Under this background,as one of the main contents of the stock plan,the urban renewal in the old residential area can not only enhance the carrying capacity of the city population,infrastructure improvement and improving the living environment,but also create huge economic benefits,upgrading and reuse of the stock land,which hence has great potential of development.However,in the process of exploration and practice of urban renewal in old residential areas,many problems have also been exposed,of which the contradictions caused by the way of demolition and reconstruction are the most serious.Whatever the project development mode,it is hard to solve the problems of difficult demolition,long time project progress and huge capital consumption.Although there are still a lot of renovation needs,project implementation rate is extremely low and the governments have to suspend the implementation of the projects.In essence,the main cause of this result is the excessive dispersion of property in the urban renewal of the old residential area,resulting in the difficulty of obtaining stock space,great waste of social resources in the transfer of property rights and no parties concerned being profitable.In view of this,based on the theory of new institutional economics,the control of transaction cost in the transfer of property rights will reduce the conflicts of interests,promote the smooth integration of property rights in urban renewal of old residential area,and realize the effective utilization of resources and help to promote the development of urban renewal in the new period.Therefore,it is of important theoretical and practical significance to analyze the urban renewal problem based on transaction cost.Based on the clarification of old city residential areas,the concept of related urban renewal and transaction cost theory,this paper summed up the influencing factors of transaction cost in old city residential areas,recognized the main transaction cost through questionnaire survey,and compared the different development mode using the system comparison method,explored the sustainable development mode of project,and put forward the control strategy of transaction costs.The main achievements of this research are as follows:(1)Based on the main characteristics of stakeholders,transaction activities and transaction environment of urban renewal projects in old residential areas,refine the 7 key influencing factors of transaction cost in urban renewal of old residential district and analyzes how they causing transaction costs manifest in the execution of project.(2)Refine the effective project key transaction costs,construct the transaction cost list and the 6 categories of the costs were classified,i.e.negotiation cost,decision making cost,information cost,plan cost,investigation cost and searching cost according to its characteristics.(3)Propose the evaluation method of urban renewal development mode and development and provide decision-making basis for the selection of city development model in old residential areas.(4)Put forward the transaction cost control strategy for improving the legal system,improving the management mechanism and the construction of credit system in three aspects.