What does the state do in China’s state-led infrastructure financialisation?
研究中国国家资本在欧洲的投资案例，揭示基础设施金融化如何源于生产型资本主义发展模式，并阐述国家资本利用金融最佳实践和网络属性服务实体经济的两种关键转变。
Abstract China’s state-led financialisation of infrastructure is an alternative narrative to prevailing accounts of neoliberal financialisation in the advanced capitalist core, where the expansion of private market-based finance-led growth is theorised to transform traditional forms of public infrastructure development and production-based growth. Drawing on the case of Chinese state capital investment in Europe, we demonstrate empirically how the imperative to financialise infrastructure development is emergent from and contingent upon a productivist mode of capitalist development. We articulate two key transformations in which Chinese state capital is being used to leverage financial best practice and its network properties in service of the real economy.