张理政 王洁晶

Zhang Lizheng, Wang Jiejing

城市更新的本质是对产权结构和城市利益的重新配置，涉及政府、市场、社会等多元利益主 体，这意味着治理结构对于城市更新至关重要。中国香港特别行政区虽然开展了丰富的城市更新实 践，但已有研究对香港城市更新的治理结构较少探讨。本文基于香港特区政府与市区重建局之间的 委托—代理关系，对香港更新策略的治理结构进行解析，研究发现 ：市区重建局发挥了“半政府— 半市场”治理主体的作用 ；一方面，市区重建局是香港特区政府委托、独立运作、专责城市更新的 代理机构，其“半市场属性”促使市区重建局以利润最大化为利益目标，特区政府则通过资金和政 策支持，帮助市区重建局实现代理人目标 ；另一方面，特区政府借助人事任命、隐性干预预算、规 划审批等权力，确保市区重建局发挥“半政府属性”实现委托人目标 ；基于二者之间的委托—代理 关系，市区重建局联结着政府、市场和社会主体，促使了香港 5R 更新策略治理结构的形成。最后， 本文试图在此基础上拓展传统的城市治理理论，并提出香港城市更新对内地的借鉴意义。

The nature of urban redevelopment is the redistribution of property rights and interests, involving multiple subjects such as government, market and society subjects, which means that the governance structure is critical to urban redevelopment. Hong Kong SAR of China has rich experience in urban redevelopment, but literature rarely discussed the governance structure of urban redevelopment in Hong Kong. Based on the principal-agent relationship between Hong Kong government and Urban Renewal Authority, this paper analyses the governance structure of 5R redevelopment strategies in Hong Kong. It is found that Urban Renewal Authority serves as a “semi-government-semi-market” agency; on the one hand, Urban Renewal Authority is de facto an independently operated agent dedicated to urban redevelopment under the delegation of Hong Kong government, and its “semi-market” attribute leads it to pursue profit maximization, Hong Kong government helps the Urban Renewal Authority to achieve its agent goals through financial and policy support; on the other hand, Hong Kong government adopts the power of personnel appointment, implicit budget intervention and planning approval to ensure that the Urban Renewal Authority plays a “semi-government” role and achieve its principal goals; based on this principalagent relationship, Urban Renewal Authority connects the government, market and social subjects, and then promotes the formation of the governance structure of 5R redevelopment strategies. Finally, this paper tries to expand the traditional urban governance theory on this basis, and proposes the reference significance of Hong Kong urban redevelopment to the mainland China.

张理政，博士，住房和城乡建设部政策研究中心、中国社会科学院大学城乡建设经济系，助理研究员。zhanglz_edu@163.com 

王洁晶（通信作者），博士，中国人民大学公共管理学院，副教授。wangjiejing@ruc.edu.cn

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