The COVID-19 pandemic has severely impacted the urban real estate market around the world. This study regards the impact of the pandemic as a quasi-natural experiment, using the Difference in Difference model (DID) to examine the short-term impact of this severe public health crisis on the residential land and housing markets in the Yangtze River Delta. The study found that the COVID-19 pandemic has had a significant inhibitory effect on the average price of urban residential land and houses in the Yangtze River Delta. Although the currency oversupply has caused real estate prices in all cities to rise, the price of urban residential land decreased by 13.7% for each additional unit of epidemic severity. The greater the city’s resilience to the pressure of the COVID-19 pandemic, the faster its residential land prices will recover. Empirical research on the new house samples confirmed this conclusion. Local governments should continue to improve their ability to manage abnormal conditions, not only to prevent the spread of the epidemic, but also to gradually promote the recovery of the urban economy, strengthen urban resilience to better respond to health crises, and achieve sustainable urban development.

The average life expectancy (ALE) of persons with disabilities (PWDs) is much shorter than that of the total population in many countries. However, there have been relatively few empirical studies on the ALE of PWDs in China. This study estimates the ALE and compiles the life tables of PWDs in China using data on 1,359,812 PWDs registered in the Special Surveys of Basic Services and Needs of the Disabled (SSBSND) in K Province in China from 2015 to 2017. The ALE of PWDs at age 20 is 45.2 years (95% CI: 44.7–45.8) for men and 48.1 years (95% CI: 47.6–48.6) for women, which is 15.0 years (men) and 16.5 years (women) lower than that of the entire population. The ALE of those with the most severe disability is only 33.7 years (95% CI: 32.2–45.1) for men and 37.1 years (95% CI: 35.3–38.8) for women. The ALE is relatively short for persons with intellectual and physical disabilities; moderate for those with hearing, speech, and mental disabilities; and relatively long for those with visual and multiple disabilities. Of the PWDs participating in basic old-age insurance (BOI), more than 30% do not live long enough to receive their pensions. As such, because a large proportion of PWDs die before 60 years old, social policies for PWDs should be specially designed.

The Housing Provident Fund System (HPFS) was established in China in the 1990s as a welfare program to offer low-cost loans and encourage the purchasing of houses. However, there has been some controversy over the income redistribution effect of HPFS. Previous studies focused on the effect of low-interest-rate loans but ignored the effects of tax exemptions and low-interest-rate deposits. This paper introduces a lifetime cash flow model which considers the effects of low-interest-rate loans, tax exemptions, and low-interest-rate deposits together. It compares the internal rate of return (IRR) for typical employees with different incomes in four situations: whether or not HPFS participation and whether or not house purchasing. We found that the IRRs of the typical low-income HPFS participants who buy houses with HPFS loans were lower than the IRRs of non-participants who buy houses with commercial mortgages without HPFS participation. For the typical middle-income employees, there is not much difference in IRR between the two situations. Only the typical high-income employees can benefit from HPFS participation, and this is mostly due to the effect of the tax exemptions, rather than the effect of low-interest-rate loans. Increasing the coverage of HPFS and HPFS loans among low-income employees will not improve the income redistribution effect of HPFS.

This article discusses innovative public goods production and organizational form selection based on a case study of the Wenzhou Private Lending Service Center, which was founded during Wenzhou’s comprehensive financial reform in 2012. We find that the local government granted a company the authority to manage the private lending registration system, which was a new type of public good. However, the company presented certain organizational characteristics of government departments in the production of public goods. Our study suggests that the production of innovative public goods is influenced by an uncertain technical environment or uncertain institutional environment. Local governments will try to reduce possible loss due to high uncertainty from both environments, an important strategy of which is choosing the organizational form that can reduce the risk in production and grasping the control rights of the operation of the organization. This article provides an analytical model for organizational form selection in a multidimensional environment.