Recently, the human geography research team led by Professor Hongou Zhang has made the progress in the demonstration of the relationship between "innovation" and "space". A research paper entitled "On Innovation Capitalization: Empirical Evidence from Guangzhou, China" was published in the authoritative journal "Habitat International". Co-author by Dr. Kangmin Wu, Professor Yang Wang, Professor Hongou Zhang, Professor Yi Liu, and Dr. Yuling Zhang.
The research suggested that innovation may be a new mechanism for urban spatial differentiation. Based on the capitalization hypothesis and hedonic price theory, taking Guangzhou as an empirical case, it verifies the influence of innovation on the spatial differentiation of housing prices. The study pointed out that the intensity of the impact of innovation on the spatial differentiation of housing prices is second only to the distance between housing and the CBD, and it is a core impact factor that cannot be ignored. Building on the existing theoretical and empirical literature, the article reviewed the possible mechanisms through which innovation is capitalized into property value, namely, the upgrading of the built environment and the gentrification effect, providing an important theoretical reference for revealing the relationship between "innovation" and "space".
In addition, based on the perspective of innovation-oriented spatial development, an innovation-based built environment conceptual framework was constructed, and the Pearl River Delta was used as a case to verify the impact of built environment factors on the spatial differentiation of innovation productivity. The research was also published in “The Chinese Geographical Science”.
Figure.1 The conceptual framework of innovation capitalization
Figure.2 The spatial heterogeneity of innovation productivity of Pearl River Delta
 Wu Kangmin, Wang Yang*, Zhang Hong’ou, Liu Yi, Zhang Yuling. On Innovation Capitalization: Empirical Evidence From Guangzhou, China[J]. Habitat International, 2021. (109)2021102323.https://doi.org/10.1016/j.habitatint.2021.102323.
 Wu Kangmin, Wang Yang*, Zhang Hong’ou, Liu Yi, Ye Yuyao. Impact of the Built Environment on the Spatial Heterogeneity of Regional Innovation Productivity: Evidence from the Pearl River Delta, China[J]. Chinese Geographical Science. 2021, https://doi.org/10.1007/s11769-021-1198-4.