摘　要：

现代城市规划是一项涉及分析、干预和管理与城市变化密切相关的政治争议的复杂过程的城市治理手段。协助政府发挥好利益协调者角色是其职能定位，建立利益分配或再分配机制是其工作路径，实现社会福利最大化是其目标导向。本文以南京燕子矶地区再开发为例，基于公共利益保障和房地产开发两种不同的价值导向，构建起两个彼此在目标导向、空间要素和利益格局等方面差异性较大的空间规划方案。并且，通过DCF模型的现金流量分析和敏感性分析，理性比较各自利弊。最后，基于多重价值和利益博弈，提出未来规划制度改革与创新的若干建议。

Abstract：

Modern urban planning is an instrument of city governing involved with analyzing, intervening and managing the complex process of political conflict related to city changes. Assisting government to be interest coordinator is its function orientation; setting up interest distribution mechanism is its approach; and achieving maximum social welfare is its target. Based on two different kinds of value orientation: public interest and real estate development, this paper analyzes two spatial plan projects different in subjective, spatial elements and interest structure in the case of Yan Ziji redevelopment plan.
Moreover, the authors rationally compare their advantages and disadvantages through DCF model. At last, proposals relevant
to planning system reform and innovation are presented.

关键词：

空间再开发；城市规划；政治经济分析；城市治理；DCF 模型；南京

Keywords：

Urban Space Redevelopment; Urban Planning; Political-economic Analysis; City Governing; DCF model; Nanjing