Evolution of the Urban Network in the Yellow River Basin: A Corporate Network Perspective

This study examines the evolution of the Yellow River Basin’s urban corporate network from 2003 to 2023, aiming to understand how intercity connectivity and decision-making authority have developed. Using headquarters–subsidiary linkages of listed firms, we measure connectivity and control of cities within the urban system and employ spatial error models to identify their main determinants. The results show that the network has become denser and more geographically inclusive, especially in the middle and lower reaches. However, a clear hierarchy remains, and upstream integration stays limited. Community structures are anchored by capitals, and multi-core patterns strengthen over time. Coastal hubs in Shandong handle the most significant volumes of ties, while interior capitals such as Zhengzhou, Lanzhou, Xi’an, and Taiyuan concentrate authority—a contrast that has intensified since 2013. Connectivity and control often diverge, and disparities in both have increased. Administrative rank remains the strongest predictor of a city’s position, although its influence has decreased as factors such as openness, development, producer services, and innovation have gained importance. Transportation accessibility and human capital consistently support both connectivity and control, while government intervention initially restricts network roles but becomes less influential over time. These findings suggest that intercity corporate linkages have expanded, yet decision-making authority has not dispersed and remains concentrated in a small set of capitals. Governance that coordinates across provinces is necessary to ensure that increasing linkages translate into shared economic opportunities while protecting the basin’s fragile ecological environment.