Over the past several years, the creative reuse of brownfields has played a major role in Chinese cities to give their urban landscape a so‐called second development. This paper analyses the governance of the brownfield restructuring in Guangzhou (Canton). The research is based on a study of the T.I.T Creative Industry Zone, a highly successful creative space currently in danger of demolition. This paper follows DiGaetano and Strom's () analytical governance framework. This approach allows for deciphering the complexities of decision‐making through a well‐structured set of interdependent categories. In Guangzhou, new policies and institutions have been promoting the restructuring and have contributed to the formalisation of public–private interactions. In general, this indicates a shift towards a more corporatist governance. However, the study of T.I.T reveals a rather intricate picture: the policymaking remains influenced by a top‐down authoritative style – sometimes in an arbitrary manner – and to some extent also by particularistic exchanges. This indicates a complex mode of urban governance consisting of increasingly corporatist elements but still with managerial, and to a lesser extent, clientelistic elements. Finally, the coexistence of different governance modes seems to be a typical outcome of China's transition while still remaining more adaptive, experimental and flexible in nature.