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Development of China’s Land Market System during the 14th Five-Year Plan: Challenges and Policy Options (No.199, 2019)
2019-12-30
By Wang Ruimin & Shao Ting, Institute of Market Economy, DRC
Research Report, No.199, 2019 (Total 5699) 2019-11-8
Abstract: China’s land market system has made positive progress during the “13th Five-Year Plan” period. The confirmation and registration of the contracts for land use rights has basically been completed and the separation of the three rights (the right to use, the right to transfer and the right to manage) has begun to be put into practice. The reform of the land acquisition system has achieved substantial breakthroughs. It has clarified the public interest for the first time, replaced the original compensation-for-use method with the area’s comprehensive land price. The collectively-owned construction land entering the market has promoted the integration of urban and rural land systems, the urban land market efficiency has been improved, and the “three regulations in one” has been steadily advanced. However, compared with the requirements of high-quality development and construction of modern economic system, there are still many problems and obstacles in China’s land market system, such as imperfect market mechanism, distorted land tax system, and unsustainable resource environment and so on. The “14th Five-Year Plan” period is a key period for China’s high-quality development. We need to make breakthroughs in promoting efficient use of land resources and moderate decentralization of land management , focus on the protection of land property rights and the marketization of land elements, continue promoting separation of the three rights and the consolidation of agricultural land, guide collectively-owned land gradually enter the residential land market, improve the distribution pattern of value-added income from land and the taxation system on land, and stimulate healthy and efficient development of the land market.
Key words: the 14th Five-Year Plan, land market, challenge
