Trading Land Development Rights under a Planned Land Use System: The "Zhejiang Model"

Hui Wang, Ran Tao and Juer Tong

China & World Economy, 2009, vol. 17, issue 1, pages 66-82

Abstract: China's state planned land use system, including regulations such as setting planned quotas for land use, basic cropland preservation, and pursuing a balance between the conversion of arable land into non-agricultural use and the supplement of new agricultural land, has substantially constrained the economic growth of industrial provinces in China. This article explores the innovative reforms adopted by Zhejiang Province through land development rights (LDR) transfer within a locality and LDR trading across localities. We argue that there is a "Zhejiang model of LDR transferring and trading," which, we believe, has significant implications not only for fostering an efficiency-enhancing market for land development rights and agricultural land preservation, but also for optimal use of land and a more balanced regional development. One important policy issue relating to China's rural land system is that under China's land requisition system, farmers are usually under compensated for urban land-taking. Copyright (c) 2009 The Authors Journal compilation (c) 2009 Institute of World Economics and Politics, Chinese Academy of Social Sciences.

Date: 2009

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