PLAN261 Lecture Notes - Lecture 10: Urban Land, Work Unit, Economic And Technological Development Zones
Document Summary
China has not initiated a privatization program for urban land, since it has chosen to preserve state ownership (public lands). However, it allowed user rights during urban land management reforms since late. In 1978 when the open-door policy was implemented, foreign investment become more important, and the old land allocation system (no land market; government gives you land) wouldn"t be able to accommodate their need. Another factor was that non-state sectors (collective, private, joint ventures) grew in size and become more exposed to market forces. More local fiscal freedom was given through revenue generated through land leases as a financing option. There are only two forms of land use rights: state allocation (state work units pay allocation fee and have no time limit), and conveyance (to commercial users, market oriented).
