Study On The Reform And Development Of Chinese Rural Land Finance

The “agriculture, countryside and farmers” and the “rural financial reform” are hot issues in the current economic area. Due to the weakness of the dual structure in urbanrural areas and the inferiority of agriculture, both the development of the “agriculture, countryside and farmers” and the rural finance lag behind the development of social economy. The key of the “agriculture, countryside and farmers” issue is the shortage of funds, the phenomenons of the rural funds’ net outflow and the loans’ poor availability both exist. The key sticking point of difficult and costly financing in rural areas is the lack of good collateral. Based on this, we focus on the land of the countryside which has the greatest economic value but still not be fully utilized, we will make organic combination of the rural land and rural finance to realize the conversion of the resource capitalization and asset capitalization, to develop the rural land finance, innovate the rural financial system in rural areas and achieve the inclusive finance in rural areas. Based on the theory of land finance as the logic starting point, the paper takes the development of land finance as the main logic line, and places the theoretical study and practical analysis of China’s rural land finance in the background of international horizontal comparison and domestic vertical development, it seeks to promote the integration of urban-rural development and find the solution of the “agriculture, countryside and farmers” issue, therefore, the significance of the research subject and the countermeasures will be more practical.Chapter one is the introduction. This chapter is the overall planning of the whole paper, including the subject background and the research significance, research perspective and methods, research ideas and framework, as well as the innovation and shortcomings of the paper.Chapter two is the relevant theories and its roots, and it is also the theoretical basis of the paper topic. First of all, this part defines the concept and the research scope of the key words such as land finance, rural land finance. Secondly, the chapter introduces Marxist theorists’ rural land financial related theory and the rural land financial theory with Chinese characteristics, including Marx’s theory of land rent and land income capitalization theory. Thirdly, this part classifies the rural land financial theories of the western scholars, mainly including the financial structure theory, financial repression and financial deepening theory, financial constraint theory and agricultural credit subsidies theory and so on.Chapter three makes a reference from the horizontal perspective of the relevant countries and regions’ rural land finance. First is the combination of the German Land Mortgage Credit Cooperatives and Public Land Bank model; Second is the American government agricultural credit system which takes the Federal Land Bank as the core; Third is India, the characteristic of the land financial system is rural cooperative finance; Fourth is Chinese Taiwan, the land financial model is taking Chinese Taiwan Land Bank as the leading role. Through the comparison and investigation of the rural land financial model in the above countries and regions, it can be seen that the development of China’s land finance is still at the primary stage, Marx’s theory and methods should be used as guidance, exploiting advantages, fully performing the supportive function of the rural land finance to the rural areas, agriculture and farmers.Chapter four is to review the development, achievements and existing problems of China’s rural land finance from the vertical perspective. First, through historical analysis, the chapter reviews the transformation of the financial development of China’s rural land, including the agricultural land financing function in China’s feudal society, rural land financial test during the Republic of China and the development and reform of the land finance since the establishment of the New China especially after the reform and opening up; second is the achievements of China’s rural land finance development. On the one hand, it established the formal rural land financial institution system which including the Agricultural Bank of China, the Postal and Savings Bank of China, the Agricultural Development Bank of China, Rural Credit Cooperatives, Rural Commercial Banks, Rural Banks, Fund Mutual Aid, agricultural insurance institutions, small loan companies and guarantee corporation etc., on the other hand it forms informal rural land financial organization system including banks, private lending, pawn, private funds, private lending, private discount organization etc.; Third is the existing problems of China’s rural land finance, that is, the problem of rural land mortgage and rural land bonds; fourth is the analysis on Chinese rural land financial development lagging, they are mainly the lagging of the land system, limitations of the weakness of agriculture, the restriction of the alienation of market mechanism, the barriers of the financial supervision lagging and the obstacle of the urban-rural dual system etc.Chapter five is China’s rural land financial reform practice. This chapter is mainly based on the vertical reviews of China’s rural land finance development course of the last chapter to make a horizontal comparison of the typical model practice of China’s rural land finance in order to analyze the pros and cons of various rural land financial model. First is the rural land trust model taking Shaoxing as the representative; the second is the securitization of rural land model taking Jiangjin of Chongqing as the representative; the third is the land bill transaction mode taking Chongqing as the representative; the fourth is the land revenue guarantee loan model taking Lishu of Jilin as the representative, especially the land revenue guarantee loans which is carried out in Jilin province fill the gaps in China’s rural land finance, greatly improving the availability of credit funds in rural areas. China’s rural land financial practices which are already carried out have their own characteristics, advantages and disadvantages, the overall objective is to convert the rural land contracted management right into financial assets to realize the function of farmland usufruct function.Chapter six is the future development of rural land finance in China. China’s rural land financial reform must take serving the “agriculture, countryside and farmers” as the starting point and the final result, implementing the recycling of system and mechanism, increasing the financial support degree of rural land finance to the “agriculture, countryside and farmers” to better meet the needs of the “agriculture, countryside and farmers” financial service requirement. So, the basic ideas of China’s rural land financial reform and development should be: to accelerate the reform of rural land system, improve the rural land financial institutional construction, speed up the rural land financial product innovation, enhance the rural land financial policy support, improve the rural land financial law system and strengthen rural land financial risk control. At the same time, vigorously develop inclusive finance, livelihood finance and internet finance, full play the role of the local government, build a fancy rural land financial environment, and to create favorable conditions for the sustainable development of rural land finance.