Study On The Obstacles And Countermeasures Of Unification Of Property Right Market In China

Property rights market has developed for about twenty years, however, such problems as stripe-and-block partition, rules differentiation, separate management still exist, which seriously hinder the development of China's property rights market. Non-uniform Property rights market leads to each has its own exchange rules and exchange system, which on the one hand brings more complex regulation and staff redundancy, resulting in unnecessary resource waste, it also complicates inter-regional transactions of property rights resources, which, to some extent, hinders resources flow throughout the country smoothly. Establishing unified property rights market is a real requirement and inevitable trend for China's property rights market. But from the current developing situation, China's property rights market is still not unified. What are the barriers that impeded the unity of our property rights market? What's the reason for these barriers? How to analyze? How to overcome? The questions are those that the paper strives to solve.By way of studying relevant policies, regulations and documents, this paper finds out the intrinsic nature of the property rights market first of all, and then combines with transaction cost theory and institutional theory to analyze the motivation of unifying China's property rights market, and then under the problems that come from current development of China's property rights market, the paper discusses the main obstacle-local protectionism which leads to market segmentation, and with the Game Theory to establish the corresponding mathematical model, gives some proposal on how to overcome these obstacles.Dialectical thinking about the construction of China's property rights market. For property rights classified issue, taking into account the property rights market's service objects as well as the role of capital markets, this paper classifies its property as primary capital market in the multi-level capital market system; for coordination and management issue, as the interests between the Government are inconsistency, it is necessary to coordinate the relationship between the central government and local governments, and local government and local government; for the property rights market efficiency, information disclosure can not be unified in the country, and the unifying process of online property trading platform is not easy, the current situation can not help to achieve high efficiency in the run of property rights market. There are four main factors to promote unification of China's property rights market. First one, the progress of Internet technology and its applications. It promotes the development of e-commerce of property rights. As online property rights transactions is priority to traditional property rights market, to make full use of its advantage, the construction of a unified national property rights market is imperative. Second one, the development of market economy. It requires property rights resources to be able to flow freely. In order to allow property rights to blend into the development of market economy, we must unify these non-uniform property rights system. Third one, the expansion of property rights market business. In nature, to realize maximized business value for some property rights needs no boundary constraints, in order to make services continue to bring more benefits, property rights institutions will promote the property rights market to the direction of unification. Fourth one, the exchange of people's trading habits. Network has penetrated into people's life, which makes people accept online property rights transaction quickly. The exchange of trading habits also prompts people to think about new trading system that adapts to the exist trading ways. According to the characteristics of online property rights transaction, unified property rights system is the change direction.Localism obstacle hinders the process of property rights market unification. This paper establishes local government cost-benefit model, and according to analyze local government's cost and benefit in protectionism state and cooperation state, we know that for two areas that have the same level development, local government gains greater in protectionism state than the co-state, which explains the reason that local government prefers to take protectionism rather than cooperate. This paper also analyzes the state's overall benefits as a whole in protectionism state and cooperation state, we know that cooperation benefits is greater than protectionism. In order to overcome the contradiction of inconsistency between overall benefits and local government own revenue, the paper proposes central government need intervene the unique construction of the property rights market, by a series of measures to mandatory uniform China's property rights market.