Study On The Market Capital Operation Of Development Zone Land

The Construction of development zone has been developing and expanding rapidly like bamboo shoots after a spring rain since the reform and opening policy. Development zone plays the huge role such as opening to the outside world, attracting foreign investment, promoting economic development with high speed etc. Development zone has rapid become the most developed and active economy area, which has also become a window of Chinese economy opening to the outside world and a model of leading the way inside. Meanwhile it is also the main force in China's exports and foreign investment in the region. However, some of the land around the interrelated problems, often become a conflict and focus issues in the course of development and construction of development zones. Therefore, the issues of development zone land catch attention of the government and academic community.This text regards development zone land under the conditions of socialist market economy of our country as, which studies on the issue of capital operation of development zone systematically. Development Zone approved by the state or local government is designated clearly, for attracting foreign investment, developing high technology and promoting regional economic development, which is a special economic area implemented relatively special system and preferential policies. If we talk about the issues of development zone, we inevitably have to turn to development zones land. Because land is the core and foundation thing of development zone, it is also the key to management and administration of development zone. To build a development zone from a series of its locating, programming, land expropriation, land readjustment and bring to market, its material is based on land. Land is not only a resource, but also it is an asset. However, our country has neglected land assets characteristics, and used it extensively for a long time. As a result, land is in a huge loss of profit, which hinders the development of a socialist market economy.The goal of the capital operation of development zone land is to allocate its land rationally in the process of realizing the market value of land. Capitalization of the land, in accordance with the principle of separating land ownership and use right of land, is to make market land assets as business capital. In essence, It is the right to use the land floating in the market. This is a strategic application of right to use land by open trading .Only can be used capital operation of urban land assets, it is to achieve Rational allocation of land resources, conservative and intensive use of land, aim of land assets keeping value and adding value.Capital operation of development zone land is a complex project. In this text, the development zone land in purchasing, in reserving, in supplying, land funds in financing and land income in distributing etc, are discussed and summarized as the content of development zone land in capital operation in detail.The text, based on the macro background of China's socialist market economy, in the light of China's existing laws and regulations, makes the nature of unified purchasing land as a "mandatory trading relations". It means that the nature of purchasing land is mandatory, and it is a buyer-seller relationship between the two sides for price. This text mainly contains two aspects that are the former land users on the rights of purchasing land and the constitution of purchasing land price in order to analyze the value of purchasing land. By comparison foreign purchasing land system, the text was found the problems of the existing purchasing land system, which was given the way of formulizing fair compensation for the land price.The important aim of reserving development zone land is an achievement of land assets value added. Land reserving system is a business management system used by the government who apply market mechanism in accordance with legal procedures, in term of general land use planning and urban planning, develop to carrying out the earlier stage by the land that way gets such as calling back, purchasing, displacing and expropriating, and then store them, in order to supply and control the needs of all kinds of the city construction area. At present, our country already has had more than 1,000 cities to adopt land reserving system, a lot of city already has promulgated local land reserving regulations. The financing channels of economic development zone land reserving fund mainly include government budgetary allocations, loads from bank reserving land, the finance system issuing land bond and stock, land possession transfer increment income raise, the transfer of land incremental revenue etc. To build land reserving mechanism is the core task of operating the state-owned land, is an effective way to maximize the value of state-owned land assets.Various development zones competing by lowering land price, which caused heavy losses of state-owned land assets for a long time; Land is sold by the way of achieving agreement much, so land transactions still exist hidden. This text is based on them to analyze the existing problems of development zone land operation in the market. Having consulted the accounting content that the new " Accounting Standards for Business Enterprises " promulgated on February 15, 2006 and the new "Ownership Law " being put into effect soon on October 1, 2007, the text makes the definite land-use right of development zone, puts forward the key that development zone land supplies is compensable usage, adopts the bidding, auction and hanging out shingle to transfer the land-use right of development zone.The operating cost of develop zone land includes various actual expenses that happened in the process of land expropriation, calling back, purchasing, developing in the earlier stage, and managing during reserving land. The operating revenue of develop zone land is composed of the income during reserving land and supplying land. The operating revenue of develop zone land subtracting its cost, is the operating net benefit of develop zone land. This text establishes a relational model for the income distribution of development zone land between the government and the institution of operating land (land purchase & reserve centre), to divide the benefit between them by a certain proportion.By using the theoretical analysis of the material flow and financing flow of development zone land operation, this text researches on the operating mode of development zone land. It inspects our country land market structure, constructs the market system for capital operation of development zone land, establishes the system model called WSR (Wuli- Shili - Renli) at last. The text, by investigating and consulting the other relevant special materials, takes the capital operation of Changchun economic development zone land as a typical case at first, and then has specifically analyzed its land resource condition and its land operating condition, which has analyzed Changchun economic development zone land by cost-benefit analysis in detail, has presented some proposals for the capital operation of Changchun economic development zone land. We attempt to construct the new pattern for capital operation of development zone land under the market economy, expect that it can benefit both the construction and development of development zone and current our country development zone construction development and the management and administration of land in China.Through analysis of the market capital operation of development zone land, it is favorable to get rid of the difficulties that urban infrastructure construction from the mechanism in planned economy period, which there is only input without output, in order to form positive cycle on" input-output–input again".It is favorable to allocate land resource efficiently according to the market rules in order to realize these goals, e.g. marketization in land supply, captitalization for land resource, reasonable & intensive land use. It is favorable to increase financial revenue of government, gather funds for urban construction, to accelerate the urbanization course and modernization construction. If this research result had been already applied into the practice, it would bring beyond measure economic and social benefit.