Research On Disposal And Assessment Of Chinese State-owned Allocated Land Use Right

The state-owned allocated land-use right system is the outcome of socialist public ownership of land in accordance with the highly centralized China’s planned economy. However, with the establishment of socialist market economy system and the deepening of land use system reform, the existing system of state-owned allocated land use right has been plunged into an inefficient state of "path locking". After over thirty years of land use system reform, the paid and time-limited way of land supply has been realized in the general. The involved scope of the allocated land in current urban stock land is so wide that there are quite a number of problems existing.In order to vitalize the allocated urban land and abolish the dual urban land system progressively, it is necessary to impel it jointly in aspects of institution, legislation, management and etc. Focusing on "state-owned allocated land use rights", and based on current theories and practices, this paper proposes some new ideas, theories and methods to supplement those deficiencies of prevailing system. The paper is divided into four parts:The first part, reviews the four stages of the evolution of urban land use system in China since PRC’s foundation, introduces the definitions, features and capabilities of state-owned allocated land use rights, analyses the problems and reasons of the existing system. By introducing the economical externality theory, game theory and combined with property rights theory and the theory of rent, this part compares the differences and similarities between the management system of public land in foreign countries, Hong Kong, Taiwan and the transfer land use right system in Chinese mainland. And then it puts forward the view of abolishing the state-owned allocated land-use right system gradually and building up the market allocation mechanism of land resources instead so as to realize the fair and just unitary land supply mode.The second part, delimitates the stated-owned allocated land use right property, and then summarizes the strengths and weaknesses and the applicable scope of some treatments like transfer, leasing, financing (shares) and authorized business. Based on the current situation, divides the state-owned allocated land use rights into three types of organ, business and individual, and then proposes some specific measures accordingly.The third part, the core issue of the state-owned allocated land use right is the price assessment. On the basis of the definition of land price connotation, it analyzes the influencing factors in land price and proposes technical routes and methods of price assessment, which is using income capitalization approach and market comparison approach to assess the state-owned allocated land use right price for business, residence and industrial purpose; sensitivity analysis, land use conversion theory to assess the state-owned allocated land use right price for particular purpose.The forth part, by using China Railway Corporation’s restructuring for listing as an example, scheming out the disposal of land assets and carrying out the price assessment, further proves the feasibility of the research achievement in this text.