Study On The Influencing Factors Of Granting Price For Beijing Rural Collective Land Under Requisition

New urbanization is one of the most important task at the present stage in our country. In this process, changing the ownship from rural collective land to state-owned land is inevitable. In the market economy, state-owned land can only be optimally allocated under the market mechanism. Land granting price is the key to the functioning of land market. Expecially,for Beijing——political center, cultural center, innovation center of science and technology, international exchange center of our country,land resources are very scarce.So, it is of great importance to study granting price for rural collective land under requisition. In this thsis, from the overview of Chinese current rural land tenure on, we discuss the characteristics of land market and the rules of primary land development in Beijing, analyze the main influencing factors of land granting price from both macro and micro aspects. Land finance and reform of rural collective management constructive land transfer are also researched for they are closely related to the land development. The main conclusions are as follows:Firstly, in general, the land prices in Beijing are very high and fast increased; the land of different natures perform different fluctuant trend; a large quantity of land-transfer-fees which have high premium ratios fluctuate over time; the land development has been touched the red line almostly. The operative mode of primary land development in Beijing had changed in2009. Now it has been formed the mode that monopolized by governments and executed by the land reserve agencies and state-owned enterprise. By comparative studies, other domestic typical land development mode also have been discussed, such as government leading mode in Chongqing, enterprises leading mode in Hainan and primary-senior development linkage mode in Suzhou.Secondly, from the macro aspect, the city’s population density, investment in fixed assets, expection of the rise of land value, the level of economic development, the housing stock are the main factors that cause the difference land prices in different cities. Using the supply and demand relationship theory, we can explain the high land prices in Beijing as both the limited new supply and the strong demand for land. Moreover, the gathering of the high quality public resources in Beijing also plays a important role in high land prices. From the actual cases in Fengtai and Changping District of primary land development, demolition and land acquisition costs own the two biggest ratios accounting for the total cost, while the state, city, district governments can gain a large number of land premium income and tax revenue, and these gains are not redistributed in village collectivity and the peasants who lost their land.Thirdly, from the micro aspect, according to the sale information of1323land cases in Beijing, we can classify them into three types:residential land, commercial land, industrial land.geographic information technology has been used to quantify the influencing factors of land price, which can conclude as market factors and policy factors. Three hedonic price models have been established to show how the factors influence land prices in Beijing. At the same time, we find different land present different price-formed laws, and the same micao influencing factors have different effects on the land of different types. Market factors play more important role than policy factors on granting price for rural collective land under requisition in Beijing.Fourthly, land finance plays an important role in the process of land development. Banks which are the typical financial institutions have the strong driving force to loan to the land development projects, mainly because the decisive factor of the performance of banks is the interest income. Loaning to the land development projects can get large-amount, long-during and low risk interest income. Through the game theory anlysis, we find the formation of funds-closed-loop can improve the bank’s internal rate of return greatly.Finally, this thsis summarizes the main conclusions and puts forward the corresponding policy recommendation.