| How to make the transformation of agricultural management from super minor scale to moderate scale, and to guarantee the stability of rural society, achieving urban-rural integration, is a major problem China’s agricultural development faced in the current.Constructing of the incentive and guarantee mechanism of farmland market circulation is the key to solve the above problems. Aiming at these problems above, this paper puts forward the accumulation fund system of farmland transfer(AFSFF) supported by the theories of institutional innovation, social security, policy-based finance. By combined means of fiscal policy and monetary policy, the incentive and guarantee mechanism of cultivated land circulation is built in the system, which adapts the development of agricultural modernization.The accumulation fund of farmland circulation is a kind of farmland transfer reserve with "guarantee and support" as the basic ideas, while deposited by the state, the collective and farmers, to promote the sustainable healthy development of China’s agricultural moderate scale and urban-rural integration.The paper primarily defined the concepts of farmland marketing circulation, housing fund and the accumulation fund of farmland transfer. On the basis of systematically combing the logical thread of the form the accumulation fund system at domestic and overseas, the study revealed with the characteristics of the accumulation fund system, which could helpfully solve the problems of the deficiency of encouragement moderate scale management and the lack of rights protection for farmers in the market- based circulation of agricultural land. Secondly, to make clear the practical problems to be solved, the study analyzed the current situation and problems of the incentive and guaranteed policies in China’s farmland market circulation from macroscopic and microscopic aspects, and then discussed the feasibility of AFSFF from the perspective of farmers’ willingness of farmland circulation. In addition, based on theory and empirical analysis, the paper put forward the general thought and the scheme idea of AFSFF, and then around the three core parts of the systemconstruction, namely fund procurement, usage and management operation pattern, the study and to design of the specific content was carried out. Finally, a risk prevention mechanism was designed by focusing on the problems of the probable risks in the operation of the system.From the perspective of farmland property right system change, the study analyzed the realization forms of the accumulation fund system, and proposed auxiliary safeguard measures for the construction of AFSFF. In order to increase the persuasion of the research conclusion, the dissertation mostly adopted the method of normative analysis and empirical analysis. Normative analysis was used in the theoretical basis, the overall scheme design of the construction of AFSFF and the policy loan pricing model building of AFSFF. Statistical analysis was used in the incentive and guarantee problem analysis of farmland marketing transfer from macroscopic and microscopic aspects and the analysis of the payment capacity for AFSFF. The study of policy practice about the incentive and guarantee problems of farmland marketing circulation in Jiangjin County of Chongqing area was based on case analysis. The analysis of farmers’ willingness of farmland transfer and the factors in the context of AFSFF was based on Gologit model. The exploration of the main factors to affect the farmers’ pay will for AFSFT and farmer’s proportion paid level was based on Cox proportional hazards models. Through the systematic research, results can be concluded as follows:(1) The analysis about the current situation of the incentive and guarantee policies of farmland market circulation in China shows that the incentive mechanism of finance and financial policy for farming on an optimum scale has not formed, and the diversified social security mechanism for farmers who rent out farmland has not established. Form the case of the policy exploration of farmland marketing circulation in Jiangjin county of Chongqing city,some main enlightenments can be obtained that the key factors that promote farmland marketing circulation and agriculture moderate scale management are the two ring driving model of the combination of fiscal and financial policy, the normative system of rural land conversion and the flexible security policy for farmers who rent out farmland emphasized on the reform of household registration system, and so on. By analyzing the characteristics of the existing accumulation fund system, it can be found that the accumulation fund system with the advantages and characteristics of policy-oriented financial services, diversity protection and scien-tific management etc., which will beneficially solve the problems of the deficiency of encouragement moderate scale management and the lack of rights protection for farmers in the market-based circulation of agricultural land.(2) The analysis result basing on data of 496 rural households from 9 provinces shows that the context of AFSFF for farmers who rent farmland in or out accords with the demandsof majority of farmers’ interest. Farmer households who have the loan demand on farmland management, and those who have participated in agricultural insurance and the farmers’ professional cooperatives, show strong willingness to rent farmland in the context of AFSFT to some extent. Farmer households with old householder, low percentage of family agricultural incomes in total income, and those who live in the regions with high level of economic development, show weak willingness to rent farmland in the context of AFSFT to some extent. Farmer households whose householders have the level of education of junior middle and above, and whose major domain are non-agricultural fields or concurrent-business,and who without the experiences of farmland transfer or joining in farmers’ professional cooperative, show strong willingness to rent farmland out in the context of AFSFT. Farmer households with high percentage of family agricultural incomes in total income and family labor force in total population, with low social security, and level far distance from near town,show weak willingness to rent farmland out in the context of AFSFT.(3) In the financing mechanism of the trilateral common payment of AFSFT, national finance already has the ability to conduct financial transfer payment by the way of AFSFT.Meanwhile the reform of the rural land stock cooperative system has built a solid foundation to support the fund from the part of village collective deposit. Employing proportional hazard model, this paper analyzes the farmers’ pay will for AFSFT in sample area. The results show that the majority of farmers have the willingness and ability to participate in the payment of AFSFT, and farmers’ willingness to pay for AFSFT mainly affected by householder’ level of education, family per-capita annual income, the risk awareness of farmland transfer, the evaluation for the ideas of AFSFT. The study measures farmers’ average rates of willingness to pay for AFSFT among the trilateral common payment and in their family per-capita annual income, which respectively are 25% and 10%, and peasant household’s average fund willingness to pay for AFSFT is 956.34 Yuan.(4) Basing on the analysis of credit contracts model, the influence factors of AFSFT loan pricing mainly include borrower characteristics, lending institution features, farmland characteristics, and policy features etc. The mode of management center of the accumulation fund of farmland circulation under rural cooperative financial institutions is obviously better suited for the development of AFSFT after implementing the comparative analysis for four possible modes of operation, which include fund mode, trust mode, the mode of policy banks, and the mode of rural cooperative financial institutions.There are three probable innovations in this article. First, this paper put forward an exploratory research on AFSFT, and conducts the new design of the system combining the concrete reality of the countryside of our country, to make the transformation of agriculturalmanagement by constructing of the incentive and guarantee mechanism of farmland market circulation. Second, the thesis explores the feasibility of AFSFF form the perspective of farmers’ willingness of farmland transfer. The Gologit model analysis is implemented to analyze farmers’ willingness of farmland transfer and the factors in the content of AFSFF in order to find the main points of perfecting the system. Third, the paper build a virtual market environment of AFSFF, to evaluate the main factors to affect the farmer’s pay will for AFSFT and farmer’s proportion paid level from two dimensions of horizontal and vertical indicators,which purposes are to exploit the way of the monetization of farmland welfare guarantee and provide a realistic basis for refining the design of the proportion of trilateral payment for AFSFF.
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