Study On The Rural Land Securitization

China's comparative advantage of agriculture is the low, which is one of the main factors restricting long-term development of agriculture. In recent years, a large number of rural lands are occupied, the rural labor force transferring to the secondary and tertiary industries; the growing phenomenon of land abandonment greatly restricted the development of agriculture. Current rural land system and the deep flaws inherent contradictions are increasingly obvious. To ensure farmers'operating the right of rural land under the premise of long-term stability, deepening reform of rural land system is imperative, this is innovation of land transferring system. In this voice, Third Plenary Session of the meeting came into being, "decision" has removed institutional barriers of rural economic development。Another major factor of restricting agricultural development is fund. Due to historical, policy, market mechanisms and other reasons, our financial industry investing to "Three Agriculture" is not enough and the original accumulation of the peasants 'capital is stretched. The author believes that only using the land revenue as collateral issue to securities; making use of the market function of agricultural finance can we break the financial problems. Rural land securitization, as the part of an important rural and agricultural system innovation, it not only can finance for agricultural development, make institutional innovation of rural land circulation in China, but also play an important role in exploring new financing mode and rural land circulation.The author based on the China's rural land use, through the analysis of capital operation model, reveals that financial innovation of the rural land-transferring meet the demand for institutional support. We should seize the opportunity, That is, through the securitization of land, to raise development funds for agriculture. The right of land contractual management or use rights can be transformed into financial products available to sales and distribution to enhance the "three rural" competitive ability and resilience against risks. Chinese scholars are remaining in the study theory of land securitization, the author gradually tries to put it into practice from the following aspects. First, rural credit cooperatives will be designated as the special purpose vehicle (SPV) so that it play an important role in the process of asset securitization, secondly, define the scope land securitization.Thirdly, rate and enhance land securities, in order to improve the market credit rate of securities, which can better its circulation in capital market. Specially, allow agricultural bank and the postal savings bank as such institutional investors to buy land securities. Because of land securities as new things, it have a growing process, only cared carefully in the early,can it come into towering trees.In all, China should continue to promote and deepen reform of rural land property rights system and establish corresponding rural land circulation market, credit guarantee institutions of land securitization and credit evaluation system, strengthen governmental macro and micro reform, perfect laws and regulations, supervision to make the rural land securitization develop healthy.