The Study Of China's Urban Land Assets Securitization Operations In New Era

The urban land is the largest stock assets in urban. In the current situation of the scarcity of land resource and the great loss of land returns, it is necessary to allocate land reasonably, utilize land effectively and develop the potential value of land.The urban land management system in China is not yet been implemented to optimize capital value of urban land. It is necessary to explore and implement the management mode of urban land assets securitization so as to solve the problem of serious capital bottleneck in land banking, reform and perfect the land expropriation policy, enhance government's ability to control and regulate land market and national economy, give an efficient and reasonable utilization of urban land resource and optimize the economic structure. Nowadays, a financial innovation called assets securitization, which is a good financing techniques, is widely used worldwide. It provides a new thought in solving capital shortage during the progress of socialism market economy, realize financial innovation, enhance the development of capital market, break the predicament for urban land assets management. Therefore, the paper makes attempt to seek the feasibility and applicability of urban land assets securitization in China according to the theory and practice of assets securitization. The paper is intended to offer a reference in solving the capital shortage in urban land management.This paper is divided into six parts: The first chapter is the introduction that introduce the background to the study, the progress of research of domestic and international and research objectives, methods.The second chapter includes the concept and theory basis of the Urban Land Securities assets.In the third chapter,the author analyzes the necessity and feasibility.This chapter thinks urban land asset securitization is not only urgent, but also feasible in current China.Chapter IV mainly has carried on the limits to the city tate properties securitization's efficiency's connotation, system's analysis tate properties securitization external efficiency and the intrinsic efficiency, and demonstrate land assets and economic efficiency of the securities and financial efficiency of the relationship, as well as the impact; Chapter 5 is the focus of this paper, it analyses eight urban land asset securitization model first , then combined with China's actual situation and then put forward for China's national conditions of the model- the issue of Urban Land Trust benefit from vouchers, and explained this mode of operation of specific steps. Chapter VI is the conclusion of this article.The paper applies some study method as follows: the combination of normative study & positive analysis, the combination of qualitative expression and quantitative analysis, the combination of history analysis and dynamic analysis, comparative analysis.By some analysis and study, the paper comes into conclusions as follows: there is sufficient theoretical base for the implementation of urban land assets securitization. The current utilization situation of our country's urban land resources determines the necessity and feasibility of land assets securitization. The urban land assets securitization is favorable for improving greatly the efficiency such as land management, land utilization, finance, market economy. The workable mode for the urban land assets securitization in our country is the urban land trust beneficiary certificate.