Research On Land Supply Policy Under The Background Of The Financial Crisis

We still remember the global economic crisis caused by the American subprime crisis, 2007. Financial crisis has been lingering economic history of mankind since the industrial revolution has been completed. With the deepening of global economic integration process, the financial crisis has been more frequently happened, more quickly spread, wider dissemination, greater impact and more slowly recover. A country's financial crisis often lead to economic fundamentals have deteriorated or even a crisis occurs on many other countries with weak economic base or similar economic structure, even lead to the global market panic and economic slowdown. Therefore, we can't believe in that the financial crisis has been away from China and relax our vigilance, although we successfully resisted the impact of the Asian financial crisis and the U.S. subprime mortgage crisis.The realistic conditions of great population and land scarcity, the monopoly of the land market and strict management of land resources determine the land supply policy can play an important role in macroeconomic regulation and control. We can not ignore the importance of land supply policy on preventing and reacting the financial crisis. But the literature on the relationship between financial crisis and land supply policy is not sufficient. This article is intended to clarify the impact of financial crisis on land demand and land supply policy of China, analyze the internal mechanism of the impact, In order to understand the relationship between the financial crisis and land supply,and try to build a institutional framework that use different land supply policy for the different stages of financial crisis development and dissemination, to get better use of land supply policy on preventing and reacting financial crisis, to ensure that economic runs stably and healthy.The main content is divided into three parts. The first part analyzed the mechanism how the financial crisis affect on China's land supply policy, and classified it by different properties that is land supply policy a tool for land management or for macro-control. One way is that the financial crisis affect the demand for land and then affect the land supply policy, the other way is the financial crisis made impacts on economic fundamentals and national macro-control policies then transmit the impacts on land supply policy. The second part discussed the practical experience how China's land policy changed for responding the impact of Asian financial crisis and the U.S. subprime crisis, and raised some issues. The third part divided the economic cycle into three distinct phases according to the process of incubation and development of financial crisis, that is the economic upward phase with accumulation of financial risks, the economic recession phase after the outbreak of the financial crisis and the economy recovery phase when the financial crisis gradually fade out, and put forward different land supply policy based on the characteristics,economic performance and macro-control targets of different phases.