The Private Capital Participating In The Construction Of Public Rental Housing Incentive System Research

The Universal Declaration of Human Rights, which adopted by the UN Generall y Assembly on December 1947, as well as the Constitution of each state clearly stipul ate ‘ensuring each resident own housing opportunities is one of the main responsibiliti es of the government’. 1998 State Council on further deepening the reform of the urba n housing system and speed up housing construction notice(Guo Fa [1998] Document No.23) proposed the establishment of economically affordable housing, the rent of lo w-cost housing for low-income families rent, the purchase of affordable housing for l ow-income families, other higher-income families to buy or lease commercial housing at a housing supply system which is characterized by the “three lines”. However, in t he ‘three-line’ supply level, the low-cost housing belonging to the relief areas, overing a small surface, economically affordable housing is available for low-income families, but there still exists a group of people who can neither afford an economically afford able housing or lease low-cost housing in real life, namely the ‘sandwich class’. For ‘s andwich class’, the housing problem should on the basis of economically affordable h ousing and low-rent housing policy, through institutional innovation. The government should provide housing consumption corresponding housing, namely, to establish pub lic rental housing system, to supply affordable rental housing that is less than the mar ket price.In the ‘Twelfth Five-Year’ period, China is expected to construct 500 million units of public rental housing, although the financial budge of central government arranged the subsidies, the rest of funds are still needed by local governments to raise by their own ways. However, China is lack of diversification of public rental construction financing, and the preferential taxation is small, land supply system is not perfect, the most important is the lack of stability of the protection of legal system. Therefore, the funding resource of public rental construction is still a serious problem for the government.The United States, the United Kingdom, Singapore and other countries have sound legal incentives of public rental construction. They have developed legal incentives to solve the problem of participating in the construction of public rental policy, such as the legal system of tax relief, financial support for the legal system, the legal system of land transfer, and the legal system of land ownership and a series of legal incentives to participate in the construction of public rental housing. These incentives for private capital should be the reference for the construction of public rental housing.We should adhere to the principle of resource optimization configuration, under the premise of fairness and sustainable development, learn the experience from abroad about the construction of public rental legal mechanisms. Combined with China’s national conditions and establish a stable legal construction of public rental incentives to attract private capital to participate in the construction of public rental, and then trying to achieve the objectives of owning basic residency of each resident.In this paper, in accordance with the overall construction of public rental incentives, status quo and problems of private capital to participate in construction of public rental incentives. It is not only worth learning the experience of extraterritorial private capital to participate in construction of public rental housing, but also research how to encourage private capital to participate in the construction of public rental housing in economic law point of view. In addition to the introduction and conclusion, the paper can be divided into four parts:The first part is the construction of public rental legal incentives. It has explained the public rental incentives, outlined in detail to explain what is public rental housing and the features of public rental housing. In addition to this, it has pointed the proble ms encountered in the construction of public rental housing, significance of public re ntal construction.The second part is the status quo and problems of private capital to participate in the construction of public rental legal incentives. It has investigated the current situation of private capital to participate in construction of public rental invent ices and analyzed its problems.The third part is the investigation and legal experience of extra-territorial public rental construction of private capital. It has described the current situation of private capital to participate in extraterritorial legal construction of public rental incentives, and then combined with China’s national conditions and summarized a series of successful experience as reference.The last part is the advice to improve the participation of private capital to the construction of public rental incentives. It is on the basis of above studies, proposed to improve legal incentives of participation of private capital to the construction of public rental housing from the land, taxation, finance and other areas.