| Chinese land institution had undergone three periods from the agriculture cooperation to the people’s commune, and finally to the household contract responsibility system. With change of agricultural structure and objective economic environment, the defects of HCRS have been exposed gradually. As a form of institutional innovation, Joint stock-cooperative system appears based on certain historical reasons and makes up for parts of defects of the original system, which is conducive to the realization of large-scale development of rural lands. But we cannot fail to notice the facts that there are some bottlenecks of Joint stock-cooperative system to be solved. If these problems cannot be addressed and resolved, they will hindered the speed of implementation of institutional innovation to some extent, and ultimately affect the effectiveness of the system.Currently, there are no legislative systems about Joint stock-cooperative system. As an induced institutional change, the system owns a specific formation motivation and typical pilot model in various regions including Guangdong Xiabai mode, Fujian Yangdai mode, Zhejiang Xinfeng mode, Jiangsu Liyuan mode and so on. In order to implement Joint stock-cooperative system in China, we will discusses two key issues related to the system, the one is on the land value, the other one is about performance of the system. Combination of several typical pilot models, we will find its own defects by comparison with other systems. From the mid-term and short-term perspective, we will propose the reform direction in the future. |
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