The Research On Return Distribution And Operation Mode Optimization On Primary Land Development Industry

This paper makes the research to judge the development trend of primary land development industry in quite a long time in the future from urbanization developing trend and local government fiscal balance. This article argues that primary land development industry still has the necessity to continue to exist in our country, and developing rapidly.Also, a case which implemented by a state-owned enterprise in the middle of a prefecture level city in Sichuan Province has been analyzed. This project starts early, has large scale and great influence on primary land development industry in our country, This article Made a deep research on the background of cooperation、the expected goal for government and company which have been realized、the successful experience and imperfections. Summed laws and regulations of primary land development industry which formulated by national and provincial department.On the basis, summarized ten suggestions which are given on the optimization of operation model. Such as:"revise items of return distribution"。 During making post-evaluation analysis of this case, Found that the minimum return rate of equity capital is 25.26% on primary land development project by the calculation of CAPM model. The research also shows that the overall risk level of primary land development project is 1.53 times than real-estate development industry.To calculate beta value of primary land development industry, Summarized and analyzed the risk of primary land development industry and real-estate development industry.Combined the experience of participating primary land development project liquidation, Expect our country can formulate laws or national-regulations which can regulate the entering system of primary land development industry.