Reconstruction Of Farmland Financing Legal System Based On The Theory Of “Separation Reform Of Three Types Of Rights Within The Farmland Property Rights”

Rural land is not only the basic resource of social and economic development of rural area, but also an important economic resourceof rural area's social and economic development. Insufficiency in scale operation and the inability to obtain sufficient funds achieve a serious impact on the economic value of farmland, which is mainly due to the limitations of existing law for the realization of the economic value of farmland. The theory of “separation reform of three types of rights within the farmland property rights” was proposed in the “Communist Party of China' central committee number one file” in 2014, which means distribution of group ownership of farmland, contractual right of farmland and management right of farmland. The theory provides a new reform path of solving this problem. Based on the policy content of stabilizing contractual right of farmland and allowing using management right of farmland as collateral to obtain loan from financial institutions, management right of farmland should have a high degree of mobility and should be an effective means of financing. So the reform of financing system will depend on the “separation reform of three types of rights within the farmland property rights”. Mortgage of management right of farmland which is good for solving the insufficiency of investment which supports the development of agriculture and rural area and promoting the development of agriculture and rural area is of great importance. The paper will focus on the analysis of mortgage of management right of farmland to analyze the construction of financing system of farmland.Including the preface, the paper is divided into four parts.The first part of the paper is preface. In this part, research background, the significance of this research, literature review about the theory of “separation reform of three types of rights within the farmland property rights” and the paper's point of innovation and the disadvantage are explained.The second part of the paper is the current status of the rural land financing system. Firstly, from the perspective of the legal system and the practices, the current status of rural land financing system is analyzed. Secondly, the paper analyzes the existing rural land financing system mainly have three limitations: a large number of rural land being barely used to finance, limited financing role of the pilot project and the existing financing system' lack of ability to meet financing requirements of agricultural productionThe third part of the paper is about the chance and challenge which caused by the theory of “separation reform of three types of rights within the farmland property rights”. Firstly this part discusses the free transaction of the management right of farmland due to its separating from management right of farmland which makes the management right of farmland get rid of the constriction of identity of farmer. Through discussing the free transaction of the management right of farmland, this part explains the theory brings more chances to finance. Then discussing the property attribute of management right of farmland as a kind of land right to make it clear that the theory can make contribution to promote realization of economic value of management right of farmland. Secondly, from the perspective of problems caused by this theory which need us to solve, the paper discusses the challenges brought by the theory.The fourth part of the paper is reconstruction of financing system of farmland. This part' main content is to amend the relevant laws to make management right of farmland become real right, and then discusses the reconstruction of farmland financing system based on the mortgage of the management right, what' more, the paper also provides some recommendations to improve matching system.