Study On Mortgage Financing System Under The Rural Land "Division Of Three Rights" Reform

In the late 1970 s,in Xiaogang Village,Fengyang County,Anhui Province,18 farmers signed a land contract which was the mark of the household contract responsibility system,which plays an important role in economic and social development of China.30 years later,in the reason of industrialization,many farmers quit the agriculture to the city plants,and become workers,this phenomenon result in a lot of farmland is abandoned.To tackle this problem,the CPC Central Committee decided to implement the rural land “division of three rights” reform—ownership,contracting right and operating right.However,this reform has been not passed by the NPC.Under the rural land “division of three rights” framework,the property nature of land ownership and contracting right is not disputed,but there is no consensus on the property nature of land operating right,some scholars consider it as a claim,others consider it as a usufructuary right,the corresponding financing guarantee models are the right pledge and mortgage.There are many limitations to the systems and policies put forward in the financial practices such as the model construction of rural land management right credits.To solve the problem,this study starts from the purpose of this reform,based on legal norms and basic theories,point out that the contracting right is equivalent to the right to land contractual management in the strict sense and in the context of the existing legal system and agricultural land policy,the differences happen when farmers pass it to third parties,re-departure while retaining member rights and partial income rights,but the operating right is independent of the contracting right.Therefore,in view of the land operating right in accordance with market rules for mortgage financing,to promote the market allocation of agricultural land resources is the current round of rural land system reform important aspects,We should focus on building the guarantee rules of land operating right.The rural land reform increased credit collateral option for financial institutions,and lay a solid foundation for the development of land operating right credit.This study is based on the financial institutions perspective,to design the land operating right related credit system.In addition,combined with rural financial practice,put forward the "financial institutions + modern agricultural companies + rural economic cooperatives + farmers" to the loan model is a good choice,because this model can help build a more closely linked relationship between farmers and industrial and commercial capital.