Research On The Innovation Of Industrial Land Supply System From The Perspective Of Contract Selection

As the basis of the national economy,industry has provided power for China’s economic development and social progress.And as the carrier of the real economy,the industrial estate plays a fundamental supporting rolefor the development of industrial economy.However,with the continuous growth of the urbanization process as well as the population,the contradiction between the shortage of resources and social development has become increasingly prominent.The inefficient use of china’s industrial estate,which support rapid industrial development,is difficult to sustain in the long term.In recent years,China has continuously introduced guiding policies to promote the intensive use of industrial land,and various regions have also explored diversified policiesaccording to the actual situation.However,there is little research on the mechanism of innovation choice for industrial land supply policy contracts.The new institutional economics argues that the innovation of the system and the re-enactment of the contract are based on the pursuit of reducing the transaction cost_Based on this,this study uses the transaction cost theory,the contract theory and some institutional economics theories to introduce the concept of the transaction environment,the influence of the external environment on the transaction cost of the industrial land supply,and the analysis of the behavior choice of the transaction subject in the industrial land supply market,and constructs the analysis framework of the industrial land supply system innovation and the contract selection mechanism.This paper summarizes the policy practice of the existing industrial land supply system reform in each region,and explains the mechanism of policy innovation and selection of industrial land supply system with typical cases of Shanghai and Nantong.The results show that:(1)The trading environment as an ongoing and relatively stable external environment is an organic structure that includes several external factors that affect transaction costs,and then influence the behavior of contract stakeholders.(2)The trading environment of industrial land supply process mainly includes:formal system,regional resource endowment and the level of economic and social development.The formal system that influences the choice of contract includes the land property right system,the land use annual plan system,the tax system and the relevant policies and regulations of industrial land which have been introduced.The land title system determines the status of the local government as the main body of the primary market supply of industrial land,and encourages the local government to promote the regional economic development through the allocation of industrial land.The land use annual planning system affects the transaction of industrial land in the first stage of industrial land supply transaction cost,strict use of the plan to stimulate the local government for the construction of land conservation;after 1994 the tax system formed from the central to the local layers of the tax system,so that the value of tax has a "rent"nature,the local governmentstake advantage of the supply of Industrial land to obtain long-term corporate tax,therefore local government investment has played an incentive role;the industrial land supply system policy determines the specific structural framework on local industrial land supply contract,these formal system provideslocal government an important effects on restricting and stimulating the choice of industrial land supply system,including:supply mode,supply year,land price,non-land factor input and post-regulation.The regional resource endowment mainly involves the supply index of construction land within the plan,and the scarcity of supply index affects the transaction cost of industrial land use right transaction.The economic development factors which affect the investment environment and the enterprise location mainly include the traffic condition,Supply infrastructure level and other infrastructure conditions and regional labor quality level.(3)The trading environment clarifies the industrial land supply system innovation,the choice of contract system constraints and the main interests of the transaction orientation.In this framework,both sides of the transaction will determine the transaction costs,considering transaction dimensions such as asset specificity,uncertainty,and transaction costs caused by the pre-,post-and later stages of industrial land,based on bounded rationality and opportunistic tendencies.Therefore,both sides of the transaction will make rational choice in the current trading environment.Based on the above research results,we will make suggestions on improving the industrial land supply system and further improving the efficiency of industrial land use.(1)The central government should avoid making a "one size fits all" decision and reserve a large amount of flexible space for the local industrial land supply policy.The government should leave space for regional development,with a view to promoting the promotion of local industrial level and the overall economic development.(2)The state should further improve the relevant supporting system for the utilization of industrial land use,including the exit mechanism of industrial land and the financing system of industrial land lease.