China's Land Rights Sales Reach 50 Billion Yuan Worth

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Last updated at: (Beijing Time) Monday, March 11, 2002

China's Land Rights Sales Reach 50 Billion Yuan Worth

The Chinese government has earned nearly 50 billion yuan from sales of land use rights so far as the country has accelerated reforms of the management of state-owned land. To date, of China's 2,861 cities and counties, 1,435 have introduced auctions of land use rights in allocating land reserves.

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Reforms of state-owned land management

The Chinese government has earned nearly 50 billion yuan from sales of land use rights so far as the country has accelerated reforms of the management of state-owned land.

Tian Fengshan, minister of land and resources, said at the National Meeting of the Land and Resources held here Sunday, that China has set up the framework of a land market system to replace the former land planning mechanism.

Auctions of land

To date, of China's 2,861 cities and counties, 1,435 have introduced auctions of land use rights in allocating land reserves.

Land auctions have even become a mandatory means in plotting commercial land use in 16 Chinese provinces and regions, such as Guangdong, Zhejiang, Jiangsu and Heilongjiang provinces.

The market mechanism is expected to curb under-the-table dealings and corruption in land allocation, and capitalize the value of land assets.

The minister said that earnings from land sales have been a strong financial support for social and economic development.

Official land markets have been set up in 1,087 Chinese cities and counties, while 1,216 have set a minimum land price in order to guide sales.

China also levied 2.3 billion yuan on land rights sold for new construction projects last year.

20 Years Endeavor Resulted Clear-cut National Land Resources

National land resource survey was brought to a consummation a few days ago through an arduous endeavor of some 20 years. At the meeting of appraisal, experts say this has filled up the vacancy in which the country failed to have a clear account of land resources as to their areas, rights and jurisdictions in the long past.

The national land resource survey was carried out under the advocacy of the State Council aiming at making a clear account of land resources in the country. The survey has now indicated that the administrative land area of China come to a total of 9.6 million square kilometers, in which the arable land accounts for 13.7 percent, forest takes up 23.9 percent and 28.0 percent belong to pastureland. >>details

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