Featured uniform right to change the system of high prices of contemporary China

Wu Jiandong: unified power will change the system of contemporary China
Mr Cao high prices by: my friend Mr. Wu Jiandong has a profound agrarian reform the system point of view, he made between urban and rural areas s in my 2002 book abolition of land system and land use rights such as bidding, auction and irrational system. However, the views of Mr. Wu Jiandong more direct, concise, the people, the building has a strong meaning. this particular recommendation, and resolve social conflicts have become increasingly prominent and realize the harmonious development of economic and social.
if the Chinese urban housing market as an investment market, there should be wins or loses; a Game a hedge; the prosperity of the crisis. walk back and forth in this sense if realize that, at present more than 110 million square meters of housing in urban areas of housing resources, theoretical market value estimated at between 50-60 trillion yuan, of which more than two years has risen nearly 20 trillion yuan in market value of about; almost more than a year increase of about 10 market value of more than one trillion yuan, a year of urban real estate market value of assets created by the equivalent of state-owned enterprises under SASAC accumulated over the years to form 50 to 16 trillion yuan assets as a whole, this is definitely a full the myth of water! It also reflects: the expected return on housing assets in China has been transformed to current price and current price system, which resulted in the instability of housing assets in China and the Government should undertake a wide range of housing construction of social responsibility. To solve this dilemma overall , now appears uniform should be the top priority right strategic choice.
a contemporary system of high prices in China's history of institutional factors way
1. lifeblood of China's housing reform deficiency
1986 I was at the State Department Housing Reform Office in the drafting Chinese people over the age of the city was the basic living environment. At that time the program after a heated discussion is 200 yuan per square meter sold to individuals, the commercialization of reform, to sell 20 billion is 400 billion, and later adjusted to 400 enterprises remain part of the left part of the local, the central government to part of the money has two purposes, one for new home construction, a cause for other reforms. In retrospect, after 20 years of development, each house has square meters of 200, rose to a two million level, very great changes in the world.
However, the commercialization of housing assets in China is still a value system based on commercialization of urban housing can flow, the flow of rural house can not be half of the flow of city housing rights system in China is still incomplete; commercialization of housing assets in China is still a value system based on housing rights and the separation of land ownership, housing prices in China have great instability, it is expected that China's housing income, future earnings into the current prices, price system, forming a huge risk. It also reflects the commodification of housing in 1998 China adopted the reform since the design of a major reform steps are not taken into account the lack of social protection should be used Housing as a supplement; not considered to be close enough for citizens to address the cost price of goods space; failure to make timely arrangements for the commercialization of rural residence continue the reform, the implementation of circulation; no solutions to national and collective construction land use right unity. which were causing the instability of housing assets, and the Government should undertake a wide range of housing construction of social responsibility.
2. individual cities, strengthening an housing investment property housing market likely to make China become the world's largest gaming
In the current housing market deficiencies in the system, the city's total residential real estate from the overall resources of China, a local boom, the local government, developers, property speculation and various stakeholder groups to make housing a scarce goods. China housing both the commodity, financial, social security and other multiple properties, housing finance property reflects the real estate investment market has been transformed into part of residential investment property in some cities has strengthened the Chinese property market to become the world's largest gaming tendency.
wealth system that allows Chinese residents increased vulnerability and instability of the financial assets of commercial and residential market giant has a rare ability and liquidity requirements of transposition, the formation of China's real estate assets have a high degree of accumulation, constitute a financial surplus. driving the current housing price growth in China, but requires four or five trillion dollars of people, but the detonation of the market bubble may need one or two trillion yuan. Shanghai, Shenzhen, Beijing and other cities housing market more highly speculative in nature may be the face of massive price restructuring. If the speculation of the housing corporations and investors to compare the concentration of the transfer of the hedge, it may constitute more than 10 trillion yuan huge liquidity, not only the current 17 trillion yuan of household savings is difficult to complete the balance transfer market transformation. Deadline June 30, 2007 China's broad money balance 37.78 trillion yuan; narrow money balances to 13.58 trillion yuan, this resource not only to China's huge operation production system, but also to carry China's consumption system, even if all the remaining resources, invest in real estate, it will only seven to eight trillion yuan of funds into the market to move up substantially the level of the premium property market in China Town, not only will lead to social great division, but will also create a market of Wenzhou and other hedging speculation group. The Government had housing prices do not guarantee, and no financial resources to try to jack up the dramatic changes in the market.
the famous political scientist John Deutch, and Singh history concluded that: the greatest threat to stability is the lack of selectivity. To promote the appreciation of housing assets, developers are adopting methods to stimulate social and psychological expectations, with changes in market and public opinion led the appreciation of housing prices in major cities, with the influx of construction news the general appreciation of an irreversible psychological truth to counter China's pressure on resources and the transfer, overdraft China's future, so that price appreciation as a control and social expectations to be as to the upward pressure on prices on the price into appreciation expectations, social expectations of news flows and price appreciation traction, which is a disguised form of housing options and appreciation of the mandatory restrictions, accelerated benefits constitute the decisive battle of different social groups more clearly and developers of social pressure. It may promote greater Game of the scale of international investors and the wave of price appreciation in China and the Chinese government gambling. which would limit the selectivity of housing reform in China, the essence of China's economic growth is the stability limit.
3. the housing market structure needs to make a major restructuring and adjustments
For China, the loan is borrowed wealth to buy a house to house price appreciation is expected to increase the proportion of personal loans is the balance of risks, living outside the real estate investment is the economic expected to betting. building rational, buy a house but also innocent, but need to trade justice, not only need to market justice, but also the system fair. If we consider the integration of Chinese urban and rural residential circulation, taking into account the unity of China's urban and rural land use rights may take to residential mobility of goods, then it may have on the existing system, a huge housing price effects of revolutionary subversion, and even destroy the effect.
this transformation may be carried out in five ways, namely, the executive-led carried out; the National People's Congress led to legislation; also possible to test for the leading places, for example Guangdong's rural house market; also possible to carry out market in the form of self-development, for example, house property, agriculture, private house sale, etc. Finally, the social collective bargaining settlement; is also possible by a huge internal market contraction, adjustments of the crisis, Japan, Hong Kong has experienced a tremendous collapse in house prices artificially high.
should be said that China is entering a structure housing market needs to be adjusted major historical transition, this is a historical trend. According to the Ministry of Construction data, we estimated the total amount of urban and rural housing in China in 2006 was 375-380 million square meters approximately, of which the total privatization of housing should be more than 300 billion square meters, urban housing more than 110 million square meters of building area, rural area of ​​265-270 million square meters of residential construction. China has become the world's largest consumer of housing, but is currently limited to the city housing more than 110 million square meters of commercial premises of the flow of the market half an incomplete market, ready to be the impact of China's housing market circulation; it is also a need for a major adjustment of the market benefits of agricultural non-commodity circulation house there is no meters flow of rural housing is not only the commercialization of the housing market in China further in the direction of reform, but also the history of China's economic development opportunities and wealth interests of the adjustment of reasonable choice is left to raise eight hundred million farmers off the right code. Currently the city is extremely high The price is a product of urban and rural two-tier housing system is a planned economy, the reaction when the genetic disease, is the real estate market distortions in the overall pricing system, can not reflect the real value of China's urban and rural housing. tradable rural housing will not only rich farmers, China's housing market will also expand the huge capacity, but also repair deformities of the Chinese real estate price system.
Second, we must change the current land use pattern unreasonable
1. land supply by 40 million mu in 2006 China's an important reason for rising prices
from the existing land requisition system of planned economy, and its success in housing prices should increase when the supply of land in order to stabilize prices, it is the superiority of the land requisition system, or for example, Baoxinjiuhuo. But the supply of land in China in 2006 is precisely the opposite, to which it is a land control if errors is a fatal blow on the land requisition system, which led to the current face of land expropriation system maintenance crisis continued to increase system deconstruction, or even dysfunctional trend; faced with a herd mentality to buy real estate investors to the historical trend, the purchase of real estate is becoming a one-way up the options, earn no pay, costing him find accounts of the game.
2005 under the Ministry of Land and land use change survey results, the year 2005, 648 million mu of land for new construction, of which 150 million mu of new land for urban construction; new village construction land 100 million mu; remaining approximately 400 acres for all types of development zones, park land for construction and new mining transportation, water conservancy and other infrastructure facilities. Since 2005, 150 million mu of new land for urban construction, housing prices in China in 2005, or roughly acceptable for the future is not big overdraft.
However, according to Ministry of Land and land use change in 2006 survey results, the year 2006 new construction land 329,000 ha, ie, 493.5 million acres. which, the new town construction land of 110 mu (7.4 million hectares), the new village construction land, about 45 million mu (30,000 hectares), the new independent industrial and mining land for construction is 219 million mu (14.6 million hectares), the new transportation, water conservancy and other infrastructure nearly 119 million mu of land for construction. and urban areas, compared to 2005 decreased by 40 million mu of construction land; new village construction land decreased by 55 million mu, which since 2006 has a very large price increases of the important reasons . It also illustrates the failure of macro-control of land, on the one hand not granted to resolve the issue of land development and utilization; the one hand and not new construction sites to solve the problem, but also solve the problem of bad mutual housing. To this end 2007 to change China's current model for the land, or to establish higher levels of government regulation, an ad hoc committee to monitor people's congresses at all levels, to disclose all information, consumers can be made public inquiries, late recovery of the national land development firm public notice of land use approval system, so that the whole Chinese people, land use monitoring; or failure to maintain current information of the land pattern, and gradually the natural deconstruction, or to retain such a planned economy, the government arranged land acquisition model is equivalent to set aside the risk of the housing market.
2 . can not land system, the housing problems are attributed to the move, auction problem
2006 under the Ministry of Land and land use change survey results, yuan, an increase of 40.4%, respectively, and 30.5%. including bidding, auction and transfer area 66,500 hectares, selling price of 549.209 billion yuan, up 16.3% and 30.9%. 348.75 mu, including strokes, auction and sell the land area of ​​only 6.6 hectares or 99.75 acres, strokes, auction and sell the land accounting for 28.6% of all transfer of land, do not easily believe that strokes, auction and led to high prices, 70% in 2006 to sell the land is not tender, auction and sale. Therefore, as part of the show in 2007 from more than 50 million mu of land, housing reform through all levels of coordination, co-funded by the people the form of housing to build housing close to cost price, address the urgent needs of the market is absolutely necessary, and it is the only way to solve the redistribution of wealth in China.
2006 年 strokes, auction of the land area of ​​less than 30%, but revenue has reached 549.2 billion, bidding, auction and the proceeds of the local government stimulus is very large; non-move, auction and more than 70% of land, but this part of the revenue was only 218.48 billion, in order to balance the levels of local government needs, cost of housing close to the land transfer can be divided into 10m20 installment payments, so the government can not reduce the actual land transfer revenues into the social security of land space can still be included in the government special budget, do not accept the land transfer fees, but to reserved for those in need in the future of space in back.
three, unified China, land ownership is to solve the housing problems of the fundamental way
1. from the land, the land acquisition paradigm shift to market will combine development and the Government to protect Transition mode
land policy to solve three problems: First, approved the issue of land development and utilization of the period; Second, the issue of new construction sites each year; Third, thoroughly urban and rural land use right unified land use rights issues.
produce a model of this size and solve the housing construction in China is to continue to maintain our city-state now the land of rural collective land and divided the system model. According to this model divided , the local government as the only bearers of the rural land expropriation, requisition, and thus solve the needs of urban construction land, which is a model. There is another idea, but also a great historic opportunity, because the Constitution , land ownership is not moving, only moving the right to use, it can be to urban land use rights and unified rural land use right, which is uniform over the issue, it will lead directly into the market of agricultural land for construction.
According to a 2005 Ministry of Land and land use change survey results consolidated: China now has 18.31 million mu of cultivated land (122,082,700 ha), according to the 2006 survey results of land use change, 121.7759 million hectares of arable land (18.27 mu); other agricultural land 25,541,000 hectares (3.83 mu); residential industrial and mining land 26.3545 million hectares (3.95 mu). Compared to 2005, the national net decrease of 307,000 hectares cultivated land (460.2 acres). including: building occupied 259,000 ha (387.8 acres).
from a strategic point of view, China has strengthened still has some unused space, the current residential industrial and mining land, but for the 26,354,500 hectares (3.95 mu), 18 million mu of arable land outside the 25.541 million hectares of other farmland (3.83 mu), based on non-arable land of about 2 million acres of land for construction in rural areas, ranging from simple volume rate increase by the complex into use, so as to solve industrial and mining land for future residential land needs is entirely possible, it should be the strategic direction of land use in China, to fully address the survival needs of the Chinese people well.
now to 3.95 million mu of China's agricultural construction land and 3.83 million mu of urban residents and industrial land site 3.95 acres of land integrate, basically half a catty of eight ounces, has a huge rural construction land use of space .3.95 million hectares of agricultural land for construction and mining land to the settlement the vast resources and transport the foundation of China's modernization, but the current The land model is difficult to create the essence of China's land use efficiency, more power wins material, less force wins people, full of rural land for construction of the main great enthusiasm and creativity will make 3.95 million hectares of agricultural land for construction use less. this change our current land, and large increase in land supply in rural areas the main body, and to directly intervene in the market of agricultural land for construction is to achieve positive residential development of industrial and mining land the only way. The purpose of this reform is to achieve from the acquisition, expropriation model to develop the land market and the government will guarantee a combination of strategic change in land use patterns.
even from China to determine the current amount of land resources: the resources necessary to develop the stock of land for construction-based, comprehensive anti-hoarding behavior and constraints, fully able to supply the next few years 400 million mu each year, or even 600 acres for land market operations, China is fully capable to solve the residential, commercial, social security space. China's overall economic development, including housing construction, the annual land between the size of about 500-700 acres, which we can solve and not solved.
2. States should not be a land of urban and rural operators
the partition of China's current dual land system, social system also maintains the city on rural land expropriation, requisition. In a market economy in China, the rural collective land ownership and the transformation of state ownership still retains characteristics of the level of the planned economy, the rural collective land can not transfer, which itself is not a complete property, rights, the only way to transform the state of rural collective land expropriation, requisition, which is still in the planned economy era national land comprehensive economic strategy for the traditional model, this kind of model does not adapt to the market economy on the land requirements, it is difficult to achieve national value of land use preferred.
the inherent requirements of the development of market economy in China needs to make a revolutionary land-use pattern adjustment, going to the world advanced countries in the successful management of land resources in the road. State that is not land management providers, should implement a comprehensive national management from the centralized management of land resources according to the law governing transformation and overall planning of land resources system of governance. To do this it is necessary to compile, as the basis for reconstruction of China's land rights system and the right system, and on this basis, the establishment and operation of the modernization of national unity and Lands Management System.
3. the overall housing problem solving strategies
this stage, China's gradual market and the housing market, land ownership reform arrangements, constitute the business cycle fluctuations in China's real estate market is not fully operational character, but also constitutes a real estate cycle fluctuations in China's five reference points: the First, commercialization of rural residential housing in urban commercial circulation and total circulation structure of China's circulation system, transition arrangements for the housing market; Second, direct intervention in rural construction land and construction of a unified land use right market; Third, local government real alternative to land transfer tax revenue held by local financial restructuring in transition arrangements; Fourth, China's social security through legislation solve the space arrangements; Fifth, the establishment of the national housing investment institutions solve a wide range of past cost of China's cooperative housing arrangements.
At the same time China is 300 billion square meters of private homes can total resources of the property holding tax levied, limited housing space standards to collect more than 100 yuan per square meter per year to the formation of 5000-10000 million revenue, such as the bulk allocated to local governments, local governments will form the redemption of the importance of the land brokerage business capital, but also constitute the local government settle down from the high house price growth to extricate the material basis. from historical experience, the reform configuration of each subject, including the Central Government or the developers have not yet occupied the leading position of the absolute reform, therefore, the future development of the market forces should determine the role of involved parties, each party may create a miracle to reach the final equilibrium price increases.
So far, after over a decade Although the commercialization of housing reform in China, but there is not a complete Chinese housing policy, this should be the Law, stability, China's housing policy can not have instability.
4. uniform legal basis for the right to
1986 年 6 月 25 日 Sixteenth Meeting of the Sixth NPC Standing Committee adopted the , 1988,1998,2004 carried out three years has changed. now, Department is actively promoting the related work, the core of the current is determined by amending the law reform of land expropriation system. Since October 21, 2004 the State Council to the National Development 〔2004〕 No. 28 issued in the name of the file stressed: , is a leader in developing or changing the law or a predecessor of the legal basis for the formulation and modification of bedding. Thus the Recent legislation in the NPC Standing Committee should focus on rural collective construction land according to the law is focused on transfer of .
China also owned by collectives. the land use rights can be transferred in accordance with the provisions of the law. is implemented in a building on the basis of ownership of two land use right system; there are all the collective land into state land use and then set up the right conditions. even if that ownership is limited based on the collective land re-exploration, in fact far from the 1950 rather than on the basis of the 1978 After the implementation of private ownership of land .1950 farmers announced in June, that there is a world with a collective land ownership restructuring, the peasants ownership of land and homestead rights for members in transition, countries need to take to avoid confiscation, redemption, responsibility for compensation or plunder, reducing the concentration of land in difficult times due to the rural turmoil and struggling to promote the rapid development of industrialization in China, and eventually through the promotion of rural land contract system reform in China. We are now at once in the new rural construction land use right of farmers to establish property rights era, should respect the farmers are property in order to effectively promote the collective property of land use right sound system, to create more powerful China.
this reform of China's land rights Diaozheng Di goals: continue to maintain the constitution in the existing state and collective system of land divided Zhi ; establishment of a unified urban and rural areas of different land-use rights for all duplex system; to ensure that rural collective construction land as the legal property, to promote the transfer of real property must be transferred in accordance with the rules; to ensure the transfer of national land use rights to be registered by law-type behavior of the transfer. based on different land ownership while retaining a unified system of land use right should be the collective land use rights in rural China to set the basic direction, which will form a more unified China, the legal rights of land use right characteristics, that is paid, duration, equality and the unity of the transferor and the transferee extensive.
land ownership in China is unified with a single set, in fact, the value of the rights and responsibilities and wealth to the right to use the Trust, for which China should build the world's most comprehensive land-use rights system. developed the high degree of land use rights transfer system, land ownership will also lead to weakening of formalization, the name of the increase in land value of the wealth concentrated in the land use rights within the system, restricting or ignore the statutory rights of collective land currently set up without any constitutional basis. to solve the problem of collective land use rights will directly change the operating system of the current Chinese real estate industry that the Government Expropriation of land of farmers; by the developer-oriented urban construction Real Estate; land rights holders not available to farmers to share their own use of the land urbanization, commercialization of land wealth results; city residents trapped in land resources such as high prices situation. to promote the improvement of collective land property rights system will house China earth-shaking impact of the real estate market, but also adjust the high degree of centralization of the existing operating system, the key to China's real estate initiatives
5. uniform rights can change the epidemic of housing consumption, the social collective panic behavior
buyers must admit that we live in RMB notes in a standard system within the system, the current financial year deposit interest rate of only 3.06%, 3% in China have to cope with inflation, net of the inflation, the renminbi few actual return is negative, thus increasing the value to be trying to achieve a variety of investment vehicles set up to address the comprehensive land use right market liberalization and the reasonable distribution of wealth is to meet the growing needs of the people. Deadline April 2007 30 resident deposits is 17.848893 trillion yuan, the national household loans 4.342702 trillion yuan, which more than four trillion size of the majority of housing loans. It shows that most of the residents were moved into the production sector deposits, although the consumer has great potential, but consumption has not yet created a revolutionary open. If you do not open the unified power market, the huge investment opportunities, way out of this money must be addressed.
due to the current government has the land market, the switch determines the supply of land, when the big some people have been rapidly rising house prices Iconicity control, failed to recognize the collective behavior of abnormal demand led to property speculation, can constitute a high degree of risk, leading to the vulnerability of housing assets and instability. but the formation of a relatively spontaneous, not expected, disorganized, unstable housing prices due to the emergence of urban clusters, competition, catch up with the popularity of housing consumption, the social set of panic behavior of buyers. If this observation, the Chinese have a housing asset bubble, there the overdraft. if allowed to take advantage of the current value of 100 trillion yuan more than two million acres of rural land for construction directly into the market, will reconstruct our system of housing wealth.
the process of our city or the other engage in one-step construction of new countryside, I am not in favor of. urban of the three-step process I advocate, the first urbanization, suburbanization second and third in rural areas and then building. I think: this rural house in suburban base of about 100 million square meters, which houses at least 100 billion 300 billion -500 billion in housing reconstruction. Suppose we have the ability within a decade building 300 - 500 million homes, China has a total 700-900 billion of housing volume, the whole world no country can achieve such a high amount of residential. I on March 16 this year, the Oriental Morning Post suggested that the financing of three trillion yuan proposed formation of the national housing agency, within five to eight years in our construction of 30 100 to 5000 million cost of housing nearly a year at 5-1000000000 square meters sold directly to people in need, this qualification can have residence restrictions, but not related to income. as an effective solution to urban residents and rural residents redistribution of wealth. In addition to stimulating demand, that patch is incomplete polarization of urban and rural real estate market structure. If the annual increase of billions of housing supply, housing prices could not come down. as soon as possible a unified policy of land ownership, which is recognized house sites and house property can flow, so as to solve problems left over by history, homestead circulation, the whole market will be more active.
four, the urbanization process and housing needs of the control
urbanization of our non- Jibi step out of this new rural construction in place, I do not agree. I suggest that the process of urbanization in three steps, the first urbanization, suburbanization second and third in rural areas and then building. I think: This suburban areas Rural Residential block about 100 million square meters, which houses at least 100 billion 300 billion -500 billion in housing reconstruction. Suppose we have the ability within a decade building 300 - 500 million homes, China has a 700-900 million the total housing, the whole world no country can achieve such a high amount of residential. I on March 16 this year, the Oriental Morning Post suggested that the financing of three trillion yuan proposed formation of the national housing agency, within five to eight years We build 3 to 5 billion cost of housing for nearly a year at 5-1000000000 square meters sold directly to people in need, this status can have residence restrictions, but not related to income. as an effective solution to urban residents and redistribution of the wealth of rural residents. In addition to stimulating demand, is to repair the poles are urban and rural real estate market structure is incomplete. At present residential system to promote the regulation, only the way with repair mechanisms and repair of residential property in the system should now be a major, revolutionary adjustments. If the annual increase of billions of housing supply, housing prices could not come down. as soon as possible a unified policy of land ownership, that is, recognition of house sites and house property can flow, so as to solve problems left over by history, home base flow, the whole market will be more active.
I recently considered a problem, I joined 21 years ago when the State Council Housing Reform Office work, when are mainly state-owned enterprises, local government money to build a house problem. and not take into account the urban residential and rural dwellings ...