| How to reasonably distribute land value increments in the process of rapid urbanization is one of the major issues urgently need to be dealt with in the current reform of the land system in China. An analysis of the knowledge source and institutional evolution of land development right and its relationships with land ownership, planning and regulation of land use, standard of compensation for the acquisition of land, and public interests (such as the protection of arable land) shows that land development right is a part of land ownership and that the planning and regulation of land use is the intervention in and restriction on land development right by the state, rather than the source of this right. It is not inappropriate to give some of the land value increments back to society because such increments are closely linked to various social factors. However, the means for achieving of this end must conform to the principle of proportionality. Therefore, in the acquisition of land, the mode of distribution of land value increments should be changed from that of "state monopoly of primary market of land+acquisition a low price and sell at high price" to that of "compensation at the market price+reasonable taxation". Similarly, in the process of upholding public interests, such as protecting arable land and the environment, the mode of distribution of land value increments should be changed from that of "nationalization of land development right+regulation of the quota of land for construction" to that of "regulation of planning+marketization of land development right". |
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