October 22nd, 2008
China’s New Land Lease/Transfer Rules
Interesting story on the adoption of rules permitting land lease/transfer in China:
Although China’s 800 million farmers own their produce, farmland in China is still collectively owned and parceled out in 30-year leasing contracts. Allowing the transfer of land-use rights is a major step toward privatization.
Okay, this sounds like a good idea. Why? In theory:
Markets for land leasing and rights transfer will be set up to allow farmers to subcontract, exchange and swap their rights, the agency said. All transfers of land-use rights must be voluntary, with adequate payment.
I suspect, however, there’s going to be no small problem with that last part. If you’re interested in the future of China, that’ll be something to follow.
