Bidding Farewell to “Land-driven Development”

Abstract

This chapter provides a detailed analysis of “development driven by land” model over the past four decades. During the last strategic opportunity period, China used its unique land system to drive high economic growth and rapid industrialization and urbanization. The process was manifested in the following specific ways. First, the ample supply of land guaranteed high economic growth. Second, the low cost of industrial land guaranteed the rapid advancement of industrialization. Third, urban land expansion and land capitalization have promoted urbanization. However, the model of “development driven by land” has also exposed many problems. Finding a source to power the next round of development through reform has become an urgent matter. PLEASE INSERT THE KEYWORD LIST AFTER THE ABSTRACT: Land-driven development, Commercial and residential land, Urban land expansion, Land capitalization, Land mortgage loans, Land sales model, Land assignments