The Current Financing Situation of Land Reserve and Selections of Land Securitization Approaches

摘要

The urban land reserve system in China is a system innovation in urban land management, which has helped improve the regulation of urban land market and avoid wasteful and improper uses of scarce land resources. However, over-dependence on bank loans in the current financing mechanism for land reserve implies huge financial risks. This paper investigates the current financing mechanism for land reserve in China and the associated financial risks, analyzes the available means for land securitization and, taking into account the system and market reality, proposes approaches of land securitization to widen the financing channel for land reserve.