State-owned urban construction land market in China has evolved and been improved gradually, but use system of rural collective construction land has lagged far behind, so the urban-rural construction land market in China has been split with a result that use effi ciency of land resources is poor and collective land property rights of peasants are damaged. On the basis of analyzing problems of the current construction land market and also the causes, modern land property theory and institutional change of neoinstitutional economics are applied to study dynamical mechanism and development path of the construction land market, to construct the unifi ed construction land market system of China, and to propose corresponding guarantee policies, so as to achieve the effective allocation of construction land and maximization of social welfare.
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