Nature of Land and Land Expropriation

The present paper contended that the value of land is not derived from its absolute value,but from economic development,urban expansion and institutional setup.The essential problem in the land system,especially the land expropriation system,is concerned with the distribution of the surplus produced by the China's economic development.The current land expropriation system is characterized by the use of the economic development surplus in the city infrastructure construction and in transfer payment for the farmers in the mid-western areas in the form of land finance.The current land expropriation system,as an important foundation system for the rapid economic development of China,is generally reasonable.