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Raise Resource Allocation Efficiency via Property Right System Reform (No 165, 2015)


——Survey on Liupanshui's Practice of "Turning Resources into Stock Rights, Funds into Share Capitals, and Farmers into Shareholders"

By Ye Xingqing, Research Department of Rural Economy of DRC

Research Report No 165, 2015 (Total 4850)


The pilot practice of Liupanshui city in Guizhou province in "turning resources into stock rights, funds into share capitals, and farmers into shareholders" has made initial results. "Turning resources into stock rights" could facilitate the transfer and concentration of agricultural resources including scattered land and contracted land to farmers and make good use of idle collective resources and physical assets beyond contracted land. "Turning funds into stock capitals" is an innovative way of using financial support funds to raise the efficiency of utilizing the idle funds of farmers and village collectives. "Turning farmers into shareholders" sets up a mechanism that closely links the interests of farmers, village collectives, and scale farming operators and resolves the problems for scale farming operators with regard to obtaining transferred land, gaining the support and protection from the local cadres and farmers, and receiving support from national policies. To further advance such reform, efforts should be made to accelerate the cultivation of the rural asset assessment market, especially the pricing mechanism for rural resources assets, focus on improving the funding and governance structures of cooperatives, and address fairly and justly the ownership of assets resulting from financial funds.