Vermelding onderdeel organisatie 13-15/12/ Establishing a Credible Land Institution in Transitional Chinese Cities: Shanghai’s Practice, Problems and Strategies International Conference on China’s Urban Land and Housing in the Twenty-first Century Hong Kong Baptist University Presenter: Yawei Chen (Delft University of Technology, Delft, The Netherlands) Real estate and Housing, Faculty of Architecture

14/12/20072 Content I: Building a credible land institution; II: Land reform in China; III: Shanghai’s land reform: measures and results; IV: Challenges for creating a credible land market: problems and strategies; V: Conclusion.

14/12/20073 I. Building a Credible Land Institution Evolutionary stages of land market (Williamson and Wallace 2007): Land; Land rights; Land trading; Land market; Complex market; Building a credible land market in transitional economies: transition; individual local setting and path.

14/12/20074 II. Land Reform in China From land allocation system to land use-right tenure system; Aim: attract foreign investment in property; efficiency; Maximization of land transfer value; Gradualist urban land reform: Western legal doctrines and concepts as reference; Dual-track system till unification; Land use rights tenure system; Pilot projects as experiment at local level.

14/12/20075 III. Shanghai’s Land Reform Measures and Results Local legal framework for active land policy: Hong Kong Model; Land lease experiment: first land lease bid case–1988; Pudong as experiment field: Land use right by sale or lease; Allocated land goes through commercialization process; Land expropriation and land bank system; Related relocation regulation.

14/12/20076 Shanghai Pudong Development To develop 522-square-kilometer Pudong from a mix of old harbor industry area, residential neighborhoods and farm lands to a multi-function modern district

14/12/20077 III. Shanghai’s Land Reform Measures and Results Land market based on land as a market asset; Relationship between the state, the market and societal forces following the rule of the market mechanism: Government becomes more transparent in dealing with market; Involvement of Private sector and private finance, especially FDI; Facilitate an emerging real estate market.

14/12/20078 IV. Challenges for Creating a Credible Land Market: Problems and Strategies Problems: Inconsistency and ambiguity in land policy; Lack of availability of property information; Lack of credibility and independence in the dispute management system. Strategies: Pragmatically learning from successful examples; Enhance information transparency by developing a cadastral system that can be accessed by the public; Increase independent in dispute management: involve citizens; involve more open and democratic discussion.

14/12/20079 V. Conclusion China has established basic market principles and recognize land value; Emerging land market in China is far from perfect; The state should invest greater effort in developing well-functioning land institutions: fairness, transparency, independency, efficiency, balance between demand and interest of social actors.