Tsinghua Scholars Disclosed That Land Sales Revenue Increased 6732 Times In 21 Years.

High housing prices have long been criticized, and many of them have directed their roots to land finance. However, how much land finance has depended on land sales has always been a mystery. Yesterday, Tsinghua University National Center for research center Guan Qingyou (micro-blog) in its micro-blog in this disclosure, the conclusion is shocking: from 1989 to 2010 21 years, the national land spanaction price increased 6732 times, and land sales income equivalent to local fiscal revenue proportion rose more than 300 times.

　　 land Transaction: from 450 million to 3 trillion

Guan Qingyou's list, which is listed in micro-blog, entitled "land spanaction price equivalent to local fiscal revenue", lists 3 parts of land spanaction price, local fiscal revenue and proportion from 1989 to 2010 year by year. It can be seen from the table that the growth of numbers is fast and interesting.

In terms of land spanaction price, in 1989, it was 447 million yuan; in 1991, it broke through 10 billion yuan to 10 billion 187 million yuan; after that, it increased year by year and fluctuated slightly during the period, but most of the time was maintained at five hundred sixty billion yuan. But in 2001, it suddenly increased sharply. The previous year's shortage was 60 billion yuan, soaring to 129 billion 600 million yuan. Over the next 10 years, this figure has been increasing year by year. Skyrocket In 2007, it broke through trillion yuan to 1 trillion and 221 billion 672 million yuan and reached an astonishing 3 trillion and 10 billion 893 million yuan in 2010, an increase of more than 70% compared with the previous year.

From 447 million yuan in 1989 to 3 trillion and 10 billion 893 million yuan in 2010, the land spanaction price increased by 6732 times in 21 years.

Local fiscal revenue increased by more than 21 times in 21 years.

As well as land revenue growth, there is also local fiscal revenue. It can be seen from the statistics that in 1989, the total amount of local revenue was 184 billion 238 million yuan, and then there was a slight fluctuation but a trend of long-term growth until 2003. The income of that year was 984 billion 998 million yuan. But it began to break through trillion yuan in 2004, when it was 1 trillion and 189 billion 337 million yuan. In the next few years, the local revenue also seems to be on the express train, increasing year by year, constantly breaking the record: breaking 2 trillion in 2007, reaching 2 trillion and 357 billion 262 million yuan, breaking 3 trillion in 2009, and realizing the income of 3 trillion and 260 billion 259 million yuan. In 2010, it hit a new high of 4 trillion and 61 billion 304 million yuan. Roughly counting accounts, in the past 21 years, local fiscal revenue has increased by more than 21 times.

With the increase of land sales revenue and local fiscal revenue, the proportion of land sales income in local fiscal revenue is also rising. The statistics show that the proportion of land revenue equivalent to local fiscal revenue in 1989 was 0.24%, which accounted for over 10% in 1992, and exceeded 2 in 1994, and remained at around 10% after that. In 2003, it began to make a sudden effort to reach 55.04%. After a few years, it fluctuated slightly, but by 2010 it reached a peak of 74.14%. Compared to 1989, Land sale The proportion of income equivalent to local fiscal revenue has increased by 308 times.

Guan Qingyou noted in micro-blog that the data listed in the statistical table are from authoritative sources such as the 1989 China Statistical Yearbook of land and resources, the statistical bulletin of land and resources, and the statistical yearbook of China in -2010.

Tsinghua scholars: land finance has great impact on China's economy.

"From these statistics, we can clearly see that the dependence of local fiscal revenue on land sales is increasing." yesterday, Guan Qingyou, a researcher at Tsinghua University's national conditions research center, published this blog, said in an interview with our reporter.

He analyzed that the main reason leading to the rapid growth of land sales revenue and local fiscal revenue is the continuous rise in land spanaction prices. With the acceleration of the urbanization process, the demand for land, such as infrastructure construction and housing construction, has been greatly increased, resulting in the rising land price. In particular, the land policy was changed from the allocation system to the "auction and auction" system in 2002, and the land price was also advancing by leaps and bounds. The rise of land prices directly led to the increase of local fiscal revenue, resulting in many local governments increasing their income by relying on land sales and increasing reliance on land finance. Secondly, changes in monetary policy also led to excessive land revenue. In particular, the two rounds of loose monetary policy began in 1992 and 2003 respectively. "The dependence of local governments on land finance has great impact on China's economic development." Guan Qingyou thinks. The most obvious manifestation is the excessive rise in house prices. Therefore, to stabilize the real estate market, one of the main measures is to make local governments gradually get rid of the dependence on land finance.

Net friend: "know why the house price does not drop".

The data disclosed by Guan Qingyou in Bowen caused a heated discussion and thread of discussion among netizens. "After looking at this data, I knew why the house price couldn't be reduced." Netizens "fly 0791," sighed with emotion. This also represents the opinions of most netizens. Netizens "see the hands" also feel that "an inch of land is an inch of gold". "All the money is in house prices. Housing prices will only rise from real business costs and market rules, resulting in many problems such as real estate bubble and potential risks in the financial sector. Netizens "big dentists" think.

The netizen's "free soul" analyzes that the tax sharing system has led the central government to take away the big head of Taxation, and the serious divergence of local financial rights from power has forced local governments to make money by selling land.

Outside the box

Holland: the government must not gain revenue from land.

In fact, land leasing system is not a case in the developed market economy, but rather universal. For example, in Holland, where land resources are scarce, not only is land use control very strict, but also any land spanaction can be given priority by the government. At the same time, the law also stipulates that the government should not obtain any proceeds from the land. The purpose of the government's purchase of land is to control housing prices and solve the housing problem of residents.

That is to say, the only function of the government of Holland is public administration, not to engage in any business activities. The main source of government revenue is taxation. The same is true in other western countries.

Related links

Land finance has worsened the distribution of national income.

The essence of land finance is so-called land finance, in essence, it relies on the future income of overdraft society to seek the way of development. Figuratively speaking, it is "eat your bread and eat your bread".

Advantages and disadvantages of Land Finance

China's urban construction is advancing by leaps and bounds. Its secret lies in the fact that the urban government has accumulated a lot of construction funds through the operation of the land. The rapid development of urban economy and the continuous improvement of citizens' living quality have led to the spanformation and development of the surrounding rural economy, attracting a large number of foreign peasants to work in cities. Its positive effect can not be denied.

However, the problem also arises. First, land finance has worsened the distribution of national income and suppressed private investment. Second, government investment has affected the adjustment of industrial structure and exacerbated overcapacity. Third, the land financial mechanism will not change. Protecting farmland and protecting the legitimate rights and interests of farmers can only be empty talk. Cai Xin

Policy discussion

Land property tax should be created when land finance is changed.

Changing the status quo of land finance needs three pronged approaches.

(1) blocking the land sale mechanism of local governments is the prerequisite for the reform of land and property tax.

(two) the creation of land property tax will enable local governments to get long-term and guaranteed taxes from land spanactions and differential gains.

(three) improve the public finance system. We must spanform the present "investment government" into a "service government". Local governments no longer serve as the leaders of urban investment, but serve as providers of public services.