This article explores the nature of China’s land-use rights system, its evolution and impact on resource allocation and local governments’ public finances. In recent decades, the public ownership of land has not hindered the development of a thriving market economy. Since the inception of...

This article explores the nature of China's land-use rights system, its evolution and impact on resource allocation and local governments' public finances. In recent decades, the public ownership of land has not hindered the development of a thriving market economy. Since the inception of the...