ESTABLISHING URBAN LAND MARKETS IN THE PEOPLES-REPUBLIC-OF-CHINA

While the world's attention focuses on the monumental reforms underway in Eastern Europe and the former Soviet Union, the People's Republic of China has been systematically restructuring its socialist economy, gradually introducing market mechanisms to improve the allocative effi ciency of its institutions. This article examines reforms in urban lan d management. It reviews and assesses current land management practice s, describes urban land market reform experiments, and offers specific recommendations for improving land market efficiency.