Abstract
After the initiation of the privatization program of land use rights in China, land markets began to rapidly develop. This is undoubtedly due to a market mechanism finally being established to allocate land according to economic principles. However, the socialist practice of planned allocation for land leaves behind a land use pattern that affects the privatization of land market to a certain degree. In this study, a major land market in Asia—Shanghai, China—is examined in order to ascertain how the merging of the old land use pattern and the new market system for land use rights produces both opportunities and constraints in the process of privatization.
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