Shareholding Land Readjustment Led by Local Government During Peri-Urbanization: The Case of Zhaoqing, China

Abstract

This paper focuses on a new model of land readjustment integrated with shareholding in Zhaoqing, China. It determines whether this innovation reduces transaction costs throughout the land development process. To cope with the uncertainty during rapid urbanization in peripheral areas, shareholding land readjustment provides opportunities for the original landowners to share the long-term sustainable land value increment. This is accomplished through a shareholding platform built by local government and a closely associated state-owned enterprise, with a guarantee of short-term fixed compensation. Shareholding land readjustment holds great promise in connecting plan implementation with land property exchange issues in the Global South.