China's Land Reform Sparks Debate: Higher Prices, Crowding-Out Manufacturing, and Shifting Household Incomes
The article simulates how changes in China's land revenue policy will impact the economy. Different scenarios were tested using a model based on real data. Results show that reducing construction land supply will raise real estate prices, affecting the manufacturing industry. Implementing a nationwide property tax can control real estate price increases and boost local government revenue. Lowering deed tax can help the economy. Combining these policies can lead to higher household income in urban and rural areas.