10 major economic policies in 2014

Rural land-use right's transfer

China will pilot a set of reforms aimed at giving farmers greater property rights to allow them to enjoy more benefits of the country's urbanization drive.

In China, urban land is owned by the state, and rural land is normally under collective ownership. While gradual reforms since the 1980s saw the trading of urban land evolve into a robust property market, land in the countryside has remained largely static as farmers generally have the right to use the land, but cannot directly trade or mortgage it.

This scenario has put Chinese farmers in a vulnerable position, and a key reform meeting last year pledged to gradually change the situation.

While implementing the strictest policies to protect arable land, the country will grant farmers rights to possess, use, benefit from and transfer their contracted land, as well as the right to use land ownership as collateral or a guarantee.

China started a pilot registration program in 2008, and the country aims to roll out the scheme nationwide in 2015.

A farmer works in the field in Xiushui, Jiangxi province, on June 17, 2014. [Photo/IC]