With a new generation of leaders taking the helm in China, reforming China’s land system is said to be on top of the agenda.
We have previously reported that collective land ownership is a huge part of the reason that Chinese farms are extremely inefficient. Some argue that Chinese farmers are 40 times less productive than their South Korean counterparts.
It is also the biggest impediment to urbanization, which Chinese vice premier Li Keqiang, who will become premier in March, has said is one of China’s top priorities.
We know that land in China is owned by the government, now Bank of America’s Ting Lu has put together a great chart that breaks down how China uses its 9.6 million km2 of land:
Photo: Bank of America