土地财政与土地金融耦合的风险及管控

Land Finance and Land Financing: Coupling Risk and Control

近年来,土地财政与土地金融以及二者的耦合是我国一种特殊的经济现象,也是我国固定资产投资与经济高速增长的重要推手。通过对土地财政与土地金融的耦合条件与形成过程的分析,可以发现土地财政与土地金融在缓解地方政府财政压力、促进地方经济增长与社会发展的同时,也积累了许多风险,如片面的土地城市化和经济增长动力的不可持续性、削弱了中央政府进行宏观经济调控的能力等。因此,必须引起高度重视,并采取进一步的措施加以管控。

Land finance and land financing as well as the coupling of the two can be seen as a special kind of economic phenomenon in China in recent years, they are also an important driving force for China＇s fixed asset investment and high-speed economic growth. Through an analysis of the coupling conditions and formation process of land finance and land financing, it can be found that land finance and land financing can alleviate local government financial pressure and promote local economic growth and social development, while at the same time they have also accumulated a lot of risks, such as the unilateral land urbanization, the unsustainability of the economic growth impetus, having weakened the central government＇s ability to conduct regulation and control, and so on. Therefore, they should be watched attentively and controlled with further measures.