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洛阳翻译公司关键字：From the land market in the price formation process point of view, land prices depend on the transfer mode, the level of competition, and the developer of the "reserve price", the reserve price can be expressed as:Base price = expected return - except for land outside the development costs - the lowestprofitThe right side of the latter two remain unchanged, the transfer of reserve land by the transferee of the expected benefit decisions, as is usually expected to make based on current prices, current prices have a direct impact on the land, and Granger test this conclusion results are basically consistent.When the cost of land development changes, the monopolistic competition market, the price of land transactions in the government sector and the full transfer of the reserve price the highest reserve price competition between market developers, and, as demand for land market competition increases, prices closer to the latter, due to reduced profit margins, price changes affect the expected return on the developer down, accordingly, the impact on land prices are also weaker. Granger test results show that short-term impact on land prices, land prices relatively weak impact on house prices, Wuhan, one of the reasons is that the implementation of the bidding, auction and transfer system, the land needs Fang introduction of competition.Land supply policy, "strict gate, to the root tight" is the general trend, "six rectification", "three suspended," "freeze" and other policy interventions, a direct result of construction land supply in stock increasing the ratio of land, as the stock of land acquisition costs are relatively high, resulting in land prices. The relative real estate market, the supply of land by the government monopoly, in the "land to maintain stable growth," the objective, through the land reserve supply of this "tap", it may control the level of land prices, and therefore its control method is more flexible, regulatory effects are easier to control. From this sense, the statistical conclusions of the examination "premium variation in small, short-term changes in the mainland price less affected by the price" is inevitable.Policy ImplicationsStatistical test and analysis results show that: interdependence of prices and land prices and the current policy, if the current price within reason, then, the policy orientation should promote the formation of "stable growth of house prices and land prices," expectations. Therefore, the macro-control policies, should be more endogenous policy instruments, and gradually reduce the frequency and amplitude control. If developers do not make land bank, land bank by the government to control the intensity of a modest price decrease. From this sense, continue to strengthen the policy of suppression of land speculation, the government can be reduced to "iron out the market," the amount of land required reserves, reserve funds in order to alleviate the shortage of land of the storm.
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