What is the operation mode of China land market?

China's land market is divided into state-owned construction land use right transfer market and state-owned construction land use right transfer market. The two-tier market has its own characteristics in operation: First, the market for transferring the right to use state-owned construction land is a complete monopoly market. In this market, there is only one seller, that is, the transferor of the right to use state-owned construction land-the state. The transfer of the right to use state-owned construction land is divided into two processes. The first process is that the government expropriates rural collective land and recovers the right to use state-owned construction land. The second process is that the government transfers the right to use state-owned construction land to land users. Second, the market for transferring the right to use state-owned construction land is an imperfect competition market. In this market, there are many sellers and there is competition among them. The transfer of the right to use state-owned construction land is multi-directional, which can extend downward or upward.