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2012 1 Abstract The transfer and utilization of rural land in the new rural construction should respect peasants rights and their desires. The capital must be limited in land transfer. Moreover capital to the countryside and cooperation should be limited in the area of agricultural production services so that the peasants bankruptcy can be avoided. In order to restrain local governments from infringing peasants legal interests accountability system must be adopted. At the same time it is necessary to establish and improve other legal systems to reform relevant policies of urban and rural land used for construction and to establish land reclamation and land protection compensation system. After doing these it is also necessary to improve the provisions about rural housing transfer and to permit the owners and the relevant collective to dispose the housing or rural homestead including selling the housing or rural homestead to urban inhabitants. In such a situation the collective will acquire transfer value of land used for construction while the owner of the housing will acquire housing s exchange value. 32