Abstract：Rural land system not only influence directly the protection of land resources in China and the sustainable development of agricultural production, but also has close relation with the macro operation of the whole national economy and trade efficiency, and the political stability of Chinese rural society as well. Due to the Law of Contracting of Land, the property has been divided up among the nation, the collective and peasants. And the political right structure made the rural officers the subjects of land ownership. All these lead to the imperfections of land property right, and the drainage of peasants' interests. Therefore, it is significant to reform the rural land system. Besides an array of land system reforms, the system of establishing national accounts for peasants who lost their lands and establishing national funds for them may be a better choice.
