Abstract: By applying the“bottom-up”approach of case study, this paper analyzes the formation of land rights allocation efficiency in Langshan Village and the practical effect. It puts forward a theoretical analysis framework of“the matching of the three elements-farmland value property, behavioural capacity of the subjects and configuration of property rights and powers can promote the generation of efficiency”. The practical analysis of the village’s land rights configuration system shows that the bidding for farmland operation right can promote the realization of the value of farmland elements and the efficiency of division of labor in the large-scale and specialized agriculture, that the farmland contract rights of value type for all households can promote the realization of the asset value of farmland and farmland transfer efficiency, and that the farmland regulation rights of village organizations can promote the realization of the farmland public value and the public goods supply efficiency. Hence a conclusion can be drawn that the seperation of village land rights has formed a variety of basic powers and functions, corresponding to the appropriate property right subjects, which is conducive to the realization of the multi-value attributes of farmland and the balance of the multiple efficiency goals of the village. The summary of the case can provide experience and enlightenment for Chinese villages to choose the path for innovation of land right system and transformation of village development.

Key words: village land ownership; property of value; behavioural capacity; property rights matching; efficiency sources