On this day 38 years ago, on September 8, 1987 (July 16, 1987 lunar calendar), our country's Shenzhen Special Administrative Region held its first land auction. After the founding of the People's Republic of China, land was owned by the state and has been uniformly allocated by the state for free use. In November 1981, the Shenzhen Special Administrative Region first began to levy fees on part of land use. On July 1, 1987, the Shenzhen Municipal Government proposed a reform guided by the separation of land ownership and use rights. Fang Qin determined that land use rights could be transferred, leased, and bought and sold as commodities. On September 8, Shenzhen sold the first piece of state-owned land for paid use in the form of negotiation and negotiation; on September 11, the second piece of state-owned land was sold in the form of invite tenders; and on December 1, the third piece of state-owned land was sold in the form of auction. This is the first land auction activity after the founding of the People's Republic of China, which has attracted the attention of people at home and abroad. A few months later, on July 9, 1988, Shanghai for the first time sold the right to use a total of 12,900 square meters of land in Hongqiao Development Zone by international invite tenders. Japan Sun Chen's Enterprise Co., Ltd. won the bidding and paid the equivalent of 104.16 million yuan in US dollars. Paid use of land has gradually become common sense among Chinese people since then. Later, buying land, selling land, building houses, and selling houses once became economic hotspots and caused a series of social problems, all of which originated from the idea of paid use of land.