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Comparative Study on the Rate of Return on Investment in Land and Commerce in Huizhou
WANG Chong-Xun
2006, 0(1):
29-36.
Based on historical records from Huizhou, this paper calcula tes the annual ratio of investment and profit on the absolute sales of paddy land was 6 67% prior to the Qianlong period Meanwhile, in the Ming- Qing dynasties, five ordinary examples of commerce in Huizhou demonstrate that the rate of return on investment ranged from 9 to 18% Purchasing land was one way to invest surplus capitals with the principle and interest safeguarded against price inflation .This was different from commercial investment that a mi ed at higher rates of return .The paper also examines two types of land investment in Huizhou prior to the Qianlong reign, land rent and rent on land that been conditionally sold ( dianmai ) .The annual ratios were 25 73% and 23 49% respectively, but this kind of investment was exceptional and very volatile.
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