本文旨在探討中國大陸城市土地使用權之商品化過程及意涵。先溯及改革前的使用模式，包括使用程序、使用的成本、及管理單位等。次則說明城市土地使用權在兩權分離的架構下由使用價值過渡到交換價值的過程。最後，城市土地使用權雖然得在所有權國有不變的情形下導引其商品化，但使用價值和交換價值出現難以追求公有制所主張避免剝削的意涵，就此而言，雖然形式上土地所有權仍為國有，而實質上私有化之弊亦難迴免。

This paper investigates the process of privatization of Urban Land Use Rights (ULURs) over the past two decades in the P. R. C. First, I introduce the system of state land allocation and ownership system before 1979. Second, I further examine changes in the terms of "Use value" and "Exchange Value" within the ULURs during the process of privatization. As a result, the conclusion is that privatization of ULURs can in certain ways erode the basic principles of Socialism-to avoid the concentration of benefits and to share the surplus equally.