This chapter provides a systematic examination of China’s dual land tenure system and its evolving governance framework, with a focus on the institutional foundations of the “Linkage” Policy. Against the backdrop of rapid urbanization, China’s land governance operates within a unique socialist-market hybrid system characterized by state ownership of urban land and collective ownership of rural land. The existing literature reveals three key dimensions of China’s land governance: (1) institutional ambiguity in rural collective ownership, which enables flexible local adaptation but also fosters stakeholder conflicts; (2) central–local dynamics, where hierarchical quota systems (e.g., cultivated land preservation, construction land allocation, and ecological redlines) interact with decentralized project-based implementation; and (3) government–market–society interactions, wherein marketization reforms (e.g., land-use rights leasing, Three Rights Separation policy) coexist with persistent state control and emerging societal demands for participatory governance. A critical insight from this chapter is that rural land consolidation and commodification—exemplified by the “Linkage” Policy—represent an institutional innovation designed to reconcile China’s dual land systemDual land system. By facilitating TDRTransfer of development rights (TDR) between urban and rural sectors, the policy creates a quasi-market mechanism for land resource allocation while maintaining public ownership. However, its implementation remains constrained by structural ambiguities in property rights, competing central–local objectives, and uneven stakeholder bargaining power.