On the basis of systematic review of the course of rural reform in China, this paper points out that at the beginning of the reform, in order to meet the demands of subsistence of farmers, the party and government have gradually accepted farmers’ practices of‘all-round responsibility system’ . After solving the subsistence problem, in order to meet the demands of farmers’ engagement in non-agricultural employment, the party and government gave farmers the rights to free circulation of the contracted land management rights. Nowadays, in order to meet the demands of farmers’ land property rights and interests, the party and government should grant farmers the rights of land equity. The rural land property rights reform shall be aimed at collective ownership by equity. Equity is the foundation of collective economy. In the early stage of reform, for the consensus on reform, clear meaning of land equity was replaced by vague meaning of land contract right. Right now, the result of reform deepening and understanding with times, the vague meaning of land contract right is replaced by clear meaning of land equity.%本文在系统梳理中国农村改革历程的基础上，指出改革初期，为了满足农民的温饱诉求，党和政府逐渐认同了农民推出的“大包干”做法；温饱问题解决之后，为了满足农民外出从事非农就业的诉求，党和政府赋予农民自主流转其承包土地经营权的权利；现在，为了满足农民享有土地财产权益的诉求，党和政府应赋予农民土地股份的权利，将农村集体土地产权按份共有的改革目标落到实处。股权是集体经济的基础。改革初期以含义模糊的承包权替代含义清晰的土地股权，是为了达成改革共识；现在以含义清晰的土地股权替代含义模糊的土地承包权，是改革深化和认识与时俱进的结果。
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