Abstract: The secured circulation of the right to use ruralhomestead is strictly limited by Chinese policy.According to random sampling and key sample investigations in 190 peasant households in Xinxiang,a rural reform pilot city in Hennan Province,the  farmers’ willingness to use the secured circulation right of rural homestead is very strong.In fact,invisible trade is getting more frequent,obviously embodying economic necessity.Faced with this situation,the government should dredge,but not block the invisible trade,actively promote pilot work of the secured circulation of the right to use rural homestead,innovate institutional management,alert and guard against risks of circulation of the right to use rural homestead.

Key words: rural homestead, secured circulation, willingness investigation, institutional innovation