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Using stakeholder survey, documentation and policy analysis, through the survey of stakeholders, this paper aims to explore the problems in the collectively owned land requisition compensation system and their causes, and put forth the reform ideas and measures to provide a reference for the development of new urbanization. The results show that there are some problems in the current land requisition compensation system, such as improper land requisition compensation standard and calculation method, low compensation standard, unsound social security system, irrational compensation and placement methods and low satisfaction of farmers whose land is requisitioned. Therefore, it is necessary to accelerate the reform of land requisition compensation system and smooth progress of new urbanization construction in accordance with the requirements of 3rd Plenum of the 18th Communist Party of China (CPC). [ABSTRACT FROM AUTHOR]