Abstract: With the encouragement and guidance of national policy,more and more industrial and commercial capital invested into agricultural sector in China,which not only promote the development of modern agriculture, but also brings enclosure, predatory operation, destruction of arable land and ecological risks. We must strengthen its risk prevention while leading industrial and commercial capital to invest in agriculture. In addition to improving on the entrance and supervision regulations for industrial and commercial capital leasing farmland, we should also establish an exit mechanism for industrial and commercial capital investment in agriculture, which guides the industrial and commercial capital entering the non-direct production processes in agriculture, to reduce the social cost after mismanaged capital exit agriculture. This paper builds the exit mechanism for industrial and commercial capital investment in Chinese agriculture from four aspects:Voluntary exit incentive mechanism to encourage industrial and commercial capital exit the directly production chain into agricultural secondary and tertiary sectors; Reconstruction and disciplinary punishment mechanism to reform those unscrupulous companies which endanger food security, harm the interests of farmers, destroy land ecological; Exit cost accounting mechanism to measure and calculate exit costs of land reclamation and farmers or other stakeholders, in order to protect arable land and the interests of farmers; Information disclosure and reputation mechanism to disclose and warn the anomie behavior of industrial and commercial capital investment in agriculture, establish credit files of industrial and commercial capital investment in agriculture, in order to reduce and prevent market risks. Effective exit mechanism for Industrial and commercial capital investment in agriculture need for coupling the four coordination mechanisms to promote the healthy development of Chinese agriculture, achieve the win-win situation for stakeholders.

Key words: industrial and commercial capital, agriculture, land, exit mechanism, land circulation