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The amount to be invested and the timing of clearcutting are central concerns in timber production. To assess the impact of the initial planting density on optimal economic rotation, we explicitly included the distribution of stand diameter classes and price differences representing the quality of stumpage in a model of forest land expected value (LEV). We selected five initial planting densities of 35-year old China fir (Cunninghamia lanceolata (Lamb.) Hook) plantations to fit the distribution of diameter classes along with stand age using a three-parameter Weibull theoretical growth model and then the Faustmann formula was used to calculate LEVs under different conditions. We found that the difference in the values of the growth rate of the stand volume and the discount rate affected the direction of the impact of initial planting density on the optimal economic rotation. If the value of the growth rate of the stand volume exceeded that of the discount rate, then the initial planting density had a negative impact on optimal economic rotation and vice versa. In addition, the quality effect, which means the shift in diameter class to a higher value attributed to the initial planting density, determined the extent of the impact of the initial planting density on the optimal economic rotation. The proportion of large-sized timber increased at a faster pace in accordance with the age of the stand in stands where the planting density was low compared with the proportion of such timber in stands with a higher initial planting density. The corresponding net stumpage price difference resulted in significant differences in LEVs. We concluded that a low-density stand of China fir was a preferred planting option for obtaining the highest LEV.

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Impact of Initial Planting Density on the Optimal Economic Rotation of Chinese Fir (Cunninghamia lanceolata (Lamb.) Hook) in an Experimental Forest Plantation