拟回购金额超3500亿元！各地加速专项债“收地”

Core Viewpoint - The implementation of special bonds by local governments to acquire idle land has accelerated significantly, with a notable increase in the number of proposed acquisitions and total monetary value across various regions [1][2][3] Group 1: Special Bonds and Land Acquisition - The Ministry of Natural Resources and the Ministry of Finance issued a notice in March to clarify the use of special bonds for land reserve, detailing the funding subjects, review processes, and balance mechanisms [1] - As of now, various regions have expedited the use of special bonds for land acquisition, with Chongqing's Banan District recovering six idle land plots, contributing to a total of 323 plots covering approximately 22,700 acres and a proposed repurchase amount exceeding 43.5 billion [1] - Nationwide, nearly 3,000 plots have been publicly announced for acquisition using special bonds, totaling over 1.33 million square meters and exceeding 350 billion [1] Group 2: Regional Analysis - Among 31 provinces and cities, 23 have announced plans to use special bonds for land acquisition, with Guangdong leading at over 65 billion, followed by Henan and Fujian with amounts exceeding 30 billion [2] - In cities, Zhengzhou tops the list with a proposed acquisition amount of 17.35 billion and an area exceeding 5 million square meters, while other cities like Xi'an and Huizhou also show significant proposed amounts [2] - The majority of the proposed land acquisitions involve local state-owned enterprises, accounting for over 80%, while central and private enterprises make up less than 20% [2] Group 3: Pricing and Market Dynamics - Approximately 50% of the proposed acquisition prices are between 0.8 and 1.0 times the original transaction price, with a decrease in the proportion of plots priced at 0.9 to 1.0 [2] - Despite the acceleration in public announcements for land acquisition using special bonds, the actual issuance remains low, with only five provinces having issued bonds amounting to less than one-fifth of the announced amounts [3] - The recent interest rate cut by the central bank is expected to lower borrowing costs, potentially leading to an increase in bond issuance and improving the supply-demand relationship in the land market [3]