稳楼市更进一步 土储专项债发行或提速

Core Viewpoint - The issuance of special bonds for land reserves is accelerating, significantly aiding the land acquisition process and contributing to the stabilization of the real estate market [1][4]. Group 1: Special Bonds Issuance - Ningbo City has listed special bonds for land reserves with a total issuance amount of 4.339 billion yuan, marking a significant step in the acceleration of land reserve bond issuance [1]. - As of May 27, 171 cities have announced land acquisition plans, with a total acquisition amount of 391.8 billion yuan, involving 6,565 hectares of land [1][2]. - The issuance of land reserve special bonds has become a major growth point in supporting the real estate sector, with Zhejiang Province issuing a total of 19.187 billion yuan for various projects [3]. Group 2: Regional Focus - Among the 31 provinces and municipalities, 23 have announced plans to use special bonds for land acquisition, with Guangdong Province leading at over 65 billion yuan [1][2]. - The majority of land acquisition plans are concentrated in third and fourth-tier cities, which account for 84% of the total planned acquisition area [2]. - Cities like Zhengzhou and Chongqing are highlighted for their significant potential land inventory, necessitating faster land acquisition processes [2]. Group 3: Market Implications - The acceleration of land reserve special bonds is seen as a crucial measure to alleviate liquidity pressures on local governments and real estate companies [3][4]. - The current issuance of land reserve special bonds is still below market expectations, with only 123.6 billion yuan issued by May 25, representing 8.4% of the total issuance [3]. - There is an expectation for the scale of land reserve special bonds to expand further in the second half of the year, with potential adjustments to acquisition amounts [4].