中指研究院：专项债收地已发行超1500亿元 占拟收储总金额27%

Core Viewpoint - The recovery of idle land through special bonds has become a significant strategy for inventory reduction by both central and local governments in 2023, with ongoing improvements in supporting policies and new progress in the issuance of special bonds [1][2]. Group 1: Public Disclosure of Land Acquisition - As of August 18, over 4,300 cases of proposed land acquisition using special bonds have been publicly disclosed across the country, covering an area of over 22 million square meters and totaling over 550 billion yuan [2][8]. - Guangdong remains the province with the largest proposed acquisition scale, with a total proposed amount of nearly 79 billion yuan [4][9]. - Among the cities, Chongqing leads with a proposed acquisition amount of 53.38 billion yuan and an area of over 1.815 million square meters [4][9]. Group 2: Land Use Types and Ownership - Residential land continues to be the primary focus for acquisition, accounting for approximately 66% of the disclosed cases, with a notable increase in the past two months [5]. - The majority of the proposed land acquisitions belong to local state-owned enterprises, making up about 84%, while private enterprises account for only about 13% [5]. Group 3: Special Bond Issuance - As of August 18, seven provinces, including Guangdong, Hunan, and Anhui, have issued or are about to issue special bonds for land acquisition, totaling over 150 billion yuan, which is only 27% of the proposed acquisition amount [8][9]. - The total amount of special bonds issued for land acquisition is significantly lower than the proposed total, indicating a need for acceleration in the issuance process [10]. Group 4: Future Outlook - The actual issuance scale of special bonds for land acquisition remains low, primarily concentrated in "self-examination and self-issuance" pilot areas, with other provinces needing to speed up their issuance [10]. - If breakthroughs can be achieved in non-pilot areas, it is expected to further boost market expectations and improve the supply-demand relationship in the market [10].