国常会审议通过三北工程规划，重视园林生态及区域标的

Investment Rating - The investment rating for the industry is "Positive" and is maintained [9]. Core Insights - The State Council meeting on August 22 approved the "Three Norths" project overall plan, emphasizing the need to enhance mission and responsibility to solidify the ecological safety barrier in northern China [2][6]. - The "Three Norths" project is a large-scale afforestation initiative aimed at combating sandstorms and soil erosion in the northwest, north, and northeast regions of China, initiated in 1978 and set to conclude in 2050 [6]. - In 2024, the project will receive over 32 billion yuan from special long-term bonds and central government funding, with continued financial support expected in 2025 [6]. - The government plans to issue 1.3 trillion yuan in special long-term bonds in 2025, increasing support for major strategic projects and key areas [6]. - The introduction of new PPP policies is expected to improve order volumes and financial statements for landscaping companies, ensuring the smooth progress of projects [6]. Summary by Sections Event Description - The State Council meeting highlighted the importance of the "Three Norths" project and the need for integrated ecological protection and systematic governance [6]. Event Commentary - The "Three Norths" project is currently in a critical phase, with a focus on enhancing management responsibilities and exploring long-term mechanisms for project sustainability [6]. - The project aims to address significant ecological challenges in the affected regions through a structured approach over multiple phases [6]. Investment Recommendations - The acceleration of the "Three Norths" project, combined with the new PPP policies, presents significant opportunities for landscaping and construction companies, particularly those operating in the "Three Norths" regions [6].