Core Viewpoint - The new policy aims to enhance the effective allocation of industrial and commercial land in Hangzhou, promoting high-quality development in the manufacturing sector through innovative mechanisms and measures [1]. Group 1: Industrial Land Reform - The reform introduces six mechanisms and sixteen measures focused on precise allocation of industrial land, including differentiated supply of commercial land and revitalization of existing space [1]. - In the past three years, Hangzhou has released a total of 37,900 acres of new industrial land, with annual releases consistently above 12,000 acres, increasing the proportion of industrial land from 43% to 64% [2]. - New industrial land will prioritize strategic emerging industries, future industries, and private investment projects, aiming for over 70% concentration of leading industries and 80% private investment [2]. Group 2: Commercial Land Support - The policy introduces a subdivision of commercial land specifically for industrial purposes, aimed at supporting headquarters economy, technology services, and elder care industries [3]. - The allocation of industrial commercial land will be determined based on actual industry development needs, reducing costs for modern service enterprises [3]. Group 3: Mixed-Use Development - The reform allows for temporary changes in building usage and supports phased implementation of redevelopment projects, enhancing the utilization of existing space [4]. - The policy introduces flexible industrial land that can accommodate mixed uses such as logistics, research, and design, adapting to the uncertainties of industry development [4]. - The pricing policy for underground space has been improved, with the first underground level charged at 20% of the above-ground benchmark price, and further reductions for deeper levels [4]. Group 4: Comprehensive Management and Support - A full lifecycle management platform will be established to enhance tracking services across project attraction, land supply, and construction phases, ensuring comprehensive evaluation of industrial land performance [5]. - The government plans to introduce six supporting policies to facilitate the implementation of the industrial and commercial land reform [4][5].

Core Insights - Hangzhou has introduced a new policy to optimize industrial and commercial land use, effective from December 1, aimed at meeting diverse spatial needs of new production forces [1][2] Group 1: Policy Mechanisms - The policy outlines six key mechanisms for land reform: precise configuration of industrial land, classified supply of commercial land, efficient revitalization of existing space, mixed-use land development, paid use of secondary market, and comprehensive tracking service [1] - A focus on project selection is emphasized, with local governments required to establish differentiated project evaluation mechanisms based on quality, layout, land scale, and starting price [1] Group 2: Land Cost Reduction - The policy supports flexible land acquisition methods for industrial enterprises, including options for 50-year leases, flexible terms, and long-term rentals [2] - Local governments can set land price adjustment coefficients, with starting prices for land set at 70% of current industrial land prices for projects aligned with five major industrial ecosystems [2] Group 3: Short-term Land Development - The policy encourages short-term land development for land that has been acquired but not yet supplied, allowing for uses such as transportation hubs, fitness facilities, and logistics [2] - Short-term land use plans must be developed, specifying intended use, duration, and technical indicators, with a maximum usage period of 10 years [2]