Core Insights - The successful sale of 7.97 acres of land in Luzhou City for 1.56 million yuan per acre demonstrates the effective utilization of special bonds to revitalize idle land resources in Sichuan Province [1][3] Group 1: Land Development and Utilization - The land was part of a larger 90.65-acre plot that had remained undeveloped due to various factors, and the county government reclaimed a portion of it from Luzhou Fuyang Investment Group [3] - The county government reached a storage agreement with the enterprise in May and utilized special bond funds to efficiently complete the land reclamation [3] - The land's value significantly increased through optimized planning conditions and enhanced surrounding infrastructure investments [3] Group 2: Economic Impact - The land was sold to Zhang's Orthopedic Hospital, the first private orthopedic specialty hospital in the county with traditional Chinese medicine features, which will fill a gap in professional medical services within a 10-minute living circle [3] - The project is expected to create over 200 direct jobs and indirectly generate more than 300 employment opportunities [3] Group 3: Policy and Management - Sichuan Province has established a comprehensive management system for land reserve projects, including a mechanism for information sharing and collaboration among departments [3][4] - A tiered review mechanism has been implemented to guide the selection and evaluation of idle land reclamation projects, ensuring clarity of ownership and market demand [4][5] - In March, Sichuan became the third province, after Beijing and Guangdong, to officially implement land reserve special bonds [6] Group 4: Financial Aspects - Sichuan has issued a total of 18.666 billion yuan in land reserve special bonds across four rounds, covering 131 projects, with 122 projects focused on reclaiming idle land [7] - The total area involved in these projects is approximately 12,009.90 acres, with 17.487 billion yuan allocated for these initiatives, accounting for 93.68% of the total [7] - As of now, 53 plots covering 3,347.76 acres have been successfully reclaimed, with 4.844 billion yuan of special bond funds disbursed [7]

Core Viewpoint - The pace of public announcements regarding the use of special bonds for land acquisition has significantly accelerated across various regions in China, indicating a growing trend in utilizing special bonds for purchasing idle land [1][2][6]. Group 1: Special Bond Announcements - As of May 20, nearly 3,000 parcels of idle land have been announced for acquisition using special bonds, covering over 133 million square meters and totaling more than 350 billion yuan [1][2]. - The number of announced land parcels increased from 393 in January-February to over 830 in March, and more than 1,500 in April, with total amounts exceeding 1,000 billion yuan in March and 1,700 billion yuan in April [2][3]. 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 650 billion yuan, followed by Henan and Fujian with amounts exceeding 300 billion yuan [2][3]. - In cities, Zhengzhou tops the list with a proposed acquisition amount of 173.5 billion yuan and over 5 million square meters of land, while Xi'an and Huizhou also have significant proposed amounts exceeding 100 billion yuan [2][3]. Group 3: Special Bond Issuance - As of May 20, the total amount of special bonds issued for acquiring idle land in regions like Guangdong, Hunan, and Fujian is close to 55 billion yuan, accounting for 15% of the total proposed acquisition amount [5][6]. - Guangzhou leads in bond issuance with over 60 billion yuan, while second-tier cities like Changsha and Ningbo have issued 38.1 billion yuan and 13.2 billion yuan, respectively [5][6]. Group 4: Future Outlook - Experts believe that the actual issuance of special bonds remains relatively small compared to the announced amounts, with only five provinces having issued bonds for idle land acquisition, suggesting a potential acceleration in future bond issuances [6].

Core Viewpoint - The pace of public announcements regarding the use of special bonds for land acquisition has significantly accelerated across various regions in China, indicating a proactive approach to address idle land issues and stimulate economic activity [1][4]. Group 1: Special Bonds for Land Acquisition - As of May 20, nearly 3,000 parcels of idle land have been publicly announced for acquisition using special bonds, covering an area of over 133 million square meters and totaling more than 350 billion yuan [2][4]. - The number of publicly announced land parcels increased significantly in March and April, with March seeing over 830 parcels (an increase of more than 460 from February) and April exceeding 1,500 parcels, surpassing the total from January to March, with a total amount exceeding 1,700 billion yuan [3][4]. Group 2: Regional Insights - Among the 31 provinces and cities, 23 have announced plans to use special bonds for land acquisition, with Guangdong leading at over 65 billion yuan, followed by Henan and Fujian with amounts exceeding 30 billion yuan [4]. - In major cities, first and second-tier cities accounted for 476 parcels with a total amount exceeding 91 billion yuan, representing 25.6% of the total [5]. Group 3: Future Issuance of Special Bonds - The total amount of special bonds issued for the acquisition of idle land in regions like Guangdong, Hunan, and Fujian is close to 55 billion yuan, accounting for 15% of the total planned acquisition amount [6]. - Major cities such as Guangzhou have issued over 6 billion yuan in special bonds, while second-tier cities like Changsha and Ningbo have issued amounts of 3.81 billion yuan and 1.32 billion yuan, respectively [6]. Group 4: Expert Analysis - According to Chen Wenjing, a policy research director at the China Index Academy, the acceleration in public announcements for special bonds since April is notable, but the actual issuance remains relatively small, with only five provinces having issued bonds for idle land acquisition, amounting to less than one-fifth of the announced amounts [7].

Core Viewpoint - The pace of public announcements regarding the use of special bonds for acquiring idle land has significantly accelerated across various regions in China, with nearly 3,000 parcels of land totaling over 1.33 million square meters and exceeding 350 billion yuan in total value as of May 20 [1][4]. Group 1: Public Announcements and Statistics - As of May 20, the total number of publicly announced parcels for acquisition using special bonds is close to 3,000, covering an area of over 1.33 million square meters and a total value exceeding 350 billion yuan [1][4]. - In March, the number of announced parcels increased by over 460 compared to February, with March's total exceeding 830 parcels and a total value of over 1,000 billion yuan [2][4]. - April saw over 1,500 parcels announced, surpassing the cumulative total from January to March, with a total value exceeding 1,700 billion yuan [2][4]. Group 2: Regional Insights - Among the 31 provinces and cities, 23 have announced plans to use special bonds for acquiring idle land, with Guangdong province leading with a total announced value exceeding 650 billion yuan [4]. - In terms of individual cities, Zhengzhou has the highest proposed acquisition amount at 173.5 billion yuan, covering over 5 million square meters [5]. - The total number of announced parcels in first and second-tier cities is 476, with a proposed acquisition amount exceeding 910 billion yuan, accounting for 25.6% of the total [6]. Group 3: Special Bond Issuance - As of May 20, the total amount of special bonds issued for acquiring idle land in regions like Guangdong, Hunan, and Fujian is close to 550 billion yuan, representing 15% of the total proposed acquisition amount [7][8]. - Guangzhou leads in bond issuance with over 60 billion yuan, while second-tier cities like Changsha and Ningbo have issued 38.1 billion yuan and 13.2 billion yuan, respectively [7]. - The issuance of special bonds has been relatively small compared to the announced amounts, with only five provinces having issued bonds for acquiring idle land, amounting to less than one-fifth of the announced total [8].

Core Viewpoint - The article highlights the acceleration in the use of special bonds for acquiring idle land across various provinces in China, indicating a significant increase in both the number of projects and the total monetary value involved [1][4][9]. Group 1: Special Bonds for Idle Land Acquisition - As of May 20, nearly 3,000 projects have been publicly announced for using special bonds to acquire idle land, covering over 133 million square meters and totaling more than 350 billion yuan [1][4]. - The number of publicly announced land parcels increased significantly in March, with over 830 parcels announced, which is an increase of more than 460 from February, and the total monetary value exceeded 1,000 billion yuan [2][4]. - In April, the number of announced parcels surpassed the cumulative total from January to March, with over 1,500 parcels and a total value exceeding 1,700 billion yuan [2][4]. Group 2: Regional Insights - Among 31 provinces and cities, 23 have announced plans to use special bonds for acquiring idle land, with Guangdong leading at over 650 billion yuan in proposed acquisitions [4][5]. - Zhengzhou has the highest proposed acquisition amount at 173.5 billion yuan, with over 5 million square meters of land [5]. - In first and second-tier cities, a total of 476 parcels have been announced, with a proposed acquisition amount exceeding 910 billion yuan, accounting for 25.6% of the total [6]. Group 3: Special Bond Issuance - As of May 20, the total amount of special bonds issued for acquiring idle land in regions like Guangdong, Hunan, and Fujian is close to 55 billion yuan, representing 15% of the total proposed acquisition amount [8][9]. - Guangzhou leads in bond issuance with over 60 billion yuan, followed by second-tier cities like Changsha and Ningbo [8]. - The issuance of special bonds has been relatively slow, with only five provinces having issued bonds that are less than one-fifth of the announced amounts [9].

Core Viewpoint - The use of local government special bonds to recover and purchase idle land is a significant measure to stabilize the real estate market in 2023, with various regions actively promoting this initiative [1][3]. Group 1: Special Bonds and Land Recovery - As of April 10, 2023, approximately 850 plots of idle land have been publicly announced for recovery using special bonds across Guangdong, Sichuan, Fujian, and Hunan, totaling 128.2 billion yuan [1]. - In March 2023, the pace of public announcements for land recovery accelerated significantly, with 511 plots announced, an increase of 217 from February, and a total amount of about 68.4 billion yuan, reflecting a month-on-month growth of 29% [1][3]. - The issuance of special bonds for land recovery has already been completed in Guangdong, Sichuan, and Hunan, with a combined issuance amount of approximately 40.2 billion yuan for 166 projects [3]. Group 2: Policy and Mechanism - The Ministry of Natural Resources and the Ministry of Finance issued a notice in early March 2023 to clarify the requirements for bond issuance and the entities responsible for fund usage, aiming to streamline the approval process for special bonds [1][2]. - The notice emphasizes prioritizing the inclusion of idle land from the disposal list into land reserve plans, which is expected to promote regional development and stabilize land prices, thereby supporting downstream housing prices [3]. Group 3: Challenges and Future Outlook - Despite the progress, challenges remain in the implementation of special bonds for land recovery, including unclear bond quotas, difficulties in determining purchase prices, and a limited variety of purchasing entities [4]. - It is anticipated that other pilot regions for "self-examination and self-issuance" of special bonds, such as Fujian, Zhejiang, and Shandong, will accelerate their bond issuance for land recovery [4].

其中，广东、四川、湖南均已完成部分专项债发行，合计发债金额约402亿元。各城市中，广州发行专 项债金额超60亿元，位居各城市首位，二线城市长沙发行26.3亿元、成都发行2.8亿元，一二线城市合计 发行89.6亿元，占总发行金额的22.3%。 展望未来，业内人士预计，专项债收购存量闲置土地的配套政策将继续完善，各地发债节奏有望进一步 加快。 3月各地公示总金额环比增长29% 根据中指研究院不完全统计，截至4月10日，全国各地公示拟使用专项债收回收购存量闲置土地的数量 约850宗，总面积超4000万平方米，总金额达1282亿元。 从不同月份来看，今年1—2月各地公示地块数量合计319宗，总金额接近550亿元，3月各地公示节奏明 显加快，合计公示地块511宗，较2月增加217宗，总金额约684亿元，环比增长29%。 从不同地区来看，31个省市中有14个省市公示拟使用专项债收购存量土地情况，其中，广东省公示拟收 储总金额已接近500亿元，位居第一；湖南、福建、四川、广西公示金额均超100亿元。各城市中，惠州 拟收储价格127.5亿元，居各城市首位，柳州、天津、广州拟收储价格均超70亿元；一二线城市公示地 块合计102 ...

Core Viewpoint - The article discusses the recent notice issued by the Ministry of Natural Resources and the Ministry of Finance regarding the use of local government special bonds to support land reserves, outlining specific requirements for bond issuance and fund usage. Group 1: Bond Issuance Requirements - The notice specifies that land reserve projects applying for special bonds must be included in the land reserve plan and have a corresponding identification code in the national land asset management information system [1] - Local governments are encouraged to prioritize the inclusion of idle land from existing inventories into the land reserve plan, while new land reserve projects with genuine demand should also be included [1] Group 2: Project Approval and Management - The notice mandates the improvement of the special bond application and approval process, requiring local natural resource departments to select projects that are mature, operationally feasible, and have significant expected benefits [2] - Local fiscal departments are tasked with overseeing the issuance and management of special bonds for land reserves, ensuring that project financing yields are balanced [2] Group 3: Financial Balance and Supervision - The notice emphasizes the need for comprehensive financial and yield balance, stating that special bond issuance and usage must strictly correspond to specific projects [3] - Local governments are responsible for ensuring the authenticity, compliance, and legality of projects, with strict supervision to prevent misuse of bond funds [4] - Annual reports on the issuance, usage, repayment, and progress of special bonds for land reserves must be submitted to the relevant ministries [4]