"提前下达新增地方政府债务限额为2026年地方债早发行、早使用提供支撑。"刘蓉认为，一方面，有助 于"十五五"开局项目储备衔接，各地提前编制预算、做好项目前期工作，保障一季度项目开工与资金需 求，尽快形成实物工作量。另一方面，明确积极财政导向，有利于稳定市场对投资与资金投放的预期。 根据企业预警通数据，截至1月8日，已有北京、河北、山西等27地披露一季度发债计划，总规模约2万 亿元。 ● 本报记者 熊彦莎 1月8日，宁波发行253.72亿元地方债。此前的1月5日，山东发行723.81亿元地方债，成为今年首个发行 地方债的省份。 "'十五五'开局之际，项目储备充足，地方债早发行有助于实现早用款、早见效。"西南财经大学财政税 务学院教授刘蓉在接受中国证券报记者采访时表示，目前已披露的新增专项债重点投向新基建、城市更 新等领域，有利于扩大有效投资、提振内需，以政府投资撬动民间投资，巩固经济回升向好态势，助力 一季度经济平稳开局。 延续靠前发力节奏 财政部此前表示，将尽早提前下达2026年新增地方政府债务限额，便于各地做好与2026年预算编制的衔 接，支持重点项目2026年一季度建设资金需求。 "地方债延续靠前发力节 ...

Core Viewpoint - The Hunan Province Chenzhou City Land Reserve Center has established a professional legal advisory team to enhance legal safeguards in land reserve operations, ensuring a comprehensive legal framework throughout the process [1]. Group 1: Legal Risk Management - The center emphasizes strict contract review and legal document scrutiny as the primary risk prevention measure, submitting over 50 contracts for legal review in areas such as land acquisition and government procurement [2]. - In a significant case involving a company illegally occupying reserve land for over a decade, the center successfully reclaimed the land through arbitration, recovering over 2.29 million yuan in rental losses and 680,000 yuan in penalties [2]. Group 2: Project Development Support - The legal advisory team participates in the entire process of key projects, ensuring compliance with legal standards, including the acquisition of 52.61 acres of state-owned land for a major market redevelopment project, which achieved a transaction value of 464.12 million yuan [4]. - In a litigation case regarding funding disputes, the center minimized financial losses by securing a court ruling that required payment of only 68,880 yuan in interest, significantly less than the claimed amount [4]. Group 3: Community and Social Welfare - The center addresses community needs by resolving disputes related to public services, such as water supply issues, thereby enhancing residents' sense of security and well-being [6]. - The center has resolved over ten community disputes through legal mediation and guidance, demonstrating a commitment to improving public welfare [6]. Group 4: Legal Education and Training - The center conducts specialized legal training for its staff, integrating legal knowledge with practical work to enhance understanding and application of the law [7]. - Future plans include ongoing legal training and knowledge-sharing initiatives to further improve staff legal literacy and compliance capabilities [7].

Core Viewpoint - Ningxia has successfully obtained approval for 1.652 billion yuan in special bonds for land reserves, aimed at enhancing the efficient allocation of land resources and supporting high-quality local economic development [1][2]. Group 1: Bond Approval and Project Details - The approved projects are located in Pingluo County and Yinchuan City, with Pingluo County applying for 172 million yuan to reserve 71.60 hectares of land, while Yinchuan City applied for 1.48 billion yuan to reserve 222.15 hectares [2]. - The implementation of these projects will strengthen the government's ability to regulate the land market and optimize the spatial development pattern of the territory [2]. Group 2: Future Plans and Oversight - The Ningxia Natural Resources Department plans to continue regular project reserves, guide local departments in preparing annual land reserve plans, and enhance project assessment and analysis [2]. - After the issuance of bond funds, the Natural Resources Department will collaborate with the Finance Department to oversee the implementation of land reserve projects and the use of special bond funds, ensuring compliance and protecting the legal rights of land users [2].

Core Insights - Hebei Province has disclosed information regarding the issuance of special bonds, with 4.738 billion yuan allocated for the acquisition of idle land [1] - This issuance marks a significant development for non-"self-examination and self-issuance" pilot regions in the issuance of special bonds for acquiring idle land [1] - According to data from the China Index Academy, as of October 19, the total amount planned for using special bonds to acquire idle land across the country exceeds 620 billion yuan, with nearly 200 billion yuan already issued, accounting for 31% [1] Summary by Categories Special Bonds Issuance - Hebei Province issued special bonds amounting to 4.738 billion yuan for the purpose of acquiring idle land [1] - This is a notable advancement for regions that are not part of the "self-examination and self-issuance" pilot program [1] National Context - The total planned amount for special bonds aimed at acquiring idle land nationwide exceeds 620 billion yuan [1] - Nearly 200 billion yuan of these special bonds have already been issued, representing 31% of the total planned amount [1]

Core Insights - The article highlights the issuance of special bonds in Hebei Province, amounting to 47.38 billion yuan, aimed at acquiring idle land [1] - As of October 19, the total amount of special bonds planned for acquiring idle land across the country exceeds 620 billion yuan, with nearly 200 billion yuan already issued, accounting for 31% [1] - The issuance of these special bonds in Hebei marks a significant development for non-"self-examination and self-initiated" pilot regions [1] Summary by Categories - **Special Bond Issuance** - Hebei Province has disclosed the issuance of special bonds totaling 47.38 billion yuan for the purpose of acquiring idle land [1] - The total planned issuance of special bonds for acquiring idle land nationwide exceeds 620 billion yuan, with close to 200 billion yuan already issued [1] - **Regional Developments** - The provinces that have previously issued special bonds for acquiring idle land were all part of the "self-examination and self-initiated" pilot regions [1] - The recent issuance in Hebei indicates progress for regions that are not part of this pilot program [1]

Core Viewpoint - The newly published "Hainan Province Land Reserve Management Measures" aims to enhance the land reserve management system in Hainan, improve government regulation capabilities in the land market, and support the construction of the Hainan Free Trade Port [1][2]. Summary by Relevant Sections Land Reserve Management - The new measures clarify that there is no need for the first registration of state-owned land use rights and prohibit the registration of real estate mortgages [2]. - The measures emphasize the planning of land reserve work, specifying methods, procedures, and conditions for land acquisition [2]. Cultural Heritage Protection - A mechanism for connecting land reserves with cultural heritage protection has been established, including new archaeological preconditions [2]. Land Management Responsibilities - The measures detail the responsibilities for the management and protection of reserved land, specifying management entities and prohibited actions [2]. Temporary Use Regulations - The regulations improve temporary use provisions, standardizing usage methods and revenue management [2]. Financial Management - The measures regulate land reserve fund management, clarifying budget preparation, fund raising, and revenue distribution [2]. Legal Accountability - New legal responsibilities are set for actions that infringe upon reserved land, including new administrative penalties [2].

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].