To promote the stabilization of the real estate market, the policy of land acquisition and storage has been further optimized. The Notice on Effectively Utilizing Local Government Special Bonds to Support Land Reserves, jointly issued by the Ministry of Natural Resources and the Ministry of Finance, has recently been officially released, requiring all regions to prioritize the inclusion of land parcels in the list of idle land disposal in their land reserve plans. The Notice aims to leverage the positive role of local government special bonds in stabilizing the economy and promoting development, better support the use of special bonds to carry out land reserve work, and effectively promote the stabilization of the real estate market. The Notice requires that all regions prioritize the inclusion of land parcels in the list of idle land for disposal in the land reserve plan, and new land reserve projects with real demand should also be included in the land reserve plan. Existing idle land includes real estate land that enterprises are unable or unwilling to continue developing, land that has been supplied but has not yet started construction, and other land that meets the conditions for recovery and acquisition. Land supplied after November 7, 2024 is not included in the scope of idle land stock. The special bond funds of local governments used for land reserves can only be used by land reserve institutions included in the list management, implementing dedicated and closed management, and specifically used for land reserve work. The Notice requires the improvement of the application and review process for special bonds, as well as the comprehensive balance between funds and returns. Among them, for non self audit and spontaneous pilot areas, all regions should follow the requirements of Document No. 52 issued by the State Council to make regular project reserves, and the Ministry of Finance and the Ministry of Natural Resources should review and control the special bond projects used for land reserves. For projects that pass the review, provincial finance departments will arrange for their issuance based on merit, and rely on the local government debt management information implementation system for full process supervision; For the pilot areas of "self review and spontaneous", after the land reserve project is reviewed and approved by the provincial people's government, the provincial finance department can organize the issuance of special bonds, and the project list shall be simultaneously reported to the Ministry of Finance and the Ministry of Natural Resources for filing. The Notice also requires provincial finance departments and natural resources authorities to strengthen supervision and spot checks on the implementation of land reserve projects and the use of special bonds. In the third quarter of each year, the issuance, use, fund repayment, and project progress of the special bonds used for land reserve in the previous year shall be jointly reported to the Ministry of Finance and the Ministry of Natural Resources. The Ministry of Finance and the Ministry of Natural Resources conducted random inspections on some key projects. This year, Guangdong fired the first shot of collecting and storing idle land after the Spring Festival. According to incomplete statistics from the China Academy of Sciences, as of February 22, the first batch of land acquisition projects planned to use special bonds announced by multiple cities in Guangdong Province exceeded 220, with a total planned acquisition price exceeding 43 billion yuan. This time, Guangdong Province plans to issue special bonds worth 30.7 billion yuan, accounting for 70% of the proposed acquisition price of previously announced projects. Industry experts told Shanghai Securities News reporters that it is expected that in the first quarter of this year, various regions will gradually follow the "bond issuance and land acquisition" model. Guangdong is the first province in China to fully implement the special bond purchase of existing land, and has become a firm executor of the policy of 'strictly controlling increment, optimizing stock, and improving quality', which has the significance of an industry benchmark Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, stated that acquiring and storing idle land can help improve the supply-demand relationship in the real estate market and the liquidity of related enterprises. (New Society)