The use of local government special bonds (hereinafter referred to as "special bonds") funds to collect and store idle land is accelerating. Since February, many cities including Zhuhai, Huizhou, Chaozhou, and Jiangmen have issued public notices on the use of special bond funds to recover and acquire idle land. According to statistics from reporters, as of February 11th, more than 100 plots of land are planned to be collected and stored using special bonds in various regions, with a total planned acquisition price of over 26 billion yuan. Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, stated that in recent times, many places have been using special bond funds to collect and store land with a fast pace and wide coverage, which has a positive effect on the digestion of local stock land. In November 2024, the Ministry of Natural Resources issued a notice on the use of local government special bond funds to recover and purchase idle land, providing policy basis for promoting the collection and storage of idle land through special bonds in various regions. The "List of Prohibited Projects for Local Government Special Bonds" released by the General Office of the State Council in December 2024 clearly allows special bonds to be used for land reserves, supports urban governments to recover eligible idle stock land, and can also be used for new land reserves in areas with demand. After the issuance of the above documents, relevant departments in multiple regions have accelerated the use of special bonds to collect and store idle land, and issued announcements related to land collection and storage. On February 11th, the Changsha Natural Resources and Planning Bureau issued a notice on the collection of funds from local government special bonds for the recovery and acquisition of idle land. The notice clearly stated that the intention to recover land and the timing arrangement will be determined in accordance with policy requirements, taking into account market demand, land conditions, and other factors. The land will be included in the land reserve plan in batches, and priority will be given to applying for projects using local government special bond funds to recover idle land in 2025. In addition, several cities such as Zhongshan and Huizhou have confirmed the planned acquisition of idle land projects and the proposed acquisition prices, and have made relevant information public. For example, on February 7th, the Zhuhai Natural Resources Bureau released the "Announcement on the Land Acquisition and Storage Prices for the First Batch of Local Government Special Bond Projects Applied for Land Reserve in Zhuhai in 2025", which showed that Zhuhai plans to acquire and store 14 plots of land, with a total acquisition and storage price exceeding 6.6 billion yuan. The reporter found that the land parcels that have been publicly announced for collection and storage in various regions include residential land, commercial land, tourism land, and other purposes. Li Yujia, Chief Researcher of Guangdong Housing Policy Research Center, told reporters that the storage prices of most of the proposed land parcels currently publicized are lower than the original transfer prices, with discounts ranging from 70% to 90%, in accordance with the requirement of the "Notice" that "land reserve agencies entrust registered land valuation agencies to conduct land market price evaluations on the proposed land parcels to be reclaimed, and determine the basic price of land acquisition at a lower price compared to the land cost of enterprises". Optimizing the market supply and demand relationship and using special bond funds to recover and acquire idle land is a key measure to reduce the scale of market stock land, improve the land supply and demand relationship, and promote the stabilization of the real estate market. What impact will the implementation of this work bring? Yan Yuejin stated that relevant work helps to efficiently promote the revitalization of existing land and has a positive effect on the balance of supply and demand in the land market. In addition, the collection and storage of idle land in stock is also beneficial for relevant real estate companies to improve their financial situation and "go into battle lightly". The gradual implementation of using special bond funds to collect and store land is conducive to optimizing the supply and demand relationship in the real estate market Li Yujia stated that currently, most of the land parcels planned for acquisition and storage in various regions are owned by state-owned enterprises and urban investment companies, mainly because these projects have clear asset liability relationships and are easy to operate. (New Society)