Today (11th), the Ministry of Natural Resources and the Ministry of Finance jointly issued a notice, clarifying that local government special bonds support land reserves, requiring all localities to give priority to the disposal of the existing idle land list in the land reserve plan, and new land reserve projects that are in demand should also be included in the land reserve plan.
The existing idle land includes real estate land that the enterprise is unable or unwilling to continue to develop, supply uninitiated construction, and other land that meets the conditions for recycling and acquisition.
The two departments require that local natural resources authorities at all levels should give priority to projects with high maturity, strong operationality, significant expected benefits and low risks, and prepare and review project implementation plans to ensure a balanced financing income of land reserve projects using special bonds.
In addition, local financial departments at all levels should do a good job in supervision of the issuance of special bonds for land reserves. For projects approved, provincial financial departments shall arrange the issuance of the best, and rely on the local government debt management information implementation system to conduct full-process supervision.
The two departments require that a land reserve project consists of a single or multiple plots, and the project scope is determined based on factors such as the location characteristics of the plot, implementation period, project income, etc. Special bond funds can be adjusted and used between different plots within the same land reserve project, but based on a single land reserve project, it ensures balanced project financing returns.
(CCTV reporter Tan Zhenhua)
