Ministry of Natural Resources: Actively use funds from local government special bonds to increase efforts in reclaiming and purchasing idle land.

On November 11th, the Ministry of Natural Resources issued a notice on the use of local government special bonds to reclaim and purchase idle land. The use of special bond funds to reclaim and purchase idle land is a key measure to reduce the scale of market idle land, improve the supply and demand relationship of land, enhance the liquidity of local government and enterprise funds, and promote the stabilization of the real estate market. All regions should raise their political positions, take proactive actions, actively screen land parcels and reserve projects, promote the rapid implementation of special bond funds, and ensure standardized operations, clear regulations, strict management, and precise efficiency. Priority should be given to reclaiming and purchasing residential and commercial land that enterprises are unable or unwilling to continue developing, as well as land that has been supplied but not yet developed. Other land, such as land entering judicial or bankruptcy auction procedures, land needed to be reclaimed due to inefficient use or infrastructure development, and parts of land parcels already under development but temporarily not built upon according to the plan, can also be included in the reclamation and purchase scope. The original text is as follows: Notice from the Ministry of Natural Resources on the Use of Local Government Special Bonds to Reclaim and Purchase Idle Land To the natural resources authorities of provinces, autonomous regions, municipalities directly under the Central Government, and the Natural Resources Bureau of Xinjiang Production Construction Corps: In order to implement the decisions and arrangements of the Party Central Committee and the State Council, control the increase, optimize the existing stock, and improve the quality, support the revitalization of idle stock land, further promote the implementation of the "Notice on the Implementation of Several Policy Measures for Proper Disposal of Idle Stock Land" (Natural Resources Development [2024] No. 104), actively use special local government bond funds to increase efforts in reclaiming and purchasing idle land, promote the stable and healthy development of the real estate market, the following matters are hereby notified: 1. The use of special bond funds to reclaim and purchase idle land is a key measure to reduce the scale of market idle land, improve the supply and demand relationship of land, enhance the liquidity of local government and enterprise funds, and promote the stabilization of the real estate market. All regions should raise their political positions, take proactive actions, actively screen land parcels and reserve projects, promote the rapid implementation of special bond funds, and ensure standardized operations, clear regulations, strict management, and precise efficiency. 2. The use of special bond funds to reclaim and purchase land should be specifically implemented by the land reserve institution included in the management list. The reserve land parcels in the land reserve projects corresponding to the special bonds must have a reserve land parcel identification code in the national land asset management information system. Land reserve institutions that meet the conditions but have not yet been included in the management list should submit unit information and supporting materials to the system's "Land Reserve Institution" module by the end of December 2024. The Ministry will review and update the list in a timely manner according to the procedure. 3. Priority should be given to reclaiming and purchasing residential and commercial land that enterprises are unable or unwilling to continue developing, as well as land that has been supplied but not yet developed. Other land, such as land entering judicial or bankruptcy auction procedures, land needed to be reclaimed due to inefficient use or infrastructure development, and parts of land parcels already under development but temporarily not built upon according to the plan, can also be included in the reclamation and purchase scope. 4. The natural resources authorities of cities and counties should rely on the list of idle stock land disposal in the land market dynamic monitoring and supervision system to understand the situation, issue announcements to solicit land reclamation and purchase, determine the intended land parcels and timing for reclamation and purchase based on factors such as enterprise willingness, market demand, and land parcel conditions, and gradually include them in the land reserve plan for priority application of special bonds. The list of idle stock land disposal is the basis for the allocation of special bonds and should be dynamically updated based on the situation of reclaimed and purchased land. 5. Land reserve institutions should commission accredited land appraisal institutions to conduct land market price assessments on the intended reclaimed and purchased land parcels, determine a base price lower than the enterprise land cost. The coordination mechanism for the disposal of idle stock land in cities and counties or the land transfer coordination decision-making body should collectively decide on the extent of the price reduction based on market conditions, contract performance, etc. After reaching a consensus with the land user and publicly settling any objections, it should be approved and confirmed by the city or county government. If the reclamation and purchase is not completed within the agreed time frame, the price should be reassessed following the above procedure. 6. The reclaimed and purchased land should not be supplied for real estate development in the same year, unless there is a confirmed need. In such cases, the scale should be strictly controlled, and conditions optimized for implementation. While implementing the "five-category control," the area of land supplied should not exceed 50% of the total area of reclaimed and purchased land for real estate use in that year. The use of reclaimed and purchased land for public welfare and real economy projects is not subject to the aforementioned restrictions. The use of government special bond funds to reclaim and purchase idle stock land involves multiple departments and poses challenges in coordinating interests. The natural resources authorities at all levels should strengthen communication and coordination with relevant departments such as development and reform, finance, judiciary, and taxation to form a collaborative work force. It is necessary to strictly adhere to the red line and bottom line of land policies, properly handle land debt relationships, safeguard the legal rights and interests of land users and mortgagees, and prevent integrity and moral risks. The requirements related to special bond quotas, use, and management must be implemented in accordance with relevant regulations. Ministry of Natural Resources November 7, 2024 This article was selected from the "Official website of the Ministry of Natural Resources," edited by GMTEight: Chen Xiaoyi.