Intensive release of special debt issuance and savings plans in the second quarter welcomes explosive growth.

Since the second quarter, the scale of land earmarked for special bond storage released by local governments has seen explosive growth. According to incomplete statistics from the Ke Rui Research Center, in April, the area of land earmarked for special bond storage announced by local governments reached 7,198 hectares, involving an amount of 173 billion yuan, both of which exceed the total in the first quarter. As of May 13th, a total of 171 cities nationwide have announced plans to use special bonds for land storage, with a total storage amount of 391.8 billion yuan, explicitly involving the storage of residential land covering 6,565 hectares. According to calculations by the Ke Rui Research Center, if the announced residential land storage scale is implemented as scheduled, it is equivalent to at least a 54% year-on-year increase in the area of new house transactions in the first four months of 2025, reducing the national new housing turnover period by more than 2 months. Industry insiders believe that the special bond storage policy has entered a phase of intensive release and recommend that local authorities further optimize and promote it to turn more "proposed storage" into "actual storage". At the same time, it is suggested to refine the data on special bond storage plots, accurately identify the gradient changes in inventory pressure in different city districts, and comprehensively improve the precision and operability of city-specific policies.