Notice on Utilizing Local Government Special Bonds to Support Land Reserve Work
Natural Resources Development [2025] No. 45
Provincial, autonomous region, municipality directly under the central government, and city specifically designated in the state plan, as well as the natural resources and finance departments (bureaus) of Xinjiang Production and Construction Corps:
In order to implement the relevant requirements of the “Opinions of the General Office of the State Council on Optimizing and Improving the Management Mechanism of Local Government Special Bonds” (Guobanfa [2024] No. 52, hereinafter referred to as “Guobanfa No. 52”), give full play to 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 relevant matters are hereby notified as follows.
1、 Clarify the requirements for issuing bonds and the entities using the funds
Land reserve projects applying for the issuance of special bonds must be included in the land reserve plan and have corresponding identification codes in the national land asset management information system. Each region should prioritize the inclusion of land parcels from the list of idle land for disposal in the land reserve plan, and newly added 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.
2、 Improve the application and review process for special bonds
Local natural resource management departments at all levels should organize and plan land reserve projects, prioritize projects with high maturity, strong operability, significant expected benefits, and low risks, prepare and review project implementation plans, demonstrate the feasibility, compliance, and legality of project implementation plans, including inclusion in the list of reclaimed and acquired idle land, inclusion of project implementation entities in the national land reserve institution directory, inclusion in the land reserve plan, land ownership (whether there are mortgages, seals, etc.), balance of project financing income, etc., to ensure that the financing income of land reserve projects using special bonds is balanced, guide and urge relevant parties to timely submit the principal and interest payment funds of special bonds; Cooperate with the finance department to carry out relevant special bond issuance management and other related work, timely provide project information to the finance department, and strengthen the interconnection with the finance department’s information system. Local financial departments at all levels should do a good job in managing and supervising the issuance of special bonds for land reserves.
For non self audit and spontaneous pilot areas, all regions should prepare regular project reserves in accordance with the requirements of Document No. 52 issued by the State Council, 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, the provincial finance department will arrange for optimal issuance 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.
3、 Balancing funds and profits comprehensively
The issuance and use of special bonds for land reserves should strictly correspond to the project. A land reserve project consists of single or multiple plots, and the project scope is determined based on factors such as the location characteristics of the plots, implementation period, and project benefits. Special bond funds can be adjusted and used between different plots of land within the same land reserve project, but on a single land reserve project basis to ensure a balanced financing income for the project. On the basis of evaluating the supply and demand relationship in the local land market, each region should carefully conduct project demand analysis and reasonably determine the issuance period of special bonds for land reserves.
4、 Strict supervision and management
The people’s governments of prefecture level cities and counties should strengthen their main responsibilities, be responsible for the authenticity, compliance, and legality of projects, and under the guidance of provincial finance and natural resources departments, strengthen organizational leadership, standardize implementation, strengthen work guarantees, prudently and prudently use special bonds to support land reserve related work, and shall not repeatedly repurchase special bond funds, causing problems such as idle bond funds and inflated fiscal revenue. They must firmly hold the bottom line of no major risks and effectively protect the legitimate rights and interests of land use rights holders.
Provincial finance departments and natural resource management departments should 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, they should jointly report to the Ministry of Finance and the Ministry of Natural Resources on the issuance, use, fund repayment, project progress, and other situations of the special bonds used for land reserve in the previous year. The Ministry of Finance and the Ministry of Natural Resources conducted random inspections on some key projects.
This notice shall come into effect from the date of issuance. If there is any inconsistency between the relevant content and the “Notice of the Ministry of Finance and the Ministry of Land and Resources on Issuing the Management Measures for Local Government Land Reserve Special Bonds (Trial)” (Caiyu [2017] No. 62), this notice shall prevail.
Ministry of Natural Resources and Ministry of Finance
March 4, 2025