Circular of the Ministry of Land and Resources, the Ministry of Finance, the People's Bank of China and the China Banking Regulatory Commission on Issuing the Administrative Measures for the Land Reserve

Circular of the Ministry of Land and Resources, the Ministry of Finance, the People's Bank of China and the China Banking Regulatory Commission on Issuing the Administrative Measures for the Land Reserve

Guo Tu Zi Gui [2017] No. 17

January 3, 2018

The land and resources departments and financial departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government and sub-provincial cities; the Land and Resources Bureau and the Financial Bureau of Xinjiang Production and Construction Corps; the Shanghai Head Office of the People's Bank of China as well as all its branches, business management departments, central sub-branches of the provincial (capital) cities and sub-provincial central sub-branches; and the local China Banking Regulatory Commission offices of all provinces, autonomous regions and municipalities directly under the Central Government:

The Ministry of Land and Resources, the Ministry of Finance, the People's Bank of China and the China Banking Regulatory Commission jointly revised the Administrative Measures for Land Reserves (the "Measures") in accordance with the relevant laws and regulations and the relevant documents of the State Council, in order to strengthen and regulate the administration of land reserves. It is hereby issued for your compliance and implementation.

Administrative Measures for Land Reserves

I. General Requirements
1. These Measures are formulated in accordance with the Circular of the State Council on Strengthening the Asset Management of State-Owned Lands (Guo Fa [2001] No.15), the Circular of the State Council on Promoting the Economical and Intensive Use of Land (Guo Fa [2008] No.3), the Opinions of the State Council on Strengthening the Administration of Local Government Debts (Guo Fa [2014] No.43) as well as the Circular of the General Office of State Council on Regulating the Administration of Incomes from and Expenditures for the Assignment of State-owned Land Use Right (Guo Ban Fa [2006] No.100), so as to implement the Party's spirit of the Nineteenth National Congress, implement the requirements of strengthening the management of natural resources assets and guarding against risks, further standardize the management of land reserves, strengthen the government's regulation and support for use of land for urban and rural construction, and facilitate the efficient deployment and proper use of land resources.
2. The term "land reserve" refers to the act of the competent departments of land and resources at or above the county level to obtain land in accordance with laws and organize the early development and storage of land for later supply, in order to regulate the land market and promote the rational use of land resources. The land reserve work shall be under the unified administration of the competent departments of land and resources, and the land reserve institution shall undertake the specific implementation of the land reserve work. The fiscal department is responsible for the supervision of land reserve funds and the assets generated.
3. A land reserve institution shall be a public institution established with the approval of the people's government at or above the county level, having an independent legal person status, subordinate to the administrative division of a land and resources department where it is located and undertaking the land reserve work within its administrative jurisdiction.
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