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China's Natural Resources Ministry urges shift from land finance to spatiotemporal economy
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On September 22, China's Vice Minister of Natural Resources, Zhuang Shaoqin, announced at a State Council Information Office press conference that the ministry is introducing a series of new planning policies and standards to support urban renewal, rural revitalization, and industrial development. These policies aim to expand value space through dimensions such as safe, coordinated, intensive, distinctive, and shared development. The ministry encourages local governments to tap into characteristic resources, revitalize存量 assets, and optimize functional structures to create more vibrant innovative industrial communities, business communities, and high-quality community living circles. The ultimate goal is to shift the driving force of local development from the traditional 'land finance' model to a 'spatiotemporal economy' model, representing a significant strategic adjustment in China's approach to economic growth and land use.
Source report
Natural Resources Ministry Unveils New Planning Policies to Support Urban Renewal and Rural Revitalization
On September 22,庄少勤, Vice Minister of Natural Resources, announced at a press conference held by the State Council Information Office that the Ministry is currently advancing reforms to integrate "multiple plans into one." In particular, the Ministry is strengthening the integration and innovation of planning and resource asset management reforms.
A series of new planning policies and standards have been introduced to support urban renewal, rural revitalization, and industrial development. These policies aim to expand value creation across several dimensions, including:
- Safe development
- Coordinated development
- Intensive development
- Distinctive development
- Shared development
The Ministry encourages local governments to tap into unique local resources, revitalize existing assets, and optimize functional structures. The goal is to create more dynamic, innovative industrial communities, business districts, and high-quality community living circles.
According to the Vice Minister, this shift will help transform the driving force of development from the traditional "land finance" model to a "spatiotemporal economy." (Source: People's Financial News)
Source
国际金融报Eastern
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China’s Natural Resources Ministry Urges Shift from Land Finance to Spatiotemporal Economy