National People's Congress Representative and Zhongheng Design Chairman Zhang Jin: Keeping Up with the Times to Build a New Model for Land Development

Securities Times Reporter Zang Xiaosong

At this year’s National People’s Congress, Zhang Jin, a deputy to the National People’s Congress and Chairman and Chief Engineer of Zhongheng Design, based on research and practical experience in Suzhou’s urban renewal and the planning and construction of Suzhou Industrial Park, recommends innovative policies that keep pace with the times to establish a new land development model that safeguards people’s livelihoods and respects urban development laws.

Zhang Jin stated that urban development is like an organic life form or a natural ecosystem, going through the process of “growth—development—adjustment—recycling.” “Just as grasslands need rest from grazing and fishing grounds need rest from fishing, after a period of rapid growth, cities need policy innovation to reconstruct the relationship between development, construction, and land supply to sustain urban vitality.” She proposed specific suggestions accordingly.

For areas like urban villages and shantytowns with no residual development value, support the housing voucher resettlement model using ultra-long-term government bonds, simultaneously digesting existing housing stock and revitalizing the industrial chain. Funding disbursement would replace traditional monetary compensation with a “housing voucher redemption” approach, and a guarantee mechanism for voucher redemption would be improved. Vouchers would be redeemed annually using special government bond funds; if enterprises need early redemption, they could pay interest subsidies to balance part of the bond interest expenses. Zhang Jin believes this measure can solve the problem of insufficient relocation housing, simultaneously absorb market surplus housing, activate related developers and entire supply chains, ultimately benefiting migrant workers, corporate employees, and other groups, injecting momentum into consumption.

Improve the mechanism for temporary land use to address shortcomings in public services. For land parcels after relocation, unless they currently possess high development value, the principle should be “demolish without immediate construction, temporary use.” After necessary pollution testing and remediation, land can be re-appropriated for low-intensity development as temporary land, such as parking lots, parking buildings, temporary commercial facilities, and urban green spaces, filling gaps in public services nearby. Additionally, relevant systems should be improved, diversifying temporary land use models and allowing appropriate extensions of temporary use periods.

Reconstruct the land supply and demand balance and value restoration mechanisms. By digesting surplus housing and moderately reducing land supply, and more importantly, improving urban governance and public service facilities, the land supply-demand relationship can be gradually repaired. As the city’s permanent population steadily grows, land values will eventually rebound. After land appreciation through storage, it can be redeveloped to cover the principal and interest of ultra-long-term government bonds.

Pilot a “white land” flexible market entry mechanism to give core area parcels more development flexibility and attract high-quality social capital. Many urban villages, shantytowns, and dilapidated neighborhoods are adjacent to city centers, with obvious location advantages. In the long run, especially after a period of rest and recuperation, these areas will have enormous development potential. It is recommended to learn from Singapore’s “white land” flexible development strategy, setting limited control indicators for core parcels in line with overall urban planning, and granting flexibility in land use adjustments, allowing changes in land functions within the usage period.

Zhang Jin stated that this cycle development model—focused on safeguarding livelihoods, respecting laws, nurturing vitality, and flexible, orderly development—not only ensures the continuous renewal and growth of cities but also maintains good urban quality and appearance, aligning with the central economic work conference’s requirements to “control growth, reduce inventory, and optimize supply.”