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

This year’s National People’s Congress, NPC delegate and Zhongheng Design Chairman and Chief Engineer Zhang Jin, based on research and combined with 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 natural ecosystem, undergoing a process of “growth—development—adjustment—recycling.” “Just as grasslands need rest periods and fishing grounds require fishing bans, after a period of rapid growth, cities need policy innovation to reconstruct the relationship between development, construction, and land supply, fostering vitality for sustainable urban growth.” She proposed specific suggestions accordingly.

For areas with no retained value for renewal, such as urban villages and shantytowns, support the housing voucher resettlement model with ultra-long-term government bonds, simultaneously absorbing existing housing stock and revitalizing the industrial chain. Funding disbursement would use a “housing voucher redemption” approach instead of traditional monetary compensation, along with improving the housing voucher redemption guarantee mechanism. Vouchers would be redeemed annually using special government bond funds; if companies need early redemption, they can pay interest subsidies to balance part of the bond interest expenses. Zhang Jin believes this measure can solve the shortage of 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 gaps in public services. For land parcels after relocation, unless they already 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 surrounding public services. Additionally, relevant systems should be improved, diversifying temporary land use modes and allowing appropriate extensions of temporary use periods.

Reconstruct the land supply-demand balance and value restoration mechanisms. By absorbing 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 restored. As the city’s permanent population steadily grows, land values will eventually rebound. After land appreciation through re-appropriation, it can be released for development, with its value covering the principal and interest of ultra-long-term government bonds.

Pilot a “white land” flexible market entry mechanism, granting development flexibility for core location parcels to 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 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 and granting flexible land use adjustments within the scope of overall urban planning, allowing changes in land use functions during the usage period.

Zhang Jin stated that this cycle-based development model—focused on safeguarding livelihoods, respecting laws, nurturing vitality, and maintaining flexibility and order—not only ensures the continuous renewal and development of cities but also preserves their quality and appearance, aligning with the requirements of the Central Economic Work Conference to “control growth, reduce inventory, and optimize supply.”