---
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/39233037.md"
description: "【The End of Land Finance】The Ministry of Land and Resources issued a document requiring that local cities can no longer sell land independently; it must be centrally allocated by provincial governments.At the same time, before selling any land, localities must first revitalize existing land stock. No additional land can be sold, and the land sold cannot be used for commercial housing development and construction.PS: An era has completely ended. Real estate has completely become a liability."
datetime: "2026-03-12T16:26:17.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39233037.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39233037.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39233037.md)
author: "[浩浩荡荡](https://longbridge.com/zh-CN/profiles/19784218.md)"
---

> 支持的语言: [English](https://longbridge.com/en/topics/39233037.md) | [繁體中文](https://longbridge.com/zh-HK/topics/39233037.md)


# 【The End of Land Finance】The Ministry of Land and …