"His cherished personal treasure."
Brings up images of a treasure chest full of gold.
It is God talking about YOU.
In this passage there are many rules and regulations. Underlying it all is that God loves His people. He wants the best for them.
There is to be prosperity, and generosity, justice, fairness and mercy. After 7 years all debts are to be forgiven. No one should be poor among them.
4 -6 "There must be no poor people among you because God is going to bless you lavishly in this land that God, your God, is giving you as an inheritance, your very own land. But only if you listen obediently to the Voice of God, your God, diligently observing every commandment that I command you today. Oh yes—God, your God, will bless you just as he promised."
They are to lend to others, but never borrow, because God is going to prosper them.
"You will lend to many nations but won't borrow from any; you'll rule over many nations but none will rule over you."
Their gifts and sacrifices to God are to be from the first, and from the best, that they have.
Underlying it all, is this truth.
They were "His cherished personal treasure."