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Original title: The National Development and Reform Commission will send a list of special debt preparation projects to local governments, and the issuance of new special debt will begin.
Author: Yang Jin
On March 18, the Hubei Province Finance Department released relevant materials about “Hubei Provincial Government Special Bonds (I-9) 2021” on the China Bond Information Network.
The materials show that Hubei province plans to bid for the issuance of 15 billion new special bonds on March 25, and the 15 billion bonds are mainly invested in infrastructure areas such as shed reform, railways, hospital construction. and rail transit.
This means that the issuance of new special bonds will begin in 2021 and more provinces will be added to the issuance in the future.
The journalist learned that in early March, the Ministry of Finance had issued some new special bond installments of 1.77 billion yuan in advance in accordance with the procedures, and asked local governments to match the special bond installments to specific projects as soon as possible. . According to this year’s government work report, the new installment of special debt this year amounts to 3.65 billion yuan, and the new installment of special debt already issued in advance represents about 49% of the total.
The reporter also learned that in mid-March, the National Development and Reform Commission had already fed back the list of special bond preparation projects for 2021 to local governments. Some localities require that the projects on the list of prepared projects be prioritized for issuance of the projects within the region’s special debt limit.
This year’s budget report revealed that the new special bond deals were 3.65 trillion yuan, 100 billion yuan less than the previous year. The main reason is that the scale of special bonds that have been issued is relatively large and the effects of the policies will continue to be issued this year. Properly downscaling the new special bonds will also help prevent local government legal debt risks.
The budget report also requires that local government special bonds be used well, that high-quality project reserves are strengthened, and that the issuance term be appropriately relaxed in accordance with the “funds follow the project” principle, the structure of the bond issuance period should be optimized, the scope of use should be reasonably expanded, and construction in progress should receive priority support. Don’t blindly pile up debts to distribute them.
In February this year, the regulatory authority issued a notice requesting local governments to resolve the demand for funds for special bonds this year. According to regulatory requirements, this year’s special debt will be mainly used for transportation infrastructure, energy projects, agriculture, forestry, water conservation and ecological environmental protection projects, social enterprises, urban cold chain logistics facilities and rural, municipal and industrial park infrastructure, large national strategic projects and affordable housing projects.
Among them, the field of affordable housing projects includes three types of old community rebuilding, affordable rental housing, and slum rebuilding. This means that this year’s special debt can continue to invest in shed reform projects, primarily to support the completion of projects under construction, and moderate support for new projects.
In addition, regulatory authorities require that this year’s special bond projects not be processed for land reserve projects other than the construction of rented houses, general real estate projects and industrial projects will not be organized. In other words, this year’s special debt can be invested in land storage projects for the construction of rental housing.
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Editor-in-Chief: Zhang Mei
