w88 mobile bond issuance exceeded one trillion yuan in the first quarter. How to make efforts?
(Source: Xinhua News Agency, China Government Network 2020-04-03)
Xinhua News Agency, Beijing, April 3. Question: The issuance of w88 mobile bonds exceeded one trillion yuan in the first quarter. How to make efforts?
1.08 trillion yuan—this is the issuance scale of new local government w88 mobile bonds in my country in the first quarter. As a major driving force of proactive fiscal policies, since this year, w88 mobile bonds have accelerated the expansion and optimized investment directions, and funds have been accelerated into major projects, driving the expansion of effective investment and playing a positive role in coordinating epidemic prevention and control and economic and social development.
Expansion and acceleration: w88 mobile debt scale exceeded one trillion yuan in the first quarter
The latest set of data released by the Ministry of Finance highlights the intensity of w88 mobile bond issuance this year:
A larger scale - On the basis of the 1.29 trillion yuan of new w88 mobile bond quotas that have been issued in advance, it has been decided to issue another batch of w88 mobile bond quotas in advance. The scale of new w88 mobile bond bonds issued in advance this year will exceed last year.
Faster issuance - As of the end of March, 1.08 trillion yuan of new w88 mobile bonds have been issued in various places, with the issuance scale increasing by 63% year-on-year. It is expected to complete the set issuance tasks about 2.5 months ahead of schedule.
Use faster - As of the end of March, 825.5 billion yuan of new w88 mobile bonds issued by various places were used in projects, accounting for 77% of the issuance amount.
“The issuance of w88 mobile bonds and the use of funds are further advanced, which is conducive to increasing macroeconomic policy adjustments and playing an early role in hedging the impact of the epidemic.” Vice Minister of Finance Xu Hongcai said at the press conference of the State Council’s Joint Prevention and Control Mechanism on the 3rd.
Judging from the issuance situation, the average issuance period of new w88 mobile bonds this year is 14.5 years, of which long-term bonds of 10 years and above account for 86%. Compared with previous years, the period is more reasonable and more consistent with the actual term of the project.
“The issuance of w88 mobile bonds exceeding one trillion yuan is an important manifestation of proactive fiscal policy.”Mao Jie, a professor at the w88 casino, said that the scale of the new batch of special bonds to be issued is expected to be between 800 billion yuan and 1.1 trillion yuan, which will further promote investment, stabilize expectations, and increase confidence.
Powerful and effective: providing "ammunition" for the construction of major projects
In late February, my country’s first local government w88 mobile bond for natural gas storage and peaking shaving projects, the Qinghai Province Gas Storage and Peaking w88 mobile Bond (Phase I), was successfully issued with a scale of 530 million yuan. It will be used for the construction of natural gas storage and peaking projects in Haidong City, Hainan Tibetan Autonomous Prefecture and Hainan Mongolian Tibetan Autonomous Prefecture.
Since the beginning of this year, w88 mobile bonds have focused on infrastructure construction, focusing on promoting projects that have quick results and can be started as soon as possible to ensure effective investment.
“All the new w88 mobile bonds issued by various places this year will be used for the construction of major infrastructure projects in the fields of transportation, ecological environmental protection, agriculture, forestry, water conservancy, municipal administration, and industrial parks.” Xu Hongcai said that as of the end of March, the scale of w88 mobile bonds used for capital of eligible major projects in various places was about 130 billion yuan, actively stimulating social capital and expanding effective investment.
Relocation and expansion of hospital campuses, construction of medical care centers, improvement of service capabilities... In Anhui Province, 37 hospital construction projects including Fuyang Cancer Hospital have received strong support from w88 mobile debt funds.
“Anhui Province has issued two batches of local government w88 mobile bonds.” The relevant person in charge of the Anhui Provincial Department of Finance said that these two batches of w88 mobile bonds involve hospital construction projects, and have given preference in bond quota allocation and fund allocation.
Mao Jie said that the investment direction of w88 mobile bond funds this year has become more "innovative". w88 mobile bonds are no longer seen in land acquisition and storage and real estate-related projects, while medical care, elderly care, ecological environmental protection, park development, education and other fields have increased the support of w88 mobile bonds. "This will not only promote stable investment and expand domestic demand, but also help make up for shortcomings, benefit people's livelihood, and promote high-quality economic development."
Optimization of investment direction: can be expected to drive more effective investment
Based on the trillions of yuan issued in the first quarter, w88 mobile bonds are about to be “expanded” again. Where will the new batch of w88 mobile bonds be used? What role will it play?
“This arrangement is determined based on factors such as the 2020 budget arrangement, actual local project construction needs, and the progress of w88 mobile bond issuance and use.” Xu Hongcai said that the investment direction of w88 mobile bond funds will be further optimized to reflect the needs of epidemic prevention and control and changes in demand in the investment field:
——Continue to focus on the construction of projects in seven major fields, including transportation infrastructure, energy projects, agriculture, forestry and water conservancy, ecological and environmental protection projects, people's livelihood services, cold chain logistics facilities, municipal and industrial park infrastructure;
——In combination with epidemic prevention and control and changes in investment needs, appropriately optimize investment directions, list major national strategic projects separately and focus on support;
——Increase the area of renovation of old residential areas in cities and towns, and allow local governments to invest in municipal facilities projects such as emergency medical treatment, public health, vocational education, and urban heating and gas supply;
——Accelerate the promotion of "new infrastructure" such as 5G networks, data centers, artificial intelligence, logistics, and the Internet of Things.
Xu Hongcai said that in the next step, the proportion of capital used for qualified major projects will be appropriately increased to further stimulate social capital to increase investment. The Ministry of Finance has worked with relevant departments to guide and urge local governments to prepare in advance, and the new batch of w88 mobile bonds is expected to form a physical workload as soon as possible.
While giving better play to the role of w88 mobile bonds, it is crucial to strengthen supervision and prevent risks. Mao Jie believes that in the context of complex and severe domestic and international situations and the economy facing greater downward pressure, the pressure on the revenue and expenditure of some local governments will further increase. Therefore, projects must be carefully selected, project expenditures and income estimates must be done, and no "rush" can be achieved.
In this regard, Xu Hongcai said that when selecting and reviewing w88 mobile bond projects, various local departments must ensure that the bond projects are qualified and compliant, meet the w88 mobile bond management conditions, and have a balanced financing income plan; they must follow the penetrating supervision requirements of w88 mobile bonds, track the issuance and use of w88 mobile bonds throughout the process, and immediately rectify and implement problems once problems are discovered.
Attached original text link:
http://www.gov.cn/xinwen/2020-04/03/content_5498834.htm
