Trillions of special anti epidemic treasury bonds are strictly forbidden to be invested in four areas, such as land storage. Local governments will start to pay debts in 2025

category:Finance
 Trillions of special anti epidemic treasury bonds are strictly forbidden to be invested in four areas, such as land storage. Local governments will start to pay debts in 2025


Wen Laicheng, executive director of Zhongcai PENGYUAN local financial investment and Financing Research Institute, told first finance and economics that the special treasury bond funds were strictly forbidden to be used for land reserve and shantytowns reconstruction, reflecting that the state has not relaxed the control over the real estate field. It is a consistent requirement that funds should not be used for political achievements and image projects. Obviously, treasury funds can not be used to pay off local debts. At present, the transformation of local government financing platform companies is slow. Special treasury bonds do not want to be allocated to platform companies to promote their growth and hinder the transformation.

The purpose of the restrictions on the investment direction of special treasury bonds is to make the limited funds really used in the areas in urgent need, so as to form effective investment to stimulate demand, truly play the role of six stabilities and six guarantees , and stabilize the basic economic market. Wen Laicheng said.

Professor Mao Jie of the University of international business and economic cooperation told first finance and economics that special treasury bonds should be used exclusively for infrastructure construction and anti epidemic related expenditures. The above-mentioned prohibited investment fields are in line with expectations. Among them, the reason why they are not allocated to local government financing platforms may be to avoid new hidden debts.

The Ministry of Finance previously disclosed that special treasury bonds were mainly invested in infrastructure construction and anti epidemic related expenditures.

Among them, infrastructure construction is divided into 12 areas, including public health system construction, major epidemic prevention and treatment system construction, transportation infrastructure construction, municipal infrastructure construction, etc. The anti epidemic related expenditure is subdivided into six areas, namely, rent reduction subsidy, loan interest discount for key enterprises, interest subsidy for business guarantee loan, subsidy for supporting enterprises and stabilizing posts, and basic living allowance for the poor.

By the end of June, the local government had received the amount of special national debt for anti epidemic and allocated it to specific projects. For example, Suzhou has obtained 5.06 billion yuan of special treasury bonds, which, according to the purpose of funds, has been used for 2.318 billion yuan of anti epidemic related expenditures, including 226 million yuan for employment, 1.316 billion yuan for basic livelihood, 776 million yuan for market entities, and 2.742 billion yuan for infrastructure construction projects, of which 627 million yuan is invested in public health and the construction of major epidemic prevention and treatment system, and railway The capital of other major infrastructure projects is 670 million yuan, and that of other livelihood infrastructure projects is 1.445 billion yuan.

The Ministry of finance has previously publicly disclosed that the interest of the 1 trillion yuan special anti epidemic treasury bonds is borne by the central government, with the principal of 300 billion yuan to be repaid by the central government and 700 billion yuan by the local finance. At present, the issuance period of special anti epidemic treasury bonds is divided into 5-year, 7-year and 10-year terms, of which 10-year is the main term, and the market is expected to amount to 700 billion yuan, which is exactly what the local government needs to repay.

First finance learned from the local financial figures mentioned above that the local government will repay the principal of the special anti epidemic national debt from 2025, and pay the principal to the central government according to 20% of the total amount of distribution every year, and the repayment will be completed in 2029. If the principal cannot be repaid on time, the provincial finance will deduct the corresponding funds when handling the year-end settlement. At present, the special anti epidemic treasury bonds are included in the direct fund management of the central government, and included in the whole process monitoring of the direct funds monitoring system of the central finance, so as to ensure that the capital accounts are clear, the flow direction is clear, and the funds benefit the enterprises and the people. Some places have made public the use of funds and accepted social supervision. For example, Shanshan County of Xinjiang has invested 237 million yuan of special anti epidemic national debt funds into the project name, construction site, investment scale and responsible unit. Extended reading: 6.819 billion! Eight companies on the science and Technology Innovation Board will reduce their holdings of some small and medium-sized banks the day after the lifting of the ban. Interest rates are expected to be reduced after the peak period of issuing bonds. Ping An Property Insurance Co., Ltd. will purchase 26% equity of auto home by 17 billion yuan. Source: Zhong Qiming, editor in charge of Finance and Economics_ NF5619

First finance learned from the local financial figures mentioned above that the local government will repay the principal of the special anti epidemic national debt from 2025, and pay the principal to the central government according to 20% of the total amount of distribution every year, and the repayment will be completed in 2029. If the principal cannot be repaid on time, the provincial finance will deduct the corresponding funds when handling the year-end settlement.

At present, the special anti epidemic treasury bonds are included in the direct fund management of the central government, and included in the whole process monitoring of the direct funds monitoring system of the central finance, so as to ensure that the capital accounts are clear, the flow direction is clear, and the funds benefit the enterprises and the people.

Some places have made public the use of funds and accepted social supervision. For example, Shanshan County of Xinjiang has invested 237 million yuan of special anti epidemic national debt funds into the project name, construction site, investment scale and responsible unit.