How to manage the "national ledger" better (policy interpretation)
China News Service, Yangzhou, May 10 (Reporter Cui Jiaming) On the 10th, the Yangzhou Municipal Government Investment Fund signed 5 market-oriented sub-funds and projects with a total scale of over 3.5 billion yuan, marking the city’s government investment fund has entered a new development stage.
Local finances are under pressure PPP is picking up?
China News Service, Beijing, April 21 (Reporter Zhao Jianhua) China issued 895.1 billion yuan of local government bonds (RMB, the same below) in the first quarter of this year. Among them, 521 billion yuan was issued for general bonds and 374.1 billion yuan for special bonds. In the first quarter of last year, 1,610.5 billion yuan of local government bonds were issued nationwide. Among them, 506.5 billion yuan was issued for general bonds and 1104.0 billion yuan for special bonds.
China News Service, Beijing, April 20 (Reporter Zhao Jianhua) The Ministry of Finance of China announced on the 20th that in March 2021, local government bonds will be issued nationwide by 477.1 billion yuan (RMB, the same below). Among them, 278.8 billion yuan of general bonds were issued, and 198.3 billion yuan of special bonds; according to the purpose, new bonds were issued 36.4 billion yuan, and refinancing bonds were issued 440.7 billion yuan.
The Ministry of Housing and Urban-Rural Development requires the development of affordable rental housing——
China News Service, Beijing, April 13th. The State Council of China recently issued the "Opinions on Further Deepening the Reform of the Budget Management System" (hereinafter referred to as the "Opinions") to deploy specific measures to further deepen the reform of the budget management system. The "Opinions" pointed out that the budget reflects the country's strategies and policies, reflects the scope and direction of the government's activities, is an important support for advancing the modernization of the country's governance system and governance capabilities, and is an important means of macro-control.
China News Service, Beijing, April 7 (Reporter Zhao Jianhua) Owen Han, Assistant Minister of Finance of China, introduced in Beijing on the 7th that as of the end of 2020, the balance of local government debt is 25.66 trillion yuan (RMB, the same below), which is controlled by the National People's Congress. Within the limit of 28.81 trillion yuan, plus the central government debt balance of 20.89 trillion yuan included in the budget management, the national government debt balance is 46.55 trillion yuan, and the ratio of government debt balance to GDP is 45.8%, which is lower than the international consensus. 60% warning line, the overall risk is controllable.
Chinanews, February 25. The Ministry of Finance website announced on the 25th the local government bond issuance and debt balance in January 2021. In January 2021, 362.3 billion yuan of local government bonds will be issued nationwide. As of the end of January 2021, the balance of local government debt across the country was 260,208 billion yuan.
(Financial World) Global debt hits a new high
Xinhua News Agency, Beijing, February 12 (Reporter Shen Cheng) The Ministry of Finance recently issued measures to standardize the management of local government bond information disclosure platforms and further promote the disclosure of local government debt information.
China News Service, Zhengzhou, February 7 (Yang Dayong) The Spring Festival is approaching, and the government reserves of meat in various parts of Henan have been put into the market in order to "guarantee supply, stabilize prices, and benefit people's livelihood." After the Zhengzhou government's reserve meat was put on the market, Luoyang and Jiaozuo Government reserves of meat from places such as Pingdingshan and Pingdingshan are also put on the market.
China News Service, Wenzhou, February 4th (Pan Qinwen and Li Jian) Wenzhou, Zhejiang has always been known for its developed private economy. At the two meetings of Wenzhou City held here, the members of the Wenzhou Municipal Political Consultative Conference launched a heated discussion on the "two health" (the healthy development of the non-public economy and the healthy growth of people in the non-public economy), and the construction of the "two health" pioneer area in Wenzhou in the new era Offer ideas and suggestions, express your own opinions.
Affected by the new crown pneumonia epidemic and large-scale tax and fee reduction measures, the national general public budget revenue in 2020 will fall by 3.9% year-on-year, and the target set in the budget report has been completed.
Ministry of Finance of China: Local debt risk is generally controllable
China News Service, Beijing, January 26 (Reporter Zhao Jianhua) The Ministry of Finance of China announced on the 26th that 183.6 billion yuan (RMB, the same below) of local government bonds will be issued nationwide in December 2020. Among them, 72.8 billion yuan in general bonds and 110.8 billion yuan in special bonds were issued; 58 billion yuan in new bonds were issued by purpose, and 125.6 billion yuan in refinancing bonds.
Standardize budget expenditure management. The Opinions increase budget revenue coordination and strengthen financial resource coordination, which is conducive to improving the financial resource coordination mechanism with systematic thinking, and strengthening budget execution and performance management.
(Issuance of local government bonds) Promote local government debts and resolve local government debts. In 2021, the issuance of local government special bonds will be reduced. The report of the draft budget revealed a signal of greater debt pressure. In 2020, local governments issued a total of 6,443.8 billion yuan in bonds.
The state-owned shares of listed companies in many places were transferred free of charge——
The average local government bond issuance interest rate is 3.40%, the national local government debt limit in 2020 is 28,807.43 billion yuan, the national issuance of local government bonds is 6,62602 billion yuan, the average issuance period of local government bonds is 14.8 years, and the national local government debt balance is 2,555.9 billion yuan.