Ministry of Finance： The proportion of local government special bonds as major project capital can be higher than 20%.

　　CCTV News:At the press conference of the joint prevention and control mechanism in the State Council on April 3, Xu Hongcai, Vice Minister of Finance, said that there are five highlights and changes in the characteristics of local government special bonds this year:

　　First, expand the scale reasonably.Authorized by the National People’s Congress, some new bond quotas have been issued in advance in the past two years, with 810 billion yuan last year and 1.29 trillion yuan this year. According to the deployment of the State Council, another part will be issued, and the two parts together exceed the scale of last year.

　　Second, the release and use progress is ahead of schedule.By the end of March this year, all localities had issued 1.08 trillion yuan of new special bonds, an increase of 63% over the same period of last year, and 865.5 billion yuan was used, with a utilization rate of 77%. These two figures show that the distribution and use progress are ahead of schedule, which is conducive to strengthening the macro-policy regulation and control, playing a role as soon as possible and hedging the impact of the epidemic.

　　Third, adhere to the principle that funds follow the project.Where the special debt line is used in advance, the allocation of the line will be inclined to the key projects and the places with large effective investment according to this principle.

　　Fourth, optimize the investment of funds.To reflect the needs of epidemic prevention and control, it was originally mainly used in transportation infrastructure and other fields. This year, we will increase the areas of transformation of old urban communities, allow local emergency medical assistance, public health, etc., especially increase the construction of emerging infrastructure such as 5G networks, artificial intelligence, and Internet of Things.

　　Five, improve the proportion of special debt as the capital of major projects.Last year, the proportion was 20%. This year, local governments are allowed to increase the proportion appropriately, increase social capital investment and improve the role of special funds.